In reality, Centra Tech does not have an experienced executive team and partnerships with the credit card companies. Their claims were false and misleading.
In a statement, U.S. Attorney Robert Kuzami said, “As alleged, the defendants conspired to capitalize on investor interest in the burgeoning cryptocurrency market. They allegedly made false claims about their product and about relationships they had with credible financial institutions, even creating a fictitious Centra Tech CEO. Whether traditional or cutting-edge, investment vehicles can’t legally be peddled with falsehoods and lies.”
Last month, The Federal Bureai of Investigation (FBI) arrested Sharma, Trapani, and Farkas following a criminal complaint against them. The agency seized 91,000 Ether units raised from their victims. Those recovered digital tokens are now worth more than $60 million.
SEC filed separate civil charges against Centra Tech co-founders
Separately, the Securities and Exchange Commission (SEC) filed civil charges against Sharma, Trapani, and Farkas. The SEC filed its complaint last month after its investigation into Centra Tech’s ICO.