“We allege that Centra sold investors on the promise of new digital technologies by using a sophisticated marketing campaign to spin a web of lies about their supposed partnerships with legitimate businesses,” said Stephanie Avakian, Co-Director of the SEC’s Division of Enforcement. “As the complaint alleges, these and other claims were simply false.”
Clearly, polished marketing materials and celebrity endorsements are not an alternative to due diligence and applicable securities registration(s).
The SEC complaint charges Sharma and Farkas with violating the anti-fraud and registration provisions of several federal securities laws. Additionally, the complaint seeks financial recompense to include interest and penalties. Moreover, it prohibits Sharma and Farkas from ever serving as public company officers/directors, and from partaking in any digital or other securities offering.
Wronged investors in the Centra ICO may contact www.SEC.gov/tcr. Furthermore, the SEC’s Office of Investor Education and Advocacy has issued an Investor Bulletin on initial coin offerings. Supplementary information is available on Investor.gov and SEC.gov.
