Centra Tech
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anchored·3Srqrr…Z5EfSummary
Centra Tech was a Miami-based cryptocurrency startup that conducted a fraudulent initial coin offering (ICO) in mid-2017, raising over $32 million from thousands of investors through an extensive web of fabricated executives, fake partnerships with Visa and Mastercard, and undisclosed celebrity endorsements from Floyd Mayweather Jr. and DJ Khaled. All three co-founders — Sohrab Sharma, Robert Farkas, and Raymond Trapani — pleaded guilty to federal securities fraud, wire fraud, and mail fraud charges; Sharma was sentenced to eight years in federal prison. The case remains one of the most significant ICO enforcement actions in U.S. history.
Connected Entities
3 entities · 60 linked investigations- Centra Tech→mentioned with→Ethereum(70%)
- Centra Tech→mentioned with→Binance(60%)
- Binance→mentioned with→Ethereum(65%)
Timeline(12 events)
30 July 2017
Centra Tech launches its ICO for CTR tokens, claiming a crypto debit card product backed by Visa, Mastercard, and The Bancorp.
ICO Drops / CoinSpeaker25 September 2017
Centra Tech ICO closes, having raised over $32 million from thousands of investors. CTR token subsequently listed on exchanges including Binance.
CoinSpeaker2 April 2018
SEC files civil complaint against co-founders Sohrab Sharma and Robert Farkas; DOJ announces simultaneous criminal charges. Both founders arrested — Farkas was apprehended before boarding a flight to leave the country.
SEC Litigation Release LR-24090 / DOJ SDNY Press Release20 April 2018
Third co-founder Raymond Trapani arrested and charged with securities and wire fraud exceeding $25 million.
CoinTelegraph2 May 2018
FBI seizes approximately 91,000 units of Ether representing funds raised from ICO victims, later valued at over $60 million.
DOJ SDNY Indictment Press Release29 November 2018
SEC announces settled charges against Floyd Mayweather Jr. and DJ Khaled for failing to disclose ICO promotional payments. Mayweather agrees to pay approximately $614,775; Khaled agrees to pay approximately $152,725. SEC bars Mayweather from securities promotions for three years, Khaled for two years.
SEC Press Release 2018-26816 June 2020
Robert Farkas pleads guilty to conspiring to commit securities fraud and wire fraud in connection with the CTR Token ICO.
CoinDesk15 December 2020
Robert Farkas sentenced by U.S. District Judge Lorna Schofield to one year and one day in federal prison, three years of supervised release, and forfeiture of $347,062 plus a Rolex watch.
Bloomberg / CoinDesk4 March 2021
Sohrab Sharma sentenced to eight years in federal prison, three years of supervised release, a $20,000 fine, and forfeiture of approximately $36 million — the stiffest penalty among the three co-founders.
The Block / CoinTelegraphApril 2022
Raymond Trapani sentenced; court imposes no prison time, citing his extraordinary cooperation with federal prosecutors. Trapani ordered to pay $2.9 million in restitution.
Law360 / Bustle17 May 2022
U.S. District Court enters final civil consent judgments against all three founders, ordering combined disgorgement and interest of over $40 million (satisfied by parallel criminal forfeitures) and imposing permanent injunctions and officer-and-director bars.
SEC Litigation Release LR-25396 / Crowdfund Insider2024
Netflix releases 'Bitconned,' a feature documentary on the Centra Tech fraud directed by Bryan Storkel and featuring Raymond Trapani's account of the scheme.
Netflix TudumDecision Log
- slot 426522812 · hash 9Guu1geXa2YTLmZuyrHh3XrfFjJW9fyQSNqBU7XRGd7j
- slot 426522808 · hash EAStrd52q5L9t9DksM56za5Rouo73FHZRUzekGWWjdCa
- slot 423426464 · hash 5tr4NNbj3LLLxTDNQTdHV9eHB6g71rbnrhpfpQGgbqQ3
This investigation is cryptographically anchored to the Solana blockchain (3 decisions). 20 of 22 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/31/2026, 6:13:09 PM
last updated: 5/31/2026, 6:13:09 PM
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