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The founder of the ICO, sponsored by Floyd Mayweather, pled guilty to fraud

June 11, 2020

Robert Farkas is negotiating a plea for his role in Centra Tech’s fraudulent Initial Coin Offering (ICO), which he commissioned Floyd Mayweather Jr. and DJ Khaled.

District judge Lorna Schofield complied with Farkas’ lawyers to schedule a hearing next weekDetails of the proposed statement are still to be announced.

The lawsuits against Farkas and his co-founder of Centra, Sohrab Sharma, have been postponed until September., when the coronavirus quarantine came into force in March.

Centra Tech founder to negotiate a consent form

The founder of the ICO, sponsored by Floyd Mayweather, pled guilty to fraudThe founder of the ICO, sponsored by Floyd Mayweather, pled guilty to fraud

Farkas and Sharma are accused of cheating investors in excess of $ 25 million between July and October 2017 via ICO Centra Tech.

Centra Tech has entered into license agreements with Visa, Mastercard and Bancorp to promote the offer. before paying for the support of professional boxer Floyd Mayweather Jr. and well-known musician DJ Khaled.

Raymon Trapani was also accused of operating the ICO, but pleaded guilty to nine charges in July 2019.. The trio invented Centra Tech when they ran a luxury car rental in Florida.

Celebrities are responsible

In November 2018 Mayweather and Khaled have been accused of “illegal advertising of coin offerings” by the United States Securities and Exchange Commission (SEC).

The SEC found that Neither Mayweather nor Khaled had discussed their respective $ 100,000 and $ 50,000 payments for promoting their followers on social media.. Mayweather was also found not to discuss the $ 200,000 in payments she received for sponsoring two other ICOs.

Total, Mayweather agreed to pay $ 300,000 as a cutthroata $ 300,000 fine and nearly $ 15,000 for prejudice for their role in promoting the three ICOs. Khaled paid the USD 50,000 cut, a fine of $ 100,000 and nearly $ 3,000 in prejudice interest.

In February, Actor Steven Seagal was indicted by the SEC for illegally promoting the Bitcoiin2Gen ICO in 2018 without stating that he was paid for it.. Although Segal claimed that he had only received $ 157,000 to fund the project, the actor agreed to pay $ 330,000 plus $ 16,000 in prejudice interest.

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