Founders of ICO Endorsed By Floyd Mayweather Indicted for Fraud

The three co-founders of cryptocurrency firm Centra Tech have all been indicted by a grand jury, the U.S. Attorney for the Southern District of New York announced Monday.

Raymond Trapani, Sohrab Sharma and Robert Farkas have all been accused of planning to defraud investors through their company’s┬átoken sale. U.S. Attorney Robert Khuzami further announced that authorities had recovered more than $60 million in funds from the co-founders.

All three are being charged with counts of conspiracy and the commission of securities and wire fraud, according to a release.

Centra reportedly offered “cryptocurrency-related financial products,” and its founders allegedly created “a scheme to induce victims to invest millions of dollars’ worth of digital funds for the purpose of unregistered securities,” according to the release.

All three are being charged with counts of conspiracy and the commission of securities and wire fraud, according to a release.