Founders of Centra Tech ICO Indicted for running Fraudulent ICO

The three co-founders of the ICO Centra Tech have been formally indicted for running a fraudulent ICO, according to a statement from the U.S. Department of Justice. All three are facing charges of securities fraud, wire fraud and two conspiracy counts. The defendants, Sohrab Sharma, Robert Farkas, and Raymond Trapani,  raised $32 million from investors in 2017. They apparently misled investors by falsely claiming that their company…

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SEC Launches Fake ICO to Educate People on Fraud

You have to give them credit, the SEC is at a minimum becoming more entertaining. The Office of Investor Education and Advocacy at the US Securities and Exchange Commission has launched a fake ICO site,  according to a press release on May 16. The fake site, HoweyCoins.com, is supposed to represent a fraud ICO which even comes with a fake whitepaper and guaranteed investment returns.…

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