Centra`s Creator Confessed In Fraud For $25 Million

Robert Farkas, one of the founders of the crypto startup Centra Tech, admitted the fact of creating a fraudulent scheme for $25 million.

Aggressive marketing

Recall, in 2017 this startup was notable for quite aggressive marketing, for example, it was promoted by such famous people as world boxing champion Floyd Mayweather and popular producer DJ Khaled.

The beginning of the investigation

Two years ago, the creators of the crypto project Centra Tech were accused of deception investors. SEC officials claimed that they deliberately disseminated false information about partnerships with giants such as Visa and Mastercard. Besides, Centra told investors that they had licenses for money transfers in 38 states.

Centra Tech Promises

The creators of the startup promised to issue a debit card, with which users could easily pay in any store that accepts Visa or Mastercard. For example, Mayweather posted on Instagram:

“I already spend bitcoins, Ethereum, and other digital currencies in Beverly Hills.”