Bloomberg Law
April 20, 2018, 6:38 PM

Third Centra Tech Founder Faces Charges Over Coin Offering

The co-founder of cryptocurrency firm Centra Tech Inc. was arrested on charges that he duped investors into committing more than $25 million to the company by lying about an initial coin offering.

Raymond Trapani’s arrest April 20 follows charges against two other co-founders of the firm, Sohrab Sharma and Robert Farkas, who were arrested in March. All three men are accused of conspiracy, securities fraud and wire fraud, as well as civil claims by the Securities and Exchange Commission.

Authorities claim that Trapani, Sharma, and Farkas, cheated investors by claiming to have developed a debit card allowing users to make ...