Founders of a DJ Khaled-endorsed ICO have been charged with fraud

79 reads

TwitterFacebook

The two co-founders of Centra, a cryptocurrency initial coin offering (ICO), that was endorsed by musician DJ Khaled and boxer Floyd Mayweather, have been arrested and charged with fraud. 

The U.S. Securities and Exchange Commission (SEC) alleges that Sohrab “Sam” Sharma and Robert Farkas "masterminded a fraudulent ICO in which Centra offered and sold unregistered investments through a 'CTR Token.'"

The charges boil down to Sharma and Farkas making promises to investors that were completely unfounded, including offering a debit card backed by Visa and MasterCard, even though they had no relationship with either company. Furthermore the SEC alleges that the two "created fictional executives with impressive biographies, posted false or misleading marketing materials to Centra’s website, and paid celebrities to tout the ICO on social media." Read more...

More about Dj Khaled, Cryptocurrency, Floyd Mayweather, Centra, and Tech


Trending

249
cryptocurrency's picture

YouToken Disrupts FinTech and Crowdfunding at 2018 Global Blockchain Forum

YouToken (YTN) presented their innovative blockchain-based crowdfunding platform to over 1,400 attendees at the 2018 Global Blockchain Forum in Santa Clara, California.Dozens of promising startups attended the event with YouToken leading the way in
181
Ron Kaufman's picture

The Six Disruptors of Customer Experience

UP! Your Service is a global education and consulting company. We help leaders and companies all over the world achieve two primary outcomes: First, improve your customer’s experience – to help you attract customers, keep customers, generate
302
businessstandard's picture

Programmatic is transparent, but post-delivery: Vertoz CEO Ashish Shah

 Start-ups take faster to programmatic than regular consumer product firms, Ashish Shah tells Vanita Kohli-KhandekarIs programmatic useful from a brand building perspective?If you have to buy space in Business Standard or Times of India for 30
336
davecrenshaw's picture

Why “ASAP” isn’t clear communication—and what to use instead

Recently, I found myself saying the very word I’ve cautioned others against using many times. Here’s what happened. I noticed something was wrong on my website, so I reached out to my project manager, John. John’s a reliable guy and I knew he could
340
vsquare's picture

10 Steps for Business to be successful | Startup Success Formula | Dr Vivek Bindra

From: youtube.com By Dr. Vivek Bindra: Motivational SpeakerRecommended by: vsquare10 steps tor creating a successful business. You can use these steps to be successful. In this video, Dr Vivek Bindra outlines 10 revolutionary steps for business
415
jackcanfield's picture

Activating the Power of the Subconscious Mind

The untapped power of the subconscious mind can lead you to new success in your personal life and business life. Discovering how to turn your thoughts into positive and implementing the law of attraction into your daily life can take you to new
378
pradyumnanag's picture

How is it cheaper for Google to buy Groupon than internally build something like it?

 May be covered in some answers already by some fantastic answers.Just elucidating instead of replying on each of the posts. Though I may have my own personal reservations on the business model per se, they have been able to achieve something
358
changethis's picture

Willpower Is an Outdated Model of Success: Here’s the Future of Self-improvement

“It’s no wonder willpower has been placed under the media spotlight as essential to success. In a negative environment, willpower’s all we have left. It’s the life-raft, the backup parachute. And we’re depending on it to save our skins. It takes a
352
harvardbusinessreview's picture

How to Use Employee Referrals Without Giving Up Workplace Diversity

Incentivize employees to refer more women and people of color.