In early April, the Commission on securities and exchange Commission has charged two co-founders of a startup Centra Tech charges in the theft of 32 million dollars. Got it during the ICO. Now the accused in the case was the “main inspiration” of the company Raymond Trapani, writes Cointelegraph.
ICO how to spend and not go broke
The us regulator said that the founders of the project have given investors unrealistic promises. Centra Tech in their Whitepaper they wrote that the raised money will be spent on the development of a joint Visa and MasterCard products. In fact, the owners of the company not held negotiations with payment systems, I think in SEC. Still in the case were only Sohrab Sharma and Robert Farkas, they are arrested.
The regulator appealed against Trapani in new York court. In addition to the deception of investors, the entrepreneur is charged with manipulating the price of tokens. What are the coins in question in the document is not specified.
Raymond Trapani convinced investors the reality of the negotiations that the company supposedly had with reliable financial institutions. Operations with cryptocurrency are not prohibited by the laws of the United States, and the deception of investors and economic crime.
With Charm, Farkas and Trapani can recover $ 32 million, and also permanently prohibit them to hold management positions in companies.
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