The confession of the founder of a cryptocurrency company has emerged. In this confession, he has admitted to trapping and luring unknown investors. He has told that through his firm, he defrauded the new investors of $ 2.5 crore (about 190 crore rupees).
Robert Farcas and his two other associates founded a company called Centra Tech. It also included Sohrab Sharma and Raymond Trapani. He was accused of fraud and financial forgery in the year 2018. He misled investors.
Investors were told that they can make payments through digital currency on any platform that accepts payment by Visa or MasterCard. Significantly, the trial against Sharma and Trapani will begin in a US court in November.
Farkas was convicted by a Manhattan court. They have been found guilty in the lower court of America. He has been held guilty of securities fraud and forgery. The court has sentenced them.
All three had previously worked together at Florida’s Miami Exotics. After this, all three Centra Tech was established. They raised money quickly through social media. He added the names of former boxer Floyd Mayweather and music producer DJ Khalid.
He lied to many other types of lies, in which he told that the CEO of his company is educated from Harvard School. In addition, he also gave many other wrong information related to business. He did not even get his cryptocurrency registered.