Centra Tech
A 2017 ICO that sold the CTR token and, per the SEC, raised over $32M by touting nonexistent partnerships with Visa, Mastercard, and Bancorp. Co-founder Sohrab Sharma was sentenced to 8 years.
Also known as: Centra, CTR Token
Summary
Centra Tech ran a 2017 initial coin offering (ICO) selling the CTR token. The SEC says it raised over $32 million by promoting nonexistent partnerships with Visa, Mastercard, and Bancorp. [1][2]
Misrepresentations
According to the SEC, the founders fabricated executives — including a fictitious Harvard-educated CEO — and false banking partnerships. The ICO was boosted by paid celebrity endorsements; Floyd Mayweather and DJ Khaled later settled SEC charges for failing to disclose they were paid to promote it. [1][2]
Outcome
Co-founder Sohrab "Sam" Sharma was sentenced to 8 years in prison; co-founders Robert Farkas and Raymond Trapani were also convicted. [2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
- Sohrab SharmaCo-founderIndividualsCo-founder of Centra Tech, the 2017 ICO that the SEC says raised over $32M on fabricated partnerships. Pleaded guilty and was sentenced to 8 years in prison.
- Robert FarkasCo-founderIndividualsCo-founder of Centra Tech, the 2017 ICO that raised ~$25–32M on fake executives and fabricated partnerships with Visa/Mastercard. He pleaded guilty to fraud conspiracies and was sentenced to one year and one day in prison.
- Raymond TrapaniCo-founder
Sources (2)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.