Floyd Mayweather, DJ Khaled Escape Lawsuit Brought By ICO Investors
Floyd Mayweather, DJ Khaled and two employees of the Centra Tech ICO project have been dismissed from an investor lawsuit by a federal judge.
The cryptocurrency firm had falsely claimed to have an impressive executive team, as well as 38 state money transmitter licenses.
According to court documents, U.S. federal prosecutors are asking that one of Centra Tech’s co-founders, Robert Farkas, be sentenced to prison instead of his request for home confinement and community service.
Centra Tech's co-founder has been sentenced to eight years for conducting an illegal initial coin offering (ICO) that fleeced investors of $25 million.
Centra Tech one of the most storied scams of the the 2017 ICO bubble. Its founders have fallen like dominoes since.
A co-founder of the celebrity-backed Centra Tech crypto scam has pleaded guilty to his role in the $25 million fraudulent ICO.