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SEC charges two individuals with fraud in continuing ICO investigation

The co-founders of Centra Tech Inc. allegedly misled investors.

has charged two individuals for what it alleges was a fraudulent initial coin offering (ICO) that raised over $32 million last year. Sohrab Sharma and Robert Farkas co-founded Centra Tech Inc. and the SEC says the company sold unregistered investments through a token. Sharma and Farkas are said to have told potential investors that the company was working on a Visa and MasterCard-backed debit card that would convert cryptocurrencies into US dollars Centra Ico Refund , but the SEC alleges Centra was not actually working with either of those companies. Additionally, the co-founders made up executives with impressive backgrounds and shared misleading information on the company's website.

Centra Ico Refund ," Stephanie Avakian, co-director of the SEC's Division of Enforcement, said in a

. "As the complaint alleges, these and other claims were simply false." The SEC also says that Centra paid celebrities to talk about its ICO, the likes of which included

filed against Centra and its founders in December also claimed the company violated US securities law and misled investors.

last September and since then, it has filed charges against those it alleges have

at companies that suddenly shift their interests to cryptocurrencies and blockchain technology. Last month, the commission

refunds of fraudulently raised money and a ban on Sharma and Farkas participating in securities offerings or serving as officers in a public company. The US attorney's office for the southern district of New York has also filed criminal charges against Sharma and Farkas. Centra Ico Refund , refunds of fraudulently raised money and a ban on Sharma and Farkas participating in securities offerings or serving as officers in a public company. The US attorney's office for the southern district of New York has also filed criminal charges against Sharma and Farkas.