SEC stops fraudulent ICO scheme

The US Securities and Exchange Commission (SEC) has charged the two co-founders of an initial coin offering (ICO) with "orchestrating a fraudulent" ICO.

The SEC's complaint alleges that Sohrab “Sam” Sharma and Robert Farkas, the co-founders of Centra Tech, masterminded a fraudulent ICO in which the purported financial services start-up sold "unregistered investments" through a "CTR Token".

The complaint alleges that the ICO raised $32 million from thousands of investors last year.

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