Centra (cryptocurrency)
Centra was a company that advertised itself as a developer of a blockchain-based credit card and payment system. Centra was closed in 2018 after the company's ICO was deemed by the SEC and DOJ to be a fraudulent scheme. In 2024, Netflix released Bitconned, a documentary on Centra.
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Centra is a blockchain-based product line solution that aims to create a world connected to cryptocurrency. On April 20, 2018 the founder of Centra, Raymon Trapni, Sohrab Sharma, and Robert Farkas, were arrested and charged by the US Department of Justice's (DOJ) for securities and wire fraud after the completion of Centra's fraudulent initial coin offering (ICO). The arrests and charges were the result of the founders claiming the Centra debit card was backed by Visa and MastercardMastercard, and would allow users to convert cryptocurrencies into fiat currencies. This partnership claim turned out to be false according the the US Securities and Exchange Commission.
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