The third co-founder of crypto financial services startup Centra Tech, Raymond Trapani, was arrested Friday, charged with securities and wire fraud of more than $25 million associated with the company’s initial coin offering (ICO), according to the U.S. Justice Department. The two other co-founders, Sohrab Sharma and Robert Farkas, were arrested and charged of the same offenses earlier in April. The three founders had fraudulently claimed their firm’s debit card, Centra Card, was backed by Visa and MasterCard and could allow users to convert crypto into fiat currencies. Read more here.

ThirtyK Staff
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