The crypto scheme, backed by celebrities including Floyd Mayweather and DJ Khaled, is accused of running an ICO scam with the intent of defrauding unsuspecting investors.
Investors who filed suit in Florida to have their case certified as a class-action lawsuit have been denied by U.S. District Judge Robert N. Scola, Jr.
Floyd Mayweather, DJ Khaled, and two Centra Tech employees escaped repercussions with respect to a lawsuit filed against the startup’s fraudulent ICO.
After the Securities and Exchange Commission (SEC) shuts down the Mayweather-backed ICO over fraud charges, the boxing champ might have to respond personally for his involvement.
Three people allegedly behind the cryptocurrency startup Centra Tech have each been charged with securities fraud, two counts of conspiracy and wire fraud.
One of Centra’s co-founders, Raymond Trapani, was charged with violating the anti-fraud and registration provisions of the federal securities laws in connection with the 2017 ICO.