Skip to Content

Late Tuesday, the Securities and Exchange Commission charged the founders of an ICO, Centra, with fraud, saying the creators raised $32 million from investors with an intricate marketing campaign, including the use of paid endorsements from prominent celebrities such as boxer Floyd Mayweather and singer DJ Khaled.

“We allege that Centra [Tech] sold investors on the promise of new digital technologies by using a sophisticated marketing campaign to spin a web of lies about their supposed partnerships with legitimate businesses,” said Stephanie Avakian, co-director of the SEC’s Division of Enforcement. “As the complaint alleges, these and other claims were simply false.”


Join in on the conversation with Alex Masters Lecky when you subscribe to CRYPTONICLES.