Co-founder behind ICO promoted by Floyd Mayweather and DJ Khaled pleads guilty to fraud scheme
June 16, 2020, 4:42PM EDT
1 min read
The co-founder of Centra Tech, which in 2017 ran an ICO promoted by boxer Floyd Mayweather Jr. and music producer DJ Khaled, pled guilty today to his involvement in a multi-million dollar ICO fraud scheme.
According to a news release from the U.S. Department of Justice, Robert Farkas pled guilty to conspiring to commit securities and wire fraud related to a digital investment scheme that duped victims to the tune of $25 million.
Mayweather and Khaled at one point served as public faces of the scheme, calling for their fans to participate in the unregistered sale. In 2018, the duo settled charges from the Securities and Exchange Commission that they failed to disclose payments they received for their promotion of the ICO.
The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
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