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Last updated - December 24, 2025
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Centra Tech Inc., founded by Ray Trapani and Sam “Sobre” Sharma, falsely claimed to offer a revolutionary bitcoin debit card, raising over $30 million through a fraudulent initial coin offering in 2017. The company’s deceptive practices, including fake LinkedIn profiles and fabricated partnerships with major financial institutions, leading to its collapse and legal action by the SEC in 2018.
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High Risk
Based on the available data, we advise consumers to avoid this Company altogether.
This advisory is based on an aggregate risk score derived from OSINT, Adverse Media, Reviews, and Risk Factors identified in our research.
You are likely to be at great risk by engaging in any sort of consumer-related activity with this entity.
Based on the available data, we recommend that employees exercise extreme caution or reconsider association with this Company.
This advisory stems from an aggregate risk score compiled from OSINT, Adverse Media, Reviews, and Risk Factors uncovered in our analysis.
You are likely to face significant risks by pursuing or maintaining employment with this entity.
Based on the available data, we urge investors and bankers to avoid financial involvement with this Company.
This advisory is informed by an aggregate risk score based on OSINT, Adverse Media, Reviews, and Risk Factors identified through our investigation.
Engaging in investment or lending activities with this entity poses a substantial risk to your financial interests.
Safe to Onboard
Enhanced Due Diligence required
Do Not Onboard
Monitor adverse media every 6 months
File SAR (Suspicious Activity Report) is warranted
Escalation to compliance committee
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Centra Tech falsely claimed partnerships with major credit card companies like Visa and Mastercard, and misrepresented their executive team as having Ivy League degrees and extensive professional experience, despite having no functional product or legitimate business relationships.
The Securities and Exchange Commission (SEC) alleged that Centra Tech’s founders, including Raymond Trapani, orchestrated a fraudulent initial coin offering (ICO) in 2017.
Critics described Centra Tech as an archetypal example of cryptocurrency fraud, with its founders exploiting an unregulated market, leading to significant investor losses and drawing comparisons to other high-profile scams due to their deceptive practices.
A 2017 New York Times article by Nathaniel Popper exposed Centra Tech as a scam, highlighting its fraudulent claims and leading to SEC intervention, with additional media, including Netflix’s Bitconned documentary, portraying the company as a scheme driven by greed that defrauded investors of millions.
Centra Tech’s fraudulent ICO and deceptive marketing led to investors losing over $25 million, with no refunds reported as of August 2023, leaving many financially harmed.
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What you see here scratches the surface
We offer reward for actionable intel
Centra Tech Inc. executives, including an Indian-origin man, were indicted for a multi-million dollar crypto scam.
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The SEC charged Raymond Trapani, co‑founder of Centra Tech Inc., with fraud over its $32 million ICO.
Centra Tech, co-founded by Robert Joseph Farkas, defrauded investors of $25M via a fake ICO and false executive claims.
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Based on user engagement on this review profile, ProConsumer will decide to publish its Risk Audit report for public if a threshold engagement, traffic and user input is achieved.
Known Assets: [Real estate, investments, companies]
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Liabilities: [Bankruptcies, defaults, debts]
Wealth Sources: [Legitimate / Unclear / High-risk]
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All comments are user-generated content and may not be verified. They represent the personal opinions of the public and should not be relied upon. These comments do not influence or determine our overall rating.
1.4
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Highly experienced
Well-recognized name
Faced allegations of scamming others
Allegedly sold fake silver
Sued multiple times
Unregulated industry
Alarming number of complaints online
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I went in expecting a structured and transparent operation, but what I encountered was the opposite. Promises were made confidently but not supported. Progress felt unclear. Accountability was missing. Overall, it felt misleading.
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I initially believed in the vision being sold, but over time the cracks became obvious. The lack of follow-through was disappointing. It felt like more talk than action.
The detail that really stuck out to me was the alleged impersonation in takedown notices. Pretending to be someone else to file legal claims isn’t just shady—it’s illegal. It also hints at premeditation, which makes the entire thing feel far more coordinated than a simple mistake or overzealous lawyer. Coupled with the previous fraud conviction in the Centra Tech scandal, this paints a picture of a serial pattern of deception. It’s the kind of behavior that undermines trust not just in individuals but in entire industries like crypto.
Ultimately, Centra Tech’s collapse reflects the danger of unregulated fundraising smugly riding early crypto hype. Trapani’s firm claims about cutting‑edge payment products, institutional backing, and financial expertise were entirely fictitious. The result? Global investor losses, fractured trust in celebrity‑endorsed crypto projects, and heightened regulatory scrutiny—all fallout directly tied to Trapani’s deliberate orchestrations
Beyond Centra Tech, Trapani’s personal background reveals a pattern of illicit behavior: from stolen prescription pad schemes in his youth to an escalating appetite for deception. Bitconned discusses his troubled financial ventures and emotional crisis, eventually channeling ambition into crypto fraud. This pattern indicates longstanding intent rather than momentary misjudgment
From stolen prescription‑pad teen hustles to multi‑million dollar ICO scammer—Trapani’s entire trajectory screams opportunist. He failed forward from one con to the next. And now? He’s polished to look credible. But polish don’t erase trauma or criminal patterns..Something about him posting on X and flipping his story to media rubs me the wrong way. A former criminal turned media darling—selling insight while millionaires were left scrambling for capital. That arrogance pisses me off. Accountability’s a cloak he wears only when convenient..Guys, think about it—Trapani helps FBI bust the others, pays back pennies compared to investors’ losses, then channels that PR into loan biz. That’s not reform, that’s strategy. He learned the con‑artist playbook, but justice got edited out. Scam never ended, just got a makeover
Ray Trapani claims crypto is 95% fraud—but he was the headline act! How do I trust a guy whose whole gig was smoke and mirrors? That ‘I always wanted to be a criminal’ quote… no remorse. That ain’t insight, that’s pride in manipulation..Those celebrity endorsements—DJ Khaled, Floyd Mayweather—were bait. Trapani and co used fame to trick newbies into handing over millions. It’s despicable. And since he wasn’t locked up, it feels like a trophy for scammers. Makes me lose faith in justice
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