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Crypto Co. Asks Court To Set Aside Clerk’s Default – Law360

Law360 (June 17, 2019, 9:56 PM EDT) — Centra Tech urged a Florida federal judge to set aside a clerk’s default in its investors’ case accusing the cryptocurrency company of fraudulently raising $32 million in an initial coin offering, arguing that restrictions in a parallel criminal case prevented the company from securing legal representation earlier.

The now-defunct company had failed to retain counsel after its previous representation withdrew in December and a clerk’s default was entered against Centra Tech in January, according to a motion for a final default judgment against Centra Tech for $31,718,043 filed by the proposed class of investors Thursday.

Sohrab Sharma, one of the company’s…

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