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Prosecutors seek harsh sentence for fraudster behind celeb-spruiked ICO – Investing.com

Prosecutors seek harsh sentence for fraudster behind celeb-spruiked ICO

U.S. federal prosecutors are pushing for a heavy prison sentence to be levied against one of the founders of Centra Tech — the company behind a notorious initial coin offering in 2017 that was promoted by professional boxer Floyd Mayweather and musician DJ Khaled.

In a government sentencing submission filed on Oct. 31, the government requested that U.S. District Judge Lorna Schofield sentenced Centra Tech co-founder Robert Joseph Farkas to “a substantial term of imprisonment” to deter other fraudsters from conducting unlawful ICOs.

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