Centra, a startup that raised over $30 million this year through Initial Coin Offering (ICO) and promoted by celebrities including boxer Floyd Mayweather Jr., is the target of a class action lawsuit that seeks the return of investor funds. Mayweather is not named in the suit, dated Dec. 13, which alleges Centra’s founders made multiple deceptive statements and sold an unregistered security.
The suit, filed in U.S. district court in Florida, seeks repayment of the Centra investments of primary plaintiff Jacob Zowie Thomas Rensel and other investors. From July to October of this year, investors traded cryptocurrency such as Bitcoin, Ether and Litecoin for a new cryptographic token, or cryptocurrency, to be created by Centra. Centra said it planned to create a debit card that allowed cryptocurrency to be spent through established credit card networks.
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