Centra Founders Arrested

[Apex Investments]

Yes, sell this one if you are holding it.  Generally when the founders of the company are arrested it is a bad sign. 

Agree with other posters that celebrity endorsers take a big reputational risk by backing crypto ICOs. 

There is also a legal risk if they are selling an unlicensed security. 

As it stands now there isn't a reason for a company not to go through the SEC process here.  Companies in this space just need to bite the bullet and hire a lawyer to abide by SEC regulations when doing an ICO since nothing justifies doing 3-5 for securities fraud.  The SEC is clear that these are all securities so it doesn't make any sense not to do this the right way. 

It's a big red flag when companies say they aren't subject to the SEC.  The founders of this company also have had legal trouble in the past.  This is a bad deal for all parties involved but the red flags were waving vigorously with this one and people chose to ignore it. 

[paramex]

from my point of view, this news is very worrying ICO Centra has been successful, hopefully, there is a way out for investors who are stuck in a very expensive or high price. and also This incident made the ICO name slightly worse or shaken.

[pushups44]

Right now the token price is below .07 cents. This is a stunning drop. No amount of banning at the Telegram will hide the truth from investors. I'm glad I sold.

[fosco333]

Any thoughts about this Cointelegraph article?

https://cointelegraph.com/news/sec-busts-fraudulent-ico-endorsed-by-floyd-mayweather-founders-defrauded-32-mln

I thought it was repulsive for Centra to create fake profiles and biographies to promote their ICO, but from what I saw it looked like the company had turned things around and was becoming legitimate. Supposedly they have a live product now and have been issuing cards. What do you guys think?

Is Centra done? Is a dead cat bounce in sight? Can the company bounce back?

This is big news.

i didn't believe it. the ICO project that collected $32mil turned into fake and scam project?
what about the investor that contributed on Centra ICO's ? is it refund back ?

[unisilver]

The us regulation of ico has begun to work!

Many fake ico projects will ban the government and effectively protect the interests of investors!

This will enable more excellent ico projects to invest in investors and promote the prosperity of the market!

That was a good news, because of the fake ICO's many investors already doubting the project. Hope the government who already acknowledge BTC in their country would be able to move forward and produce legit project for the investors who are willing to invest.

[omozie]

The arrest of the founders really did alot of damage to the market value of the centra token. Since they have a working product, i wonder how it will now turn into. Maybe a company will buy it off just as coincheck was bought by monex

[GlassPod]

I was just banned from Telegram for criticizing the founders for using fake profiles on the website. Breaking news: Centra Tech is banning people who tell others the truth on their Telegram.

Would love to talk with you about this. I'm researching Centra Tech for an upcoming investigative series.