Ray Trapani is a former co-founder of Centra Tech, a cryptocurrency company that was involved in one of the biggest scams in the history of crypto. He was arrested in 2018 for fraud and conspiracy charges, but avoided jail time by cooperating with the authorities. He is now splitting his time between New York and Florida, and is ready to share his story on a Netflix documentary. He is also active on Instagram, where he posts pictures of his son and his lifestyle.
Who is Ray Trapani?
Ray Trapani is one of the three co-founders of Centra Tech, a company that claimed to offer a debit card that could convert cryptocurrencies into fiat currencies. The company raised over $32 million in an initial coin offering (ICO) in 2017, with endorsements from celebrities like Floyd Mayweather and DJ Khaled. However, the company was exposed as a fraud by the US Securities and Exchange Commission (SEC) and the Federal Bureau of Investigation (FBI) in 2018. The authorities found that the company had no partnerships with Visa or Mastercard, as it claimed, and that it used fake identities and testimonials to promote its product. The company also lied about having a license in 38 states, and about having a CEO named Michael Edwards, who was actually a fictional person.
What Happened to Ray Trapani?
Ray Trapani was arrested in April 2018, along with his co-founders Sohrab Sharma and Robert Farkas, for charges of securities fraud, wire fraud, and conspiracy. The trio faced up to 20 years in prison for their crimes. However, Trapani managed to avoid jail time by pleading guilty and agreeing to cooperate with the government. He also forfeited $36,000 in cash, a Rolex watch, and a 2017 Ferrari 488 Spider. He was sentenced to three years of supervised release in November 2020. He is now splitting his time between New York and Florida, where he has family and friends.
Where is Ray Trapani Now?
Ray Trapani is now ready to share his story on a Netflix documentary called “Bitconned”, which is expected to be released in 2024. The documentary will feature interviews with Trapani and other key players in the Centra Tech scam, as well as footage from the FBI raid and the court proceedings. Trapani hopes that the documentary will shed light on the dark side of the crypto industry, and warn others about the risks of investing in unregulated and fraudulent projects.
Trapani is also active on Instagram, where he has over 10,000 followers. He posts pictures of his son, who was born in 2019, and his lavish lifestyle, which includes luxury cars, boats, and vacations. He also promotes his new business ventures, such as a clothing line and a music label. He claims that he has learned from his mistakes, and that he is now focused on being a good father and a successful entrepreneur.
Ray Trapani is a former co-founder of Centra Tech, a crypto company that scammed millions of dollars from investors in 2017. He was arrested in 2018, but avoided jail time by cooperating with the authorities. He is now living in New York and Florida, and is ready to share his story on a Netflix documentary. He is also active on Instagram, where he posts pictures of his son and his lifestyle. He says that he has changed his ways, and that he is now working on legitimate and ethical businesses.