Why am i not surprised...
The U.S. Securities and Exchange Commission has halted an initial coin offering and charged its founders with "orchestrating a fraudulent initial coin offering," the regulator said Monday night.
The agency said it charged Sohrab Sharma and Robert Farkas, the co-founders of Centra Tech, with fraud after they raised $32 million by selling "unregistered securities."
While the ICO startup claimed the funds would go toward developing financial products backed by Visa and Mastercard, the SEC said Centra had no relationship with either payment card network. The agency further stated that Sharma and Farkas created false marketing material, including fictional executives.