“Who’s the best”
Late Tuesday, the Securities and Exchange Commission charged the founders of an ICO, Centra, with fraud, saying the creators raised $32 million from investors with an intricate marketing campaign, including the use of paid endorsements from prominent celebrities such as boxer Floyd Mayweather and singer DJ Khaled.
“We allege that Centra [Tech] sold investors on the promise of new digital technologies by using a sophisticated marketing campaign to spin a web of lies about their supposed partnerships with legitimate businesses,” said Stephanie Avakian, co-director of the SEC’s Division of Enforcement. “As the complaint alleges, these and other claims were simply false.”