The court expelled Floyd Mayweather and DJ Khaled from the list of defendants in the ICO Centra case

The court expelled Floyd Mayweather and DJ Khaled from the list of defendants in the ICO Centra case

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Boxer Floyd Mayweather and music producer DJ Khaled, as well as two employees of the cryptocurrency project Centra Tech were excluded from the number of defendants in a lawsuit related to investor fraud during the ICO. It is reported by CoinDesk.

Mayweather and DJ Khaled promoted the Centra Tech ICO campaign on social networks, but federal judge Robert Scola found it unproven that the plaintiffs bought CTR tokens as a result of the actions of the defendants.

Omnibus Order on Motion to Dismiss – Mayweather, Khaled, Sykes, Stanley by ForkLog on Scribd “There is no evidence that plaintiffs even saw Mayweather and DJ Khaled’s promotional materials, not to mention that it was due to this ad that they acquired tokens Centra Tech, ”says the ruling.

In turn, the accusations against two Centra Tech employees Stephen Sykes and Stephen Stanley were based on the fact that they participated in the work of the project site. “The complainant’s complaint, however, lacks any specificity with regard to the content of the website at the time of its launch, the allegedly misleading information on the website, and who determined its content.

There is also no evidence that the plaintiffs ever visited the website at all, ”Judge Scola said. Nevertheless, the court will continue to consider the lawsuit against Centra Tech project founders Raymond Trapani, Sohrab Sharma and Robert Farkas on charges of fraud during an ICO.

They face up to 20 years in prison for using fictitious information about the company’s management and “non-existent business relationships” with Bancorp, Visa and Mastercard. Recall that the lawsuit against ICO Centra was filed in 2017. As part of the campaign, the project raised $ 32 million to develop a debit card for cryptocurrencies.

In November 2018, the US Securities and Exchange Commission (SEC) fined Floyd Mayweather and DJ Khaled for a total of $ 767.5 thousand for advertising a fraudulent ICO.

At the same time, Mayweather was forbidden to advertise any securities for three years, and DJ Khaled – two. In May 2019, representatives of Robert Farkas and Sohrab Sharma accused the FBI of illegally taking over the details of the correspondence in the Slack messenger.

The court expelled Floyd Mayweather and DJ Khaled from the list of defendants in the ICO Centra case

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