Floyd Mayweather-backed cryptocurrency ICO was fraud, SEC says

The two founders of a cryptocurrency firm called Centra have been charged with with carrying out a fraudulent initial coin offering (ICO) by the Securities and Exchange Commission (SEC). Centra raised $32 million via an ICO which was promoted by boxer Floyd Mayweather.

Sohrab ‘Sam’ Sharma and Robert Farkas, co-founders of Centra were arrested.

Source: cnbc.com