Can you introduce yourself as a Harvard graduate and make $170 million?
His scam became a documentary for Netflix. Let's see who is Ray Trapani, who lives a luxurious life with his fraud in the crypto market...
Ray, a drug addict, wanted to get rich quick. He realized the lack of regulation in crypto and founded Centra Tech by first copying another website
He then created a CEO profile with his grandfather's photo. In the profile he created, he introduced himself as a Harvard graduate. He managed to convince the crypto industry of a lie. Ray, who gained popularity, started advertising campaigns with the money he collected after making small purchases.
The campaign has snowballed, with celebrities such as former boxer Floyd Mayweather and music producer DJ Khaled supporting Centra Tech.
Centra Tech, which was founded on a lie, collected 170 million dollars, but since they did not make any progress with the money they collected, they even spent the money on luxury holidays with luxury cars instead of making improvements, and over time, they managed to get caught when users started to criticize them.
They were accused by the US Securities and Exchange Commission (SEC) of illegal ICO promotion and not disclosing the payment they received from Centra Tech to their followers, and they eventually confessed to what they had done, were found guilty and went to prison. Centra Tech, whose activities were the subject of Netflix, continues to be a subject of interest
I recommend you to watch a very useful documentary-like movie on NETFLIX, where you can learn the details of the lack of control of the crypto world, how simple the projects actually are, the possibility of projects that are swindled by phenomena to turn out to be scams, and where you can gain experience in distinguishing between good and bad projects.