Ray Trapani, a central figure in the cryptocurrency world, gained notoriety for his involvement in the Centra Tech scam.
Born in 1992 in Atlantic Beach, New York, Trapani’s journey took a dark turn as he, along with partners Sohrab Sharma and Robert Farkas, orchestrated one of the biggest crypto frauds during the 2017 Bitcoin boom.
The trio launched Centra Tech, promising a revolutionary debit card and initiating a $25 million Initial Coin Offering. Trapani’s dubious actions led to charges of financial fraud, telematic fraud, and more.
With a guilty plea, he faced imprisonment and a hefty restitution. Learn more about him, and the scam story through this comprehensive article.
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Who Is Ray Trapani From Bitconned? Wikipedia And Age
In the world of cryptocurrency, one name that resonates with controversy is Ray Trapani, an American citizen born in 1992 in Atlantic Beach, New York.
Now in his early 30s, Trapani gained notoriety for his involvement in crypto fraud through a company called Centra Tech. As the story unfolds, delving into his background provides insights into the enigmatic figure.
Ray Trapani’s journey traces back to Lawrence High School in Cedarhurst, New York. Following his education, he planted roots in the bustling city of New York, where he currently resides.
Before the Centra Tech scandal, Trapani navigated through diverse professional experiences. His career path led him through two distinct companies.
From November 2014 to December 2016, he served as the CEO of Miami Exotics, an endeavour that boasted a 34-car fleet of exotic and luxury vehicles, including Rolls Royce, Ferraris, Lamborghinis, and Maseratis.
Trapani meticulously managed the business, ensuring the seamless operation of both the rental and dealership aspects. With a 20-man staff under his purview, he orchestrated the buying and selling of high-end vehicles.
Before his foray into the luxury car business, Trapani spent three years and ten months as General Foreman at Safway Atlantic, one of the largest construction companies in the U.S.
Based in Greater New York City, he oversaw multiple job sites simultaneously, including iconic projects like The Rockefeller Center Christmas Tree and the scaffolding for the World Trade Center.
Past this, Ray Trapani is known for his close-knit family ties, particularly with his parents and grandparents. As Ray Trapani’s story continues to unfold, it serves as a cautionary tale in the ever-evolving landscape of cryptocurrency and finance.
The Bitconned sheds light on the intricate web of individuals who played a role in shaping this narrative, with Trapani’s past endeavours and family connections to the scam.
Ray Trapani Centra Tech Scam And Netflix Documentary
In the vast realm of cryptocurrency scandals, the story of Ray Trapani takes centre stage in the gripping Netflix documentary, “Bitconned.”
The film, directed by Bryan Storkel and released on January 1, 2024, delves into the notorious crypto scam orchestrated by Trapani and his accomplices during the peak of the Bitcoin boom in 2017.
From his early days harbouring a desire to be a criminal, Ray Trapani emerges as the protagonist of the film, chronicling his journey in creating one of the biggest crypto scams associated with Centra Tech.
Alongside partners Sohrab Sharma and Robert Farkas, Trapani ventured into the crypto world, introducing Centra Tech and its enticing offerings, including a debit card.
The heart of the scam lay in the Initial Coin Offering (ICO) initiated by Trapani, which aimed to raise a staggering $25 million from eager investors.
However, the illegality of the ICO, coupled with false statements and material omissions that misled investors, resulted in charges against Trapani and his partners.
In the documentary, Trapani unabashedly discusses his involvement in the elaborate scheme that marked the rise and fall of Centra Tech.
The court records reveal that Trapani faced ten separate counts, including criminal association aimed at financial fraud, telematic fraud against Centra Tech, and obstruction of justice.
It also included involvement in various other criminal activities such as telematic fraud against Venmo and Miami Exotics, internet fraud, and illegal possession of firearms, and narcotics.
As a consequence of his guilty plea, Ray Trapani was ordered to repay $2,608,869 and sentenced to prison for a period of time.
Trapani’s co-founders, Sohrab Sharma and Robert Farkas, also faced legal consequences, with heavy financial penalties and prison sentences as a result of their involvement in the Centra Tech scam.
However, primarily, the documentary not only unravels the intricate details of the crypto scam but also provides a glimpse into Trapani’s unscrupulous mindset.
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