Skip to content
Subscriber Only

Crypto Firm Co-Founder to Plead Guilty in Celeb-Touted Scam

\"justice concept, selective focus on nearest part ,lens blur f/x\"
Photographer: Kuzma/iStockphoto
Updated on

The third co-founder of a cryptocurrency firm plans to plead guilty to duping investors into putting more than $25 million in an initial coin offering that the company promoted with the help of celebrities including boxer Floyd Mayweather and musician DJ Khaled.

Sohrab “Sam” Sharma, co-founder of Centra Tech Inc., has agreed to change his plea, his lawyers told U.S. District Judge Lorna G. Schofield in a court filing Monday in New York. Sharma had been scheduled to go to trial in November.