## Bitconned: The Netflix Documentary Exposing Raymond Trapani and Centra Tech's Biggest Crypto Scam

Netflix will premiere a new documentary titled "Bitconned" in January 2024 that unravels one of the most emblematic crypto scams in the industry: the case of **Raymond Trapani** and his company Centra Tech. Directed by Bryan Storkel (known for works like "The Legend of Cocaine Island" and "The Pez Outlaw"), the film promises to offer an in-depth look at how unchecked ambition can turn into organized fraud within the crypto ecosystem.

### The story of Raymond Trapani: from ambition to fraud

**Raymond Trapani** is the central figure of this story. According to legal documents, his interest in making profits through questionable methods has been a constant since early ages, reaching a critical point when he partnered with Sohrab "Sam" Sharma and Robert Farkas to found Centra Tech in 2017, just as Bitcoin was reaching its all-time high.

The strategy was sophisticated: the co-founders developed a debit card as their flagship product, which they used to back an Initial Coin Offering (ICO) that managed to raise approximately **25 million dollars** from trusting investors. To achieve this, they employed false statements and deliberate omissions of critical information that incentivized financial participation.

### Legal consequences: Raymond Trapani and his accomplices

U.S. authorities identified irregularities in the ICO, resulting in multiple charges against those involved. **Raymond Trapani** pleaded guilty to ten different charges, including financial fraud, telematic fraud, obstruction of justice, and crimes related to credit cards, among others.

As a result, Trapani was sentenced to prison and ordered to pay back **2,608,869 dollars** to the victims. His partners fared no better: Sohrab Sharma was sentenced to return no less than **37,701,966 dollars**, while Robert Farkas also received prison sentences and significant financial penalties.

### The broader context: increasing crypto scams

The case of **Raymond Trapani** and Centra Tech is not isolated. Projects like SafeMoon have followed similar patterns, becoming involved in investigations by the Securities and Exchange Commission (SEC) for violations of securities sale regulations. The U.S. Department of Justice intensified its efforts against these crimes with the creation of the Darknet Marketplace and Digital Coin Crimes (DNMDCC) task force in June 2023, reflecting a more robust government strategy against crypto scams.

The Netflix documentary arrives at a time when the crypto industry demands greater scrutiny and transparency, reminding potential investors of the dangers of projects lacking proper regulation.