Robert Farkas, one of the co-founders of Centra Tech, is the subject of Netflix’s 2024 show Bitconned. He appeared on the show to reflect on one of the first scams that occurred in the world of Cryptocurrency. So, where is he now? How old is he? How much is his net worth?
Here is what we know about him.
Netflix’s Bitconned: Meet Robert Farkas, Centra Tech Co-Founder
Robert Farkas was co-founder of the company involved in the Centra Tech scam along with his partners Ray Trapani and Sohrab Sharma. Farkas, the brother of Sohrab’s girlfriend, and Raymond had worked with Sohrab at a Miami luxury car rental company they started named Miami Exotics.
During his presentation to potential investors, Sohrab claimed that the CEO of Centra Tech was Harvard-trained, had agreements with major corporations such as Visa Inc. and Mastercard Inc., and held licenses in over thirty states.
The new Netflix show premiered on 1 January 2024 and focused on the first cryptocurrency scams. The foundation of Centra Tech was a web of falsehoods, including a phony CEO, nonexistent partnerships, and nonexistent technology.
The three co-founders of Centra Tech, Sohrab, Raymond, and Robert, would be charged with fraud for their individual roles in the company less than a year after it opened for business. But not every one of their sentences was the same.
Robert was the last co-founder of Centra Tech, according to Bitconned. In July 2017, Robert and his partners, Raymond and Sohrab, held an ICO, or token sale, raising $25 million from investors who had believed Centra Tech’s claims.
Trapani states in the video that Farkas was “definitely not qualified to be CFO,” but he also notes that Centra Tech required a new CFO to keep up with the company’s increasing amount of online attention.
“I was doing conferences, setting up booths, getting the community involved,” Robert says in the doc. “It felt like we were changing the world.” According to Robert in Bitconned, Centra Tech hired Eric Pope, a college student, as a pretend attorney when the company needed legal advice. “He gave us phony emails pertaining to the Securities and Exchange Commission. In the documentary, Robert remembers that “it was all a lie.”
Floyd Mayweather Jr. and DJ Khaled also had to pay fines for their roles in promoting Centra Tech without revealing payments from the company, in addition to the Centra Tech team.
Where Is Robert Farkas Now?
The SEC had not given Centra Tech its clearance. In April 2018, Robert and Sohrab were the first to face charges, and Trapani was added a few weeks later. “Farkas made flight reservations to leave the country, but he was arrested before he was able to board his flight,” the agency said.
According to the United States Attorney’s Office, Robert entered a guilty plea to “conspiring to commit securities fraud and wire fraud” in 2020 and was subsequently sentenced to one year in prison. Robert was able to participate in sharing Centra Tech’s narrative for Bitconned now that he was released from prison, and he is angry that Raymond got away with absolutely no jail time.
He also questioned the government’s “audacity” to describe Raymond as a “good guy” after the judge described Raymond’s cooperation as “extraordinary.”
Robert Farkas Net Worth
In 2024, Robert Farkas’s estimated net worth exceeded $500 thousand. He faced three years of supervised release and forfeited $347,062 and a Rolex watch was purchased with the proceeds of the scam.
Prior to this, Robert entered a guilty plea to charges of conspiring to commit wire fraud and securities fraud concerning the use of substantial omissions and misrepresentations to entice investors to buy securities in the form of the company’s tokens.
Lan T. Graff, top counsel to the acting U.S. attorney, stated in a statement that “Farkas and his co-conspirators created fictitious executives and fabricated business relationships with legitimate institutions to dupe investors into handing over millions of dollars for a fraudulent ICO.”
Robert Farkas Age
Born in October 1986, Robert Farkas turned 37 years old in 2023.
Is Robert Farkas Married?
The current marital status of Robert Farkas is unclear. He is very private when it comes to his personal life.
Related FAQs
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When Is Robert Farkas Birthday?
Robert Farkas celebrates his birthday in October.
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Where Is Robert Farkas From?
The public record reveals that Robert Farkas hailed from Miami Beach, Florida.
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Is Robert Farkas On Instagram?
It is not clear if Robert Farkas is available on Instagram.
