The world of Sohrab Sam Sharma completely crashed on April 1, 2018, when he was taken into custody by the FBI on multiple counts of banking and securities fraud. After all, he was the main person to have taken advantage of the erratic Bitcoin market to steal millions from gullible investors back then, as thoroughly examined in Netflix’s “Bitconned.”
So, even though he served eight years in federal jail if all you want to know about his earnings, income, and total net worth as of writing, we have the information for you.
Netflix’s Bitconned: Meet Sohrab Sam Sharma, Centra Tech Co-Founder
Florida resident Sohrab “Sam” Sharma founded Centra and held several positions there, including president and chief technology officer. Sohrab officially announced his resignation from Centra on October 31, 2017, citing his desire to “support the continued growth of the Company.” At the time of Centra’s establishment, Sohrab owned 100% of the company. On April 1, 2018, officials of the Federal Bureau of Investigation (“FBI”) took Sohrab into custody.
Sohrab was co-founder of the company involved in the Centra Tech scam along with his partners Robert Farkas and Ray Trapani. Robert, 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 Sohrab Sam Sharma Now?
The SEC decided to file a lawsuit against the owners of Centra Tech in April 2018. Sohrab was accused of operating an unlicensed and fraudulent coin offering under the Centra Tech company, defrauding investors out of about $32 million. Sam’s arrest attracted widespread attention because he was the individual who had researched cryptocurrencies the most and was said to have generated most of the concepts that Centra Tech was founded around.
The willingness of Robert Farkas, the third cog in the Centra Tech machine, and Ray Trapani to testify against Sohrab helped the prosecutors in their legal battle against him. Sohrab entered a guilty plea to conspiring to commit mail fraud, wire fraud, and securities fraud on July 17, 2020. Sam was given a sentence of eight years in prison on March 4, 2021, which came after this. Robert claims that Sam’s parents were present during the social distancing process that was used for sentencing. In addition, he was ordered to forfeit $36,088,960, pay a $20,000 fine, and serve a three-year supervised release period.
Sohrab received a sentence that was much longer than Robert’s due to his major role in the plan that Centra Tech had created, while Ray only received a time-served penalty. Sam’s release date is August 19, 2027, taking into account the time he served before being sentenced. He’s currently in the Federal Prison Camp in Montgomery, Alabama, as of this writing. Although he is not mentioned specifically in the Netflix documentary, the director made an effort to get in touch with him and his group.
Sohrab did not commit the crimes that the movie would be making him out to have committed, according to a statement released by Sohrab’s team.
“He is excited to share the real story of Centra Tech’s history in the near future,” his team continued. People who know Sam say they think he might still be holding onto the money he made with Centra Tech, he just put it away carefully and hasn’t been linked to it.
Sohrab Sam Sharma Net Worth
According to The Cinemaholic, the estimated net worth of Sohrab Sam Sharma is around $8 to $10 million.
Sohrab Sam Sharma Age
In 2023, Sohrab Sam Sharma was 32 years old.
Is Sohrab Sam Sharma Married?
When he co-founded Centra Tech, Sohrab Sam Sharma was in a relationship with Robert Farkas’s sister Brielle Farkas. He appears to be in a relationship as well, which Kerri, Ray’s mother, also knows.
Sohrab, an Aventura, Florida resident, was found guilty on March 4, 2021, of leading a criminal operation at Centra Tech. He was given an eight-year prison sentence, with three years of supervised release. To make up for the losses he caused to his victims, he was also ordered to forfeit an additional $36,088,960 and pay a fine of $20,000; however, records indicate that as of this writing, none of the victims had received any kind of support.
Related FAQs
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Where Is Sohrab Sam Sharma From?
Sohrab Sam Sharma is reportedly the resident of Aventura, Florida.
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Is Sohrab Sam Sharma On Instagram?
No, Sohrab Sam Sharma doesn’t appear to be on Instagram.
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When Is Sohrab Sam Sharma Birthday?
Sohrab Sam Sharma’s birthday is not available.
