Bitconned’ Explained: What Happened To Ray Trapani And Centra Tech?



From the get-go, Bitconned introduces us to the mastermind behind the multimillion-dollar scam, Ray Trapani. Picture this: a suave scammer with a knack for making unlawful endeavors look like a stroll in the park. But where did it all start? Ray’s upbringing reveals a mix of struggles and an absent father, with his grandfather, Bill, stepping in as the paternal figure. Now, Bill’s professional life remains shrouded in mystery – was he a legit businessman or a mafia gangster? Ray’s claims of suitcases filled with money at grandpa’s house add to the intrigue.


Enter Sorbee and Cryptocurrency Craze

Amidst legal ventures, Ray’s friend Sorbee Sharma introduced him to the rising world of cryptocurrencies in 2009. The duo saw potential in Initial Coin Offerings (ICOs) and founded Centra Tech. Their pitch? A revolutionary credit card allowing real-time transactions using cryptocurrencies. Sounds fancy, right?


Centra Tech’s House of Cards Unveiled

Now, here’s where the plot thickens. Centra Tech’s website boasted professionalism with logos from registered payment partners like VISA and Bancorp. The catch? The entire website was a clone of another company’s, TenX from Singapore. Ray and Sorbee, now joined by CFO Robert Farkas, orchestrated an elaborate scam, attracting investors with promises of launching their cryptocurrency credit card.

The house of cards started to crumble when journalist Nathaniel Popper began investigating cryptocurrency investments. Centra’s claims of having Harvard graduates and ex-Wells Fargo executives raised suspicions. Even celebrity endorsements from Floyd Mayweather and DJ Khaled couldn’t save them. As the New York Times article exposed Centra Tech’s web of lies, the SEC stepped in, labeling it a fraudulent scam in 2018.


Fates of the Centra Tech Trio Unravel

Ray Trapani, the puppet master, pulled off a slick move. In exchange for ratting out his cohorts, he pleaded guilty, cooperated with the FBI, and walked away with no jail time. Meanwhile, Robert Farkas served a year in prison, and Sorbee Sharma, lacking Ray’s family influence, got an eight-year sentence. Ironically, a fake online lawyer played a part in leading Centra Tech into more trouble.

Bitconned concludes with a bitter truth – none of the investors recovered their money. Ray Trapani’s post-trial luxury home purchase raises questions about the funds’ whereabouts, leaving a lingering sense of injustice.



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