Content
Bitconned on Netflix: Who Is Centra Tech Co-Founder Ray Trapani?
Netflix recently released a new documentary called Bitconned that focused on three individuals who scammed millions of dollars. One of these infamous scammers is Ray Trapani, the co-founder of Centra Tech. Trapani and Sam “Sorbee” Sharma became friends as early as high school and it was Sharma who introduced his friend to cryptocurrency. As Trapani needed money to pay back his student loans, he decided to use this rich opportunity to try and get rich quick.
Trapani and his two former classmates began a legitimate business with its main focus on renting out luxury cars to different people in Miami. Yet due to their recklessness with money, the business turned south and Ray became indisposed to its failure.
The synopsis of Bitconned details how during the market frenzy of the Bitcoin market, Trapani saw an opening. His good friend’s idea of creating a cryptocurrency debit card made his dream come true yet since Trapani had zero clue on what he was doing, they took part in several illegal activities. Unauthorized LinkedIn profiles, paid celebrity endorsements caused investors to pour money into Centra Tech and fraudulently made Trapani and his team millions of dollars a day.
The Securities & Exchange Commission and several other law enforcement agencies across the country caught onto this scam and began investigating the actions of Trapani, Sharma, and Farkis of Centra Tech. Eventually, Trapiani charged psychiatrists and 10 counts including wire fraud and secure fraud. He was given three years of supervised release and almost a $3 million fine to pay in full before the period could be lifted.
Bryan Storkel directed the film Bitconned, so viewers could gain a better understanding of scammers like Ray Trapani.
