Two heads of a tech company that raised tens of millions through an initial coin offering for what was sold as the world’s first multi-blockchain debit card now face federal civil and criminal charges for allegedly defrauding investors.

Sohrab Sharma and Robert Farkas, identified by officials as the co-founders of Centra Tech Inc., were charged with securities and wire fraud by the U.S. Securities and Exchange Commission, and securities and wire fraud charges by the Justice Department. The charges were filed in the U.S. District Court for the Southern District of New York. The pair were arrested in Florida on Sunday, and appeared before the local district court on Monday.

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