Centra Tech co-founders may claim advice of counsel defense in ongoing criminal case

Quick Take

  • The two co-founders of Centra Tech, a Floria-based ICO, have been indicted for securities fraud and other related offenses after they allegedly didn’t use the ICO proceeds for their original intention
  • The US Attorney’s office handling the case filed a motion to compel, asking the judge to force the defendants to answer whether they indent to build a defense on alleged “advice of counsel” for any of the charges 
  • The co-founders were allegedly advised by a man who leveraged success as an organizer during the Trump campaign to create a fake law career, without actually becoming a lawyer

Disclaimer: These summaries are provided for educational purposes only by Nelson Rosario and Stephen Palley. They are not legal advice. These are our opinions only, aren’t authorized by any past, present or future client or employer. Also we might change our minds. We contain multitudes.

As always, Rosario summaries are “NMR” and Palley summaries are “SDP".

[related id=1] United States v. Sohrab Sharma et al., Case №18-cr-340-LGS (S.D.N.Y. filed June 14, 2019)[NMR]

We’ve got a real wacky Centra Tech related update. For those that need a refresher, Centra Tech was the ICO out of Florida that had celebrity endorsements from none other than DJ Kh