Centra staff

  • Two luxury car-loving founders behind the crypto currency startup Centra have left the company just weeks after their company raised $32 million through an unregulated fundraising technique.
  • The founders, Sam Sharma and Raymond Trapani, left Centra after a New York Times article brought to light the pair’s on-going legal troubles.
  • Members of the crypto currency community have also shared concerns that Centra’s core product — a prepaid card for spending cryptocurrencies like bitcoin — may never be produced, though the company’s new lawyer says these fears are unfounded.

Two of the founders of a flashy crypto currency startup that raised $32 million last month amid a storm of skepticism about its business and leadership have abruptly left the company.

Sam Sharma and Raymond Trapani, who reportedly had no previous experience running an crypto currency business before founding Centra, but whose love of luxury cars and piles of cash are well documented on both social media and in court documents, “are stepping aside,” the company announced Oct. 31 in a blog post. Sharma most recently served as Centra’s president and Trapani as its chief operating officer, though both held various titles in the three-month whirlwind that’s marked the early days of the startup.

The co-founders made the decision to leave Centra on their own following an unflattering profile in The New York Times, said Allan Shutt, Centra’s general counsel, adding that it’s not unusual for founders to leave a company once it’s outgrown them. The Times article highlighted the pair’s relative inexperience in business and revealed that they have both been indicted for perjury in Manhattan.

RayTrapani_Facebook“It wasn’t a hard decision to say what is the best course here to push the company Read More Here