The second of the three co-founders of cryptocurrency firm Centra Tech, Sohrab Sharma, is reportedly planning to plead guilty in $25 million ICO scam.
Sharma may avoid a November trial date as his lawyers told a federal judge he would be interested in changing his plea.
Earlier, another one Centra Tech’s co-founder Robert Farkas was convicted of conspiring to commit securities and wire fraud on June 16. Farkas faces up to 87 months in prison and a $250,000 fine.
The case of the third co-founder is still scheduled for trial in November.
Three founders of Centra Tech scam — Sharma, Farkas, and Raymond Trapani — were arrested in April 2018. The company claimed about partnerships with major firms, including credit card giant Visa to dupe people into investing in Centra Tech’s ICO.