American streaming giant Netflix has become the talk of the town ever since a documentary named Bitconned was released on January 1, 2023. As the name suggests, Bitconned is the story of fraudsters who carried out fraud in the world of Bitcoins and cryptocurrency. Directed by Bryan Storkel, Bitconned is a true story of three founders of Centra Tech, a company that got overnight fame after it stated that they were making a debit card that is linked with the users' crypto account. Meaning, that users can withdraw 'real' money and even make payments based on their crypto earnings. Bitconned is a one-of-a-kind documentary that Netflix has successfully nailed as the streaming giant has brought every aspect of the crypto fraud that was carried out by Centra Tech's founders- Ray Tripani, Sam Sorbee Sharma, and Robert Farkas.
Since you have landed on this page, True Scoop News assumes that you have already watched Bitconned on Netflix and have multiple questions related to Centra Tech's founder Ray Tripani, or Raymond Tripani. Notably, Centra Tech Co-Founder Ray Tripani was the only person who did not serve any jail time even though confessed of running a fraudulent and fake crypto company Centra Tech with the claims that they have the technology that will link a person's debit card to their crypto account.
Bitconned True Story
Bitconned is a true story that chronicles the rise of Centra Tech a fake company created by Sam Sorbee Sharma and Ray Tripani. After the failure of the company Miami Exotics (a luxury car rental company), Sam Sorbee introduced Ray to the world of crypto and explained to him how they earn money overnight. Trapani who was in heavy debt from student loans and needed a way to make a lot of money, went ahead with the idea of setting up a bogus company with a bogus degree at Harvard Business School.
For the first six months, Centra Tech did not get any boom. However, Clif High (a crypto guru) blunder for mistakingly gave a shoutout to Centra Tech on his YouTube video. As a result, people started to pour millions of dollars into Centra Tech, and from there the company took off. To showcase the company legit, Centra's founders rented a big, luxurious place for an office and started to interact with their community. In fact, Centra Tech was pumped with 32 million dollars by both Americans as well as South Koreans. However, everything came down after New York Times reporter Nathaniel Popper exposed them in his write-up. Following that Centra was never able to back up.
As a result, all three members- Ray Tripani, Sam Sorbee Sharma, and Robert Farkas were arrested by the FBI. Since Ray was very high on drugs, he was sent to rehab for four years. In the meantime, Robert and Farkas were sentenced to prison. Sam was sentenced to 8 years in prison, while Farkas was sentenced to one year in prison, However, Ray did not serve as a sentence due to his 'extraordinary' cooperation with the Feds.
Where is Ray Tripani and what does he do now?
Ray says he is starting a new business offering loans to “people in need” at 50 percent interest. He is calling it Cambridge & Brown, named after two prestigious universities. However, where Ray got his money to start a new business remains a mystery. Notably, the FBI had confiscated 100,000 Etheriums from Centra.