Raymond Trapani

Raymond Trapani gained notoriety as a co-founder of Centra Tech, a cryptocurrency startup launched during the ICO boom of 2017. The company claimed to have created a Visa-compatible debit card for crypto users—boasting partnerships and licensed technology that were later revealed to be entirely fabricated. Trapani and his team raised over $30 million from eager investors based on these false promises.

The Netflix Documentary Revelations

The Netflix documentary Bitconned (released January 1, 2024) delves deep into Trapani’s rise and fall. He openly admits in the film that he and his co-founders “lied, we cheated, we made millions”. The documentary chronicles their lavish lifestyle and the unraveling of the scam, highlighting how fabricated LinkedIn credentials and fake endorsements deceived both investors and the media .

A Life of Crime

Tap into Trapani’s past, and darker undertones emerge. His early life was marked by illegal activity—he once used stolen prescription pads to purchase and sell opioids as a teenager. His criminal trajectory continued into adulthood when he orchestrated the Centra Tech fraud, resulting in an SEC investigation that revealed the entire operation as one giant deception.

Legal Consequences and Cooperation

Following the exposure of the scam, authorities cracked down. Trapani pled guilty to ten counts, including securities and wire fraud, after cooperating with federal investigators. He received a sentence of time served, followed by probation lasting three years . His co-founder Sam “Sobre” Sharma received an eight-year prison sentence, while CFO Robert Farkas served about a year.

Personality Profile and Public Perception

The documentary and commentary paint Trapani as charismatic yet unsettlingly honest about his intent: “I always wanted to be a criminal”. His behavior and demeanor led some viewers to describe him as a “walking psychopath,” displaying characteristics of antisocial personality disorder. He admits to exploiting trust, manipulating public perception, and displaying little remorse.

Ongoing Relevance and Reputation

As of 2024–2025, Trapani remains publicly engaged—sharing the Bitconned promos on social media and appearing in related media interviews. He has launched a podcast-inspired by his story and is open about his past in interviews, although skepticism is high from analysts who view him as emblematic of broader risks in unregulated crypto markets .

Conclusion

Ray Trapani represents a cautionary tale from the ICO era: a charming yet dangerous figure whose exploits blurred the line between entrepreneurship and outright fraud. His rise, fall, and subsequent attempts at public redemption underscore the need for rigorous due diligence in crypto investments. Rational actors should treat any business associated with Trapani as carrying extraordinary risk, given his background and demonstrated willingness to deceive.