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Sharma Was  Re-Arrested After Got 8 Years With Seized ETH Wallet now Trapani Gets Time Served

By Matthew Russell Lee, Patreon
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SDNY COURTHOUSE, April 5 – Robert Farkas was up for sentencing on December 15, on fraud charges related to crypto-currency. Inner City Press covered it.  And now, on August 20, 2021, the re-arrest of Sohrab Sharma:

"Re: United States v. Sohrab Sharma, S3 18 Cr. 340 (LGS) Dear Judge Schofield: The Government writes to provide the Court with a brief update regarding the execution of the Court’s August 17, 2021 bench warrant authorizing federal law enforcement agents to arrest defendant Sohrab Sharma for violating the Court-ordered conditions of his release on bail in this case. Law enforcement agents with the United States Marshals Service arrested Sharma on August 18, 2021 in the Southern District of Florida when he appeared for a scheduled urinalysis exam at the Probation Office. Later the same day, Sharma was presented, in the Southern District of Florida, before United States Magistrate Judge Jacqueline Becerra. During the presentment, the Government requested that Sharma be detained and ordered removed to this District for further bail violation proceedings before this Court, pursuant to 18 U.S.C. § 3148. Sharma, through his counsel, conveyed that he would be seeking release on bail conditions, and requested several days to prepare for a hearing on his bail application. Accordingly, Judge Becerra scheduled a bail hearing for Monday, August 23, 2021 at 10 a.m. before United States Magistrate Judge John J. O’Sullivan, and remanded Sharma pending the August 23 bail hearing. At the hearing, the Government intends to continue to seek Sharma’s detention and removal to this District for further bail violation proceedings before this Court."

But at that bail hearing, Sharma was again ordered released "with the additional requirement of a $1,000,000 personal surety bond signed by Mr. Sharma's fiance Brielle Farkas and Mr. Sharma's mother, Fourazan Looladi and to surrender at FCI Coleman... within 24 hours." He wants Judge Schofield to sign off.

Now on August 27, the AUSA has written that "the Government has confirmed with staff from F.C.I. Coleman that Sharma is in the custody." Watch this site.

  U.S. District Court for the Southern District of New York Judge Lorna G. Schofield held the sentencing.

Farkas' lawyer emphasized that his client grew up in rural New Jersey and was not really a tech guy.

He said Farkas had served 55 days at the beginning of the case, in maximum security Federal facilities in Miami, then Atlanta, then Oklahoma and finally the MCC. 

 Judge Schofield asked if there were any victims on the line, and some beeping and loss of reception began.

On January 19, victims filed a claim for some of the $33 million (100,000 ETH) they say now DOJ is trying to keep for its Assets Forfeiture Fund.

Rensel, Yun Hi, Hao Poon, Fung Poon, Jae J. Lee, Rodney Warren and Mateusz Ganczarek requested a hearing to adjudicated their interest in a portion of the Victim Fund and for restitution instead of forfeiture.

On March 4, Sohrab Sharma got eight years. Inner City Press live tweeted it here and below.

Now in July, co-defendant Trapani gets permission to travel: "MEMO ENDORSEMENT as to Raymond Trapani (2) granting [512] LETTER MOTION addressed to Judge Lorna G. Schofield from Joseph A. Bondy dated July 12, 2021 re: Request for Modification of Pre-Trial Release, to Allow Travel to Boston, MA, from July 20-23, 2021. ENDORSEMENT: Application Granted. The Clerk of the Court is directed to terminate the letter motion at docket number 512. (Signed by Judge Lorna G. Schofield).

In April 2022, Trapani got time served: "Raymond Trapani (2). THE DEFENDANT: pleaded guilty to counts 1s, 2s, 3s, 4s, 5s, 6s, 7s, 8s, 9s, and 10s. Counts 1,2,3, and 4 are dismissed on the motion of the United States. IMPRISONMENT: TIME SERVED on all counts. SUPERVISED RELEASE: 3 Years on to run concurrently on all counts."

On restitution - Assistant US Attorney argued that the claimants will not be able to show that the Ether / "Ethereum" in Sharma's wallets belong to them. But Judge Schofield seems ready to allow an amended petition.

Judge Schofield says new petition seeking the Ether in Sharma's wallet is due March 15, Government opposition by March 22 (and then a reply). She'll issue a written decision on the forfeiture decision.

Judge Schofield: OK, let's proceed to the sentencing of Mr. Sharma. I acknowledge letters from two of his uncles, his girlfriend, his future sister in law and employees, and others

 Judge Schofield: Sharma wants a downward variance, saying this his prior crimes were about substance abuse, not violence. If I accept that, the bottom of the guidelines range would move to 12 years and 7 months - still substantial.

 Assistant US Attorney: This defendant received $36 million from his crimes. He diverted money for personal expenses, high end retail purchases.

 And here it is: Sharma has been sentenced to eight years, followed by three years of supervised release and a fine of $20,000.  He was ordered to forfeit $36,088,960 - that's the ongoing fight.

Watch this site.

 The US Attorney's Office announced: Farkas "was sentenced on December 15 to one year and one day in prison, in connection with his participation in a scheme to induce victims to invest more than $25 million dollars’ worth of digital funds in Centra Tech, Inc. (“Centra Tech”), a Miami-based company he co-founded and that purported to offer cryptocurrency-related financial products.

FARKAS previously pled guilty to conspiring to commit securities fraud and wire fraud in connection with his and his co-conspirators’ use of material misrepresentations and omissions to solicit investors to purchase securities, in the form of digital tokens issued by Centra Tech, through an initial coin offering beginning in approximately July 2017."  Meanwhile, more delay in the OneCoin case...

This case is US v. Sharma, et al., 18-cr-340 (Schofield)


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