Where is Ray Trapani Now? Who is Ray Trapani?
by M Nishali
Updated Jan 04, 2024
Where is Ray Trapani Now?
Ray Trapani, formerly involved in the Centra Tech scam, avoided jail time by cooperating with authorities after being arrested in 2018. Currently, he's married, has a child, and owns a house, but questions arise about how he afforded it. Since the Bitconned Netflix documentary, Trapani is active online, addressing queries on his Twitter account. He clarified that he wasn't paid for the documentary and denied setting up a new loan company, as suggested.
Trapani revealed he's working on a book and podcast, aiming to delve deeper into his story. Despite expressing openness to a film adaptation, he acknowledged challenges due to publishers' wariness toward former criminals. His online presence includes interactions with viewers, offering insights beyond the documentary's scope, emphasizing that the documentary only scratches the surface of his experiences.
Who is Ray Trapani?
Ray Trapani, a key figure in the Bitconned Netflix documentary, was the Chief Operating Officer and co-founder of the dubious company Centra Tech. The documentary revealed that Trapani, along with associates Sam "Sorbee" Sharma and Robert Farkas, engaged in a cryptocurrency scam, convincing people to invest by falsely claiming celebrity endorsements and backing from major financial institutions.
Trapani, who had childhood aspirations of a criminal lifestyle, shifted from a failed car dealership venture in Miami to starting Centra Tech amid the cryptocurrency boom. The trio fabricated details about their education, created fake LinkedIn profiles, and developed the Centra Card, deceiving investors with the illusion of legitimacy.
Despite being arrested on multiple felony charges, Trapani escaped jail time by cooperating with authorities, ultimately being ordered to repay $2.9 million to victims. Currently, he is not in prison and has acquired a house with his family.
Full Name
Ray Trapani
Role
COO and Co-founder of Centra Tech
Background
Childhood ambition to become a criminal; later involved in a car dealership business called Miami Exotics and moved to cryptocurrency with Centra Tech
Financial Obligations
Ordered by the court to repay $2.9 million to victims
Current Status
Not in prison; resides in a house with his wife and son
Ray Trapani Age
Ray Trapani, in his early 30s, gained attention as the former Chief Operating Officer of Centra Tech, a cryptocurrency company involved in a major scam. The upcoming Netflix documentary, Bitconned, explores his journey from being the CEO of Miami Exotics, a luxury car rental dealership, to his foray into the cryptocurrency world.
Trapani's ambition to amass wealth led him to exploit the Bitcoin boom, resulting in his arrest in 2018 on securities and wire fraud charges related to Centra Tech's deceptive practices. Despite being convicted, Trapani's cooperation spared him additional prison time, and he was sentenced to three years of supervised release, along with a substantial fine.
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Ray Trapani Wife
In 2022, Ray Trapani, a key figure in the Netflix documentary "Bitconned," was married to Kimberly "Kim" Marie Costanzo Trapani. The documentary depicts their meeting in 2021 while Ray was out on bail, with an ankle bracelet on. Shortly after, Kim became pregnant, and the couple decided to get married. On the day of Ray's sentencing, their son Liam was born, though Ray couldn't be present for the birth due to his court appearance.
Instead, he witnessed the birth through a video call while on his way to the hospital. While the current status of Ray Trapani's marriage is not explicitly mentioned, the documentary provides insights into his relationship and family life during a crucial period of legal proceedings and personal events.
Is Ray Trapani in Jail?
Ray Trapani, co-founder of Centra Tech, is not currently in jail. In the Bitconned Netflix documentary, viewers learned about Trapani's role in a cryptocurrency scam alongside his associates Sam "Sorbee" Sharma and Robert Farkas. Despite orchestrating a scheme that involved fake endorsements from celebrities and deceptive practices, Trapani cooperated with authorities, which spared him from facing jail time.
While Sharma and Farkas received sentences of eight years and one year, respectively, Trapani was only ordered to repay $2.9 million to the scam's victims. Post-documentary, he purchased a house and resides with his wife and son, remaining active online and denying claims of setting up a new loan company.
What Happened to Ray Trapani?
Ray Trapani, featured in the Netflix documentary "Bitconned," managed to avoid jail time despite his involvement in the Centra Tech cryptocurrency fraud. The documentary sheds light on his questionable actions, where he and his associates deceived investors with a bitcoin-related scam. Trapani cooperated with federal authorities, resulting in a sentence of time served and a three-year supervised release.
Following the Centra Tech scandal, he underwent significant life changes, getting married to Kimberly "Kim" Marie Costanzo Trapani and becoming a father to a son named Liam. The documentary hints at financial ambiguities, particularly regarding the purchase of a house, but fails to provide concrete answers.
Despite the controversy surrounding his past, Trapani has been active on social media, addressing questions about the documentary on his verified Twitter account, where he's expressed interest in sharing more of his story through a book and a podcast, suggesting there's more to uncover beyond the documentary's scope.
Bitconned
"Bitconned" is a documentary on Netflix that tells a true-crime story about three guys who took advantage of the cryptocurrency market to cheat people out of a lot of money. These guys used tricky tactics to make millions from investors and live a luxurious life. The documentary, directed by Bryan Storkel, takes you behind the scenes of their cryptocurrency scheme and explores how they scammed people.
It features interviews with key figures involved, like Sam Bankman-Fried, Robert Farkas, Sohrab Sharma, and Ray Trapani. The film aims to show the ups and downs of their journey, exposing the dark side of the cryptocurrency world and the consequences faced by those who got caught up in the scam.
Where is Ray Trapani Now - FAQs
Since the Bitconned Netflix documentary, Ray Trapani is active online, working on a book and podcast. He has denied claims of setting up a new loan company.
No, Ray Trapani is not in jail. Despite his involvement in the cryptocurrency fraud, he avoided imprisonment and underwent a supervised release.
Post-Centra Tech scandal, Ray Trapani has purchased a house and resides with his wife and son. The documentary hints at financial ambiguities surrounding the house purchase.
Ray Trapani is the former Chief Operating Officer and co-founder of Centra Tech, a cryptocurrency company involved in a major scam.
Ray Trapani faced legal consequences but avoided jail time by cooperating with authorities. He was ordered to repay $2.9 million to the victims.