Centra Tech Can’t Dodge Default Or Arbitrate Investor Suit

Law360 (September 13, 2019, 4:39 PM EDT) — A Florida federal judge said Thursday that shuttered cryptocurrency platform Centra Tech Inc. will not be able to arbitrate or set aside a default judgment in a securities suit over its allegedly fraudulent initial coin offering.

U.S. District Judge Robert N. Scola Jr. said in his order that although Centra co-founder Sohrab Sharma’s communications may have been restricted while he’s been in custody for a related criminal case over the $32 million ICO, no evidence on the record indicates that he couldn’t have picked up the phone to retain counsel for his company or respond to the complaint in a timely…

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