Scams, Money, & Murder — INTERVIEW: Centra Tech with Jacob Rensel

Date: August 21, 2025
Host: Nicole Lapin
Guest: Jacob Rensel

Episode Overview

This episode of Scams, Money & Murder features a gripping interview with Jacob Rensel, a military veteran who became one of Centra Tech's earliest—and ultimately most skeptical—investors. Jacob shares how the flashy promises of Centra Tech lured him in, the unraveling of the company’s fraud, and his pivotal role as the lead plaintiff in the class action lawsuit that followed. The discussion explores the psychological and practical realities behind investment scams, the power of celebrity endorsements, and the lessons learned in the wake of crypto’s most notorious collapses.

Key Discussion Points & Insights

Jacob’s Background and Entry into Crypto

• Military Roots & Financial Philosophy

  • Jacob had little investment experience before Centra Tech:

    “I was just a 20 year old... Before Centra Tech, absolutely zero experience.” (04:36)

  • Service in Afghanistan shaped his outlook:

    “It made me take a more serious look at what was I doing...because others were not coming back. That weighs heavy on you.” (05:54)

• Discovering Centra Tech

  • Influenced by online research and discussions with fellow soldiers.
  • The main draw was Centra Tech’s supposed solution for spending crypto easily via a debit card, alongside promised dividends from transaction fees, much like established credit card networks.

The Centra Tech Pitch: Why It Worked

• Appealing Features

  • Centra Tech claimed institutional backers—Visa, MasterCard, Bancorp.
  • Promised both cutting-edge crypto usability and regular financial returns.

• Celebrity Endorsements

  • The addition of high-profile names (Floyd Mayweather, DJ Khaled) boosted perceived legitimacy and created “hype”—if not necessarily increased credibility for Jacob himself, but:

    “It’s more about how many eyes are getting on something…it would then raise the price of the token itself.” (12:17)

• Jacob’s Investment

  • Invested approximately $4,700, which for him was “everything.” (12:59)
  • At the peak, his holdings were worth ~$20,000, fueling dreams and optimism about his future (15:19).

Cracks in the Facade

• Initial Doubts and Influencer Fallout

  • The turning point came with a disastrous interview between co-founder Sam Sharma and early notable supporter Cliff High, whose questions exposed glaring inconsistencies.

    • “The facade was being ripped off in real time. Everybody was seeing what was happening and that interview was just a train wreck.” (19:04)

  • Removal of Bancorp, Visa, and MasterCard logos from the website and white paper were key red flags.

    “When you put all your money into something, you become very invested in the emotional aspect of that...So anytime there was a change...I was already on it.” (21:58)

• Suppression of Criticism

  • Jacob’s persistent questioning led to his ban from company Slack and even a personal attempt from founder Sam Sharma to pay him (in scam tokens) to keep quiet.

    “They tried to pay me in Centra Token first. Personally, Sam reached out to me on Facebook...offered me about...25 grand.” (24:54)

Turning Whistleblower and Class Action Plaintiff

• Motivation

  • Jacob, feeling “obsessed with taking these guys down,” began methodically collecting evidence; he eventually contacted a law firm advertising for Centra Tech victims.

    “They had angered me so much that I was looking at taking them down as much as I could.” (26:37)

• Joining the Legal Fight

  • His documentation and initiative made him the lead plaintiff in the class action suit against Centra Tech.

    “You are the perfect person. And this never happens. Nobody comes with all this information.” (27:10)

  • Encountered stories of devastating loss, including a woman who lost her child’s entire college fund:

    “That one was really sad. And she was bawling during the testimony. It was just not. That was terrible.” (29:11)

How the Scam Worked

• Phony Technology and Endorsements

  • No actual debit card, technology, or legitimate partnerships ever materialized.

    “They were claiming that they had a working debit card...and all these different backers. And ultimately that in and of itself is a fraud.” (33:14)

  • Faked marketing videos with DJ Khaled and Mayweather:

    “The most egregious fraud would probably be the footage...using the cards is probably the most flagrant use of fraud, because none of that was real.” (34:42)

• Attempted Bribery and Legal Maneuvers

  • Company tried to pay off critics like Jacob and (allegedly) Cliff High with scam tokens.
  • SEC filed its own suit, following much of the groundwork laid by Jacob’s legal team.

Legal Outcome and Aftermath

• Restitution and Sentencing

  • Remission fund established, but most victims weren’t made whole.

    “I don’t believe that they got all of the funds to begin with. I think there’s still funds out there and I don’t think people were made whole through the remission process.” (35:45)

  • Tens of millions (potentially up to $250M) raised; large portions remain unaccounted for.

    “Where’s the rest of the money? Why didn’t they seize any of that or ask for their financials...?” (36:48)

  • At least one founder, Raymond Trapani, received “time served”; Jacob felt this was not sufficient:

    “Even though Raymond got time served, and I don’t necessarily agree with that, and I don’t like his sentencing, I have to trust our judicial system.” (38:03)

• On Celebrity Endorsements

  • Aftermath saw increased scrutiny on influencers for failing to disclose paid promotions.

    “I know that others were getting charged because they were not disclosing that they were being paid for those advertisements.” (37:40)

Lessons Learned

• Know Who You’re Trusting

  • The biggest lesson, Jacob says, is to rigorously appraise the character of founders and teams—not just the product pitch:

    “If I would have checked the character of those three individuals...I probably could have saved myself a lot of trouble.” (40:14)

• On Due Diligence and Growth

  • Acknowledges that lost money was minimal compared to others’ pain, and that mistakes in youth can be constructive if they don’t cause lasting harm.

    “Try to make as many mistakes as you can, but that aren’t going to have lasting impacts later on into your life.” (40:56)

Final Takeaway

Jacob’s closing message:

“There are people out there that don’t have your best interest in mind and... you should be trying your best to make sure that you don’t get screwed over... Maybe you can catch them in the act and then take them to court and save the day. Hopefully.” (42:28)

Notable Quotes & Memorable Moments

• On Emotional Investment:

  “When you put all your money into something, you become very invested in the emotional aspect of that. I was certainly emotionally tied to my money at that point.” (21:59)

• On Red Flags:

  “The Bancorp sponsorship was removed from their white paper...and I started asking questions inside of the Slack Channel, and they did not like that.” (21:39)

• On Attempted Quieting by Founders:

  “Sam Sharma actually reached out and I think he offered me about...25 grand at the time in Centra Tokens, which later we found out that this is a tactic that they were using on other people as well.” (24:54)

• On Perseverance and Justice:

  “I was obsessed with taking these guys down. They had angered me so much that I was looking at taking them down as much as I could.” (26:37)

• On What He’d Tell Investors Now:

  “Try to understand as much as you possibly can about the founders...If it’s a small group, something that’s emergent, I think that character of those individuals is pretty important.” (41:31)

Timestamps for Key Segments

| Time | Segment / Topic | |--------------|----------------------------------------------------------------------------| | 04:17 | Jacob introduced; background, why he invested | | 09:54 | Features and promises of Centra Tech, and early investment | | 15:10 | Peak value, personal emotions, and involvement of friends | | 18:06 | Shift from optimism to doubt; Cliff High’s revealing interview | | 21:39 | Red flags: removal of partner logos, being banned for asking questions | | 24:54 | Attempted bribery by Sam Sharma | | 26:37 | Jacob’s transition from investor to whistleblower and plaintiff | | 29:11 | Hearing impact stories from other victims | | 33:10 | The mechanics of the fraud: fake tech, fake backers, fake endorsements | | 35:45 | Legal outcomes, unrecovered funds, and enduring questions | | 38:03 | Reflections on justice and sentencing | | 40:14 | Lessons learned; advice for evaluating investments and founders | | 42:28 | Jacob’s final message; why he speaks out |

Conclusion

This episode provides a clear-eyed, first-hand account of how one person’s financial ambition turned him into both a victim and a crusader. By unmasking Centra Tech’s con, Jacob Rensel not only salvaged much of his own investment, but also helped expose a multi-million-dollar fraud—and delivered crucial lessons for future investors navigating the risky waters of cryptocurrency and hype-fueled finance.