Federal agents have arrested the co-founders of an initial coin offering that was promoted by boxer Floyd Mayweather and music producer DJ Khaled.

Robert Farkas and Sam Sharma, co-founders of Centra Tech, were arrested and charged with securities fraud and wire fraud in connection with $32 million the pair raised for an initial coin offering.

Farkas was arrested as he planned to board a plane going out of the US, authorities said.

At the same time, the pair were hit with civil charges from the Securities and Exchange Commission. The regulator charged the pair with not registering their ICO.

Sharma and Farkas masterminded a scheme to offer a debit card backed by Visa and MasterCard that would allow users to easily convert crypto-assets into US dollars or other currencies — but it was all a “web of lies,” said Stephanie Avakian, co-director of the SEC’s Division of Enforcement.

There was no connection with the credit card companies, the SEC said.

To help promote the ICO, Sharma and Farkas paid celebrities, including Mayweather and Khaled. Both appeared in ads for the coin.

The SEC has been cracking down on ICOs based on crypto-assets like bitcoin that have raised over $6 billion.