THELOGICALINDIAN - Josh Garza Founder and CEO of the abominable GAW Miners has been ordered to pay about 10 actor to the SEC
Josh Garza, CEO of GAW, GAW Miners, ZenMiner, and ZenCloud plead guilty to a $9 actor artifice arrangement back in July of this year. Pleading accusable to one calculation of wire artifice accompanying to his role in his companies’ declared bearing and auction of basic currency, Garza has now been ordered to pay about $10 million, consisting of $9.1 million, additional $700,000 in interest.
The civil complaint, which was first brought by the Securities and Exchange Commission in December 2015, alleged that Garza and his companies awash added than 10,000 “investment affairs apery shares in the profits they claimed would be generated from application their declared accretion ability to ‘mine’ for basic currency.” Gaza has additionally accepted that he ran an actionable pyramid scheme.
GAW Miners were aboriginal alien in 2014 as a aggregation reselling ASIC powered mining rigs for mining Bitcoin. The aggregation after angry to focus on billow mining, renting out assortment ability after concrete equipment, although they did additionally absolution a cheaper concrete miner alleged a Hashlet, priced at aloof $9.95 which Bitcoinist looked at back in 2014. In 2015 the aggregation alien their own cryptocurrency, Paycoin. GAW additionally adapted into cloud-based wallet casework with Paybase and they had their own online altercation lath accepted as HashTalk.
In a 2015 interview, Garza told Ars Technica that he aboriginal started Gaw Miners as a acknowledgment to scammers in the crypto mining sphere, of which he claimed to accept alone collapsed abhorrent of to the tune of $100,000.
Garza is due to be bedevilled in the bent case on January 5, 2024, at 10:00 am in Hartford, Connecticut, afore US District Judge Robert N. Chatigny.
Were you a victim of Garza’s? Have you been compensated for your losses? Let us apperceive in the comments below.
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