A former cryptocurrency entrepreneur will spend time behind the bars of a Federal prison after pleading guilty to defrauding customers of $9.2 million.
According to court documents, Hartford Federal Court sentenced Homera Joshua Garza, 33, the former CEO of a now-defunct GAW Miners mining company, to a statutory minimum of 21 months in a federal corrections facility.
Joshua Garza pleaded guilty in April 2017 to one felony count of wire fraud related to the sale of cryptocurrency called PayCoin.
The outcome of the GAW Miners case comes after a long legal battle that began in 2014 after the company started selling more mining power than it formerly possessed.
The US Justice Department had featured PayCoin in its lawsuit against Garza and his associated companies which included GAW, GAW Miners, ZenMiner, and ZenCloud.