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Articles related to "scheme"

GAW Miners Chief Gets 21-Month Prison Term for Defrauding $9.2 Million

  • 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.

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