SEC Seeks $10 Million In Judgment Against Garza And Companies For Fraudulent Investment Scheme
The Securities and Exchange Commission (SEC) has sought judgments against Homero Joshua Garza, GAW Miners and ZenMiner, LLC, claiming they engaged in selling fraudulent investments in virtual currency mining operations. The motion filed in the U.S. District Court District of Connecticut claims the defendants did not have the computing power needed to generate the profits they promised to investors. In addition, the investment contracts were not registered with the SEC as required. The SEC ordered the defendants to pay $10,384,099 in disgorgement plus prejudgment interest, along with civil....
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The Securities and Exchange Commission (SEC) is seeking more than $10m from the cryptocurrency mining firms GAW Miners and ZenMiner in connection with its ongoing securities fraud suit. The agency filed suit against the firms and former CEO Homero Josh Garza in December. The SEC sought a motion for entry of default against the firms last month. Garza and the firms are accused of defrauding investors, and operating a Ponzi scheme in connection with its now-defunct mining service by selling more mining power than it actually possessed. The SEC argued in its motion for default judgment, filed....
This article has been updated with comment from Josh Garza's lawyer, Marjorie Peerce. The US Securities and Exchange Commission has charged former GAW Miners CEO Josh Garza with the fraudulent sale of unlicensed securities and the operation of a Ponzi scheme. The complaint, filed today in the US District Court for the District of Connecticut, focuses largely on the sale of Hashlets, the "virtual miners" sold by GAW Miners through its cloud mining site, ZenCloud. The SEC said that Garza and GAW earned roughly $19 million in revenue from the scheme, which evolved from hardware hosting to....
The SEC is seeking a default judgment against three companies and four individuals for their roles in an allegedly fraudulent ICO that duped $9 million from 500 investors. The U.S. Securities and Exchange Commission has requested a default judgment against three companies and four individuals associated with the allegedly fraudulent art and gold-backed cryptocurrency Meta 1 Coin.The SEC filed its Nov. 18 motion for a default judgment after the defendants failed to appear to put their case, despite having corresponded with both the court and legal representation. The defendants are Meta 1....
This week, CoinFire reported that the US Securities and Exchange Commission (SEC), the Internal Revenue Service, FinCEN, Department of Homeland Security, and other government agencies have officially launched multiple investigations into Cryptsy International LTD, a Belize-based bitcoin exchange headquartered in the US and Canada. Cryptsy allegedly engaged in fraudulent operations with GAW Miners, a defunct exchange founded and operated by Josh Garza, the creator of a multi-million dollar cryptocurrency investment scam PayCoin. Government agencies and law enforcements including the SEC....
WASHINGTON D.C. — Homero Joshua Garza was brought up on civil charges for the alleged operation of a “Ponzi Scheme” by the U.S. Securities and Exchange Commission (SEC). Garza and associated companies GAW Miners and ZenMiner, are being tried in court for selling $20 million USD worth of a cloud mined product called “hashlets.” The SEC alleges that Garza....