SEC Seeks $10 Million Default Judgment Against GAW Miners
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....
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A Mississippi court has ruled in favor of a state electric utility in its case against defunct cryptocurrency mining company GAW Miners. Mississippi Power Company (MPC) filed suit in April, alleging breach of contract after GAW Miners failed to pay for months of electrical provision as well as infrastructure installation. The utility initially sought $346,647.29 plus interest and court fees. In a 10th August court order, US District Judge Keith Starrett granted MPC's request for default judgment. MPC is being represented by local law firm Balch & Bingham. Starrett wrote: "Plaintiff,....
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This report has been updated with comment from Mississippi Power Company. A utility firm in Mississippi is seeking a default judgment against cryptocurrency mining company GAW Miners months after filing suit for breach of contract. Mississippi Power Company (MPC) said in a 17th April filing submitted to the US District Court of Southern Mississippi that it was entitled to a default judgment in its favor owing to a lack of response from GAW. MPC is seeking $346,647.29 in damages plus interest. MPC began offering services to GAW in October of last year, providing electricity to its....
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The US Securities and Exchange Commission (SEC) has filed a motion for entry of default in its ongoing case against the now-defunct cryptocurrency startup GAW Miners. The filing alleges GAW Miners and ZenMiner, two firms mentioned in the SEC’s suit filed last month, have failed to respond to an official complaint. Notably, the filing does not mention CEO Josh Garza, who was charged with securities fraud tied to the issuance of the firm's Hashlet mining contracts and the operation of a Ponzi scheme after a months-long investigation ended in December. The SEC's case against GAW came months....