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BitBrum • November 19, 2017

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Tag: ponzi

Ponzi Schemes GAW Miners and ZenMiner Fined $10 Million Each

Category: Bitcoin, News, Regulation

Ponzi Schemes GAW Miners and ZenMiner Fined $10 Million Each

Connecticut-based companies, GAW Miners and ZenMiner, have been ordered by the U.S. District Court for the District of Connecticut to pay $10 million each as fines for their fraudulent activities. The two companies were fronted by Homero Joshua Garza but ceased their operations when accusations leveled against them reached a crescendo. Both GAW Miners and ZenMiner operated as bitcoin cloud…

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GAW Miners’ Josh Garza Pleads Guilty to Fraud, Settles a Deal

Category: Bitcoin, Commentary, News, Regulation

GAW Miners’ Josh Garza Pleads Guilty to Fraud, Settles a Deal

At last, Josh Garza, the founder of the PayCoin Ponzi scheme and CEO of GAW Miners pleaded guilty to wire fraud following an official complaint by the SEC filed in 2015. The US Department of Justice’s letter read: “We are currently negotiating an agreement with defendant Homero Joshua Garza to enter a plea of guilty to one count of wire…

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