June 05, 2017

SEC v. Homero Joshua Garza, GAW Miners, LLC, and ZenMiner, LLC

Offering Fraud

SANCTION AMOUNT: $12,384,099

Defendants: GAW Miners, LLC and ZenMiner, LLC
Homero Joshua Garza

Judgment by default against two bitcoin mining companies for $10 million Ponzi scheme. The court found that liability was established. The SEC alleged that defendants did not own enough computing power for the mining they promised to conduct, and paid returns to some investors from proceeds generated from other investors. Case still pending against principal of the companies, defendant Garza, at the time of writing of this summary.

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