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Former Bloomfield cryptocurrency CEO hit with $9.9M judgment
Joshua Garza
A Connecticut federal judge has approved a $9.9 million civil judgment against the head of a former Bloomfield cryptocurrency business that defrauded customers out of millions of dollars.
U.S. District Court Judge Jeffrey A. Meyer approved the judgment on Wednesday against Joshua H. Garza, former CEO of the now defunct Gaw Miners, which was based in Bloomfield.
The judgment follows Garza’s guilty plea to one count of wire fraud in a criminal case against him. He was found guilty of bilking investors out of $9.2 million as part of a scheme to attract investors for a virtual currency called Paycoin between May 2014 and Jan. 2016.
He will be sentenced next year and faces up to 20 years in prison.
Gaw and a related company, ZenMiner, were each ordered in May to pay $11.4 million.
Read more
Bitcoin’s growing popularity stirs new business, wary regulators
Bloomfield virtual currency firm under SEC investigation
Legal woes ensnarl Bloomfield cryptocurrency operator
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This special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
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Subscribe
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
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2023 Book of Lists
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
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