Mining company CEO sentenced to 21 months in prison for Ponzi scheme
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According to Coindesk, Josh Garza, CEO of the defunct cryptocurrency mining company GAW Miners, was sentenced to 21 months in prison after pleading guilty to wire fraud charges. Garza was also sentenced to six months of home confinement after his release as part of a three-year probation. It is reported that GAW was accused of operating as a Ponzi scheme by selling more cryptocurrency mining processing power than the company actually had for a year starting in 2014. |
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