Labeling what is going on a "scam" is sugarcoating this whole criminal operation. Calling something a "scam" brings to mind something that might be technically dishonest, but not quite criminal, like a carnival game that is rigged so that you can not actually win the teddy bear. That is not at all what is going on here. Here is the legal definition of fraud, with 5 caveats, all of which have been met:
Fraud must be proved by showing that the defendant's actions involved five separate elements:
(1) A false statement of a material fact. Check: Mr. Ganza repeatedly promised a $20 minimum price for XPY, supported with $100,000,000 cash "CAF" fund.
(2) Knowledge on the part of the defendant that the statement is untrue. Check: The $100,000,000 CAF fund did not exist, therefore the statements that it would be used to support a $20 price for XPY were known to be brazen lies on his part.
(3) Intent on the part of the defendant to deceive the alleged victim. Check: Repeatedly announcing caveat #1, knowing full well it was a giant pack of lies.
(4) Justifiable reliance by the alleged victim on the statement. Check: Investors put in their money based on the confidence on the aforementioned promise of a high return.
(5) Injury to the alleged victim as a result. Check: All of the initial investors in XPY are down massive amounts.
This meets all of the criteria of being a fraud operation, bilking investors out of millions of dollars, not some silly "scam", cheating people out of a stuffed teddy bear in a carnival game. If , when, and where this pack of criminals is prosecuted for fraud remains to be seen, but the evidence of what is going on is in plain sight for all that wish to take a look. There are many more aspects to this operation (embezzlement and tax evasion are quite likely), but this is the clearest and easiest to prove using GAWCEO's own statements and refusal to provide proof of the $100 million fund that was used to con people into investing. This is all my personal opinion, of course. I encourage everyone to look at the available evidence and form their own conclusions. Especially you fucking idiots that are still handing Mr. Ganza money.
Link to archive made moments ago of Paycoin.com where it still brazenly states that they have this large "CAF" : https://archive.today/6ZMFc