GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :)

[suchmoon]

waiting for the official statement of badbitclown denying the charges

According to MrCoins the SEC has finally started the approval process. Paycoin will be officially legit any day now.

https://twitter.com/cryptodabbler/status/581066951583248384

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[suchmoon]

This is getting serious. Garza is DISAPPOINTED. Not quite clear if he's scared though.

http://www.reuters.com/article/2015/12/01/bitcoin-sec-idUSL3N13Q58W20151201

Garza is disappointed that the SEC has filed suit against him, said his lawyer, Marjorie Peerce in New York. Any further comments will be through the court process, Peerce said.

Edit: The lawyer seems to be out of Garza's league... so I'd like to mention Cantor Fitzgerald once more just to make sure Google does the right thing.

http://www.ballardspahr.com/people/attorneys/peerce-marjorie.aspx

[favdesu]

This is getting serious. Garza is DISAPPOINTED. Not quite clear if he's scared though.

http://www.reuters.com/article/2015/12/01/bitcoin-sec-idUSL3N13Q58W20151201

Garza is disappointed that the SEC has filed suit against him, said his lawyer, Marjorie Peerce in New York. Any further comments will be through the court process, Peerce said.

it's fine, he'll handle this Mr. Garza.

can't wait for "I'm too scared to answer" phrases in court.

[Paul Revere]

One year ago today: http://blogs.wsj.com/moneybeat/2014/12/01/bitbeat-under-fire-gaw-miners-ceo-garza-takes-on-his-critics/
https://archive.is/BzQ1P





"Why would a guy that already has a ton of money, and would get thrown in jail if he was involved in anything sketchy, be involved in a scam?"

You tell us, Josh. Why?

Mr. Garza said GAW follows meticulous compliance and record-keeping to ensure it can’t be charged by the Securities and Exchange Commission with selling unregistered securities. “If one cent of our payout (to customers) comes from anything other than mining, it is a security,”

HA! $19 Million is not one cent!! Hoin! Eat that, SEC!  

P.S: Your ace shill job did not placate the highly vocal critics, Michael.

[SDRebel]

...

I think I said it before, but once again, thanks for opening my eyes early on

[o0o0]

Where is samiam666 now to say its fud and the gubernment merits no response cause Josh is innocent?

[Xian01]

Where is samiam666 now to say its fud and the gubernment merits no response cause Josh is innocent?

Probably off being very scared somewhere.

[RoomBot]

http://www.sec.gov/news/pressrelease/2015-271.html

The SEC’s investigation was conducted by Gretchen Lundgren,

good job, I remember her name, some of you helped her!

YUP!!   

She sent me the good news today.

[peonminer]

PDF attachment

UNITED STATES DISTRICT COURT
DISTRICT OF CONNECTICUT
___________________________________________
)
SECURITIES AND EXCHANGE COMMISSION, )
)
Plaintiff, )
)
v. ) Case No.
)
HOMERO JOSHUA GARZA, )
GAW MINERS, LLC, and )
ZENMINER, LLC (d/b/a ZEN CLOUD), ) JURY TRIAL DEMANDED
)
Defendants. )
___________________________________________ )
COMPLAINT
Plaintiff United States Securities and Exchange Commission (“the Commission”) alleges
the following against Defendants Homero Joshua Garza (“Garza”), GAW Miners, LLC (“GAW
Miners”), and ZenMiner, LLC (d/b/a ZenCloud) (“ZenMiner”), and hereby demands a jury trial:

[suchmoon]

Oh look what we have here:

http://blogs.wsj.com/moneybeat/2015/12/01/josh-garza-gaw-miner-charged-by-sec-in-ponzi-scheme/

Should we let our beloved WSJ bloggers know how much we appreciate their unbiased reporting?

[I_IZ_CEO]

Some interesting tidbits:

33.... Garza participated in an interview with a reporter for Cryptocoinsnews.com, during which he convinced a family member of a GAW Miners’ investor to pretend that ZenMiner was that person’s company and idea.

Is this about Stu's son?

Edit: yep https://www.cryptocoinsnews.com/groundbreaking-deal-gawminers-zenminer-will-revolutionize-mining/

I spoke on the phone with Thomas Fraser of Zenminer

49. By October 2014, GAW Miners had oversold Hashlets to an even more extreme degree. It had oversold altcoin mining Hashlets by at least about 100 times its computing capacity, and bitcoin mining Hashlets by at least about 5 times its computing capacity.

51. Throughout the time that Hashlets were sold, from mid-August 2014 through December 2014, GAW Miners and ZenMiner sold at least $19 million of Hashlets, to more than 10,000 investors.

68... In September and October 2014 alone, GAW Miners, at Garza’s direction, converted over $1.5 million in cash to bitcoin to make mining payouts and thus perpetuate their fraud.

91. Hashlets constitute investment contracts, and thus “securities” under Section 2(a)(1) [15 U.S.C. §77b(1)] of the Securities Act.

92. No registration statement was filed with respect to the Hashlets sold by defendants, and no exemption from registration was availablefor these securities.

I wish I could remember who was the first person to bring the hashlets == unregistered securities allegation up in this thread. It only took a year but the US Gov finally agrees

KC6TTR did

[Paul Revere]

Oh look what we have here:

http://blogs.wsj.com/moneybeat/2015/12/01/josh-garza-gaw-miner-charged-by-sec-in-ponzi-scheme/

Should we let our beloved WSJ bloggers know how much we appreciate their unbiased reporting?

WSJ conveniently already dispensed with Michael Casey. I think it would have been fitting to have the same guy who shilled GAW/Garza writing about the charges exactly one year later.

[peonminer]

Who's ready to buy some XPY? Remember, with Paycoin, you will ALWAYS make money!

Their miners never become obsolete, because they don't exist!

Breaking report!

GARZA APOLOGIZES TO SEC AND PROMISES TO GIVE EVERYONE $20 A PAYCOIN
SEC DROPS ALL CHARGES AND PURCHASES 1,000,000 XPY FROM CRYPTSY




















LOL

[truckinusa]

Oh look what we have here:

http://blogs.wsj.com/moneybeat/2015/12/01/josh-garza-gaw-miner-charged-by-sec-in-ponzi-scheme/

Should we let our beloved WSJ bloggers know how much we appreciate their unbiased reporting?

OMG, can't believe they are back one year later with no apology or anything.  What a bunch of assholes.

Looks like KC6TTR is the first unregistered securities complaint.

[RoomBot]

Funny @peonminer.

Note:  Garza hasn't apologized.  

(Who thinks he ever will,and for what?)

He's "disappointed."

Like maybe how WE ALL FELT when we learned there was a 97% XPY PREMINE??

[truckinusa]

Funny @peonminer.

Note:  Garza hasn't apologized.  

(Who thinks he ever will,and for what?)

He's "disappointed."

Like maybe how WE ALL FELT when we learned there was a 97% XPY PREMINE??

Yeah, I'm not a lawyer or anything, but you would think a case could be made that they legitimized the fraud and therefore were a part of it.

[vodaljepa]

It's nice to see the scam finally being busted

[Shinta_dekay1911]

Dekay will be standing on call like scarface as soon as Josh goes to jail and who ever else there will be someone waiting for him don't worrie Josh I got u if u don't make it out of jail alive remember how those felt u scammed

[not.you]

I seriously hope there's some jail time in the future for Josh at a minimum but there are some others who are clearly deserving also.  I don't know if the FTC does jail time penalties though so maybe we have to wait for the IRS?

[Unacceptable]

Here's another "story" 

http://247wallst.com/investing/2015/12/01/sec-charges-bitcoin-mining-firm-in-ponzi-scheme/

Bout time!!!