http://247wallst.com/investing/2015/12/01/sec-charges-bitcoin-mining-firm-in-ponzi-scheme/
Bout time!!!
Topic: GAW / Josh Garza discussion Paycoin XPY xpy.io ION ionomy. ALWAYS MAKE MONEY :) - page 286. (Read 3377922 times)
December 01, 2015, 06:53:35 PM
Here's another "story"
http://247wallst.com/investing/2015/12/01/sec-charges-bitcoin-mining-firm-in-ponzi-scheme/
Bout time!!!
http://247wallst.com/investing/2015/12/01/sec-charges-bitcoin-mining-firm-in-ponzi-scheme/
Bout time!!!
December 01, 2015, 06:37:59 PM
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?
December 01, 2015, 06:30:03 PM
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
December 01, 2015, 06:13:02 PM
It's nice to see the scam finally being busted
December 01, 2015, 06:09:10 PM
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?
?
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.
December 01, 2015, 06:06:26 PM
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??
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?
? December 01, 2015, 06:04:43 PM
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.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?
Looks like KC6TTR is the first unregistered securities complaint.
December 01, 2015, 05:53:37 PM
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
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
December 01, 2015, 05:51:48 PM
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?
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.
December 01, 2015, 05:46:19 PM
Some interesting tidbits:
Edit: yep https://www.cryptocoinsnews.com/groundbreaking-deal-gawminers-zenminer-will-revolutionize-mining/
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
Quote
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/
Quote
I spoke on the phone with Thomas Fraser of Zenminer
Quote
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.
Quote
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.
Quote
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.
Quote
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.
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
December 01, 2015, 05:38:29 PM
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?
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?
December 01, 2015, 05:34:51 PM
December 01, 2015, 05:27:02 PM
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.
December 01, 2015, 05:20:39 PM
Where is samiam666 now to say its fud and the gubernment merits no response cause Josh is innocent?
Probably off being very scared somewhere.
December 01, 2015, 05:14:02 PM
Where is samiam666 now to say its fud and the gubernment merits no response cause Josh is innocent?
December 01, 2015, 05:08:40 PM
...
I think I said it before, but once again, thanks for opening my eyes early on December 01, 2015, 05:06:57 PM
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.
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.
December 01, 2015, 04:44:06 PM
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
http://www.reuters.com/article/2015/12/01/bitcoin-sec-idUSL3N13Q58W20151201
Quote
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.
December 01, 2015, 04:41:04 PM
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
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
http://www.reuters.com/article/2015/12/01/bitcoin-sec-idUSL3N13Q58W20151201
Quote
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
December 01, 2015, 03:51:56 PM
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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