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Cryptoassets & Blockchain Legal News

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United States

SEC vs GAW ends with 9.8 Million USD liability

October 4, 2017 by Beatrice OZANNE

Less than two years after the Securities and Exchange Commission (SEC) filed suit against Homero Josh Garza, the CEO of GAW Miners (now defunct), accusing him of violating securities laws, the final judgment has been signed by a US federal judge.

The ruling holds Garza liable for 9,182,000 USD and comes after the SEC won a default judgment against GAW Miners for $11 million in civil penalties and disgorged profits.

In a separate criminal case from the US Justice Department, Garza pleaded guilty to a single wire fraud charge.

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