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A man who, according to federal authorities, ran a fake cryptocurrency Ponzi scheme and pleaded guilty last year to one count of wire fraud is now headed to prison.
On Thursday, Homero Joshua Garza, also known as Josh Garza, has now been sentenced by a federal judge in Hartford, Connecticut, to 21 months in prison, three years of supervised release, and more than $9 million in restitution. The news was first reported Thursday by CoinDesk.
In their sentencing memorandum filed before the hearing, prosecutors were blunt in their assessment of Garza, saying that he "lied to investors and customers and took their money" to the tune of $9 million in losses spread across thousands of people worldwide.
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Fake-Cryptocurrency Ponzi Scheme Lands Creator in Prison
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It is not enough to have a good mind. The main thing is to use it well.
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(Score: 4, Interesting) by PartTimeZombie on Sunday September 16 2018, @09:12PM
If my sister gets a speed camera ticket, she always writes back to say she intends pleading not guilty, and could they please send her the maintenance records for the camera they used so that she can pass it on to her lawyer.
100% of the time they withdraw the charge.
Not in the US, so that might not be of any use to you, but it is interesting.