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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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(Score: 3, Interesting) by Runaway1956 on Sunday September 16 2018, @11:23PM
Well, let's just try to pretend that the Federal Reserve isn't a scam to begin with. If we were to suppose that bankers weren't thieves by definition, then WTF did we bail them out when they crashed? I mean - we agreed for a moment that they weren't thieves by definition, right? But, they still managed to steal billions in bailout money - and to appropriate huge parts of that for "bonuses" for the crookedest among them.
Every bank in danger of failing should have been allowed to fail. Every single one of them.
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