The financial regulator of the USA has won the legal claim for $11 million against two "mayningovykh" of firms
The U.S. Securities and Exchange Commission (SEC) has carried the first lawsuit against the mayningovykh of the GAW Miners and Zen Miner companies, Coindesk reports.
According to judicial documents, both of them have to return illegally got profit for $10,078,331, and also pay $305,768 in the form of percent for the period before adjudication. In addition GAW Miners and Zen Miner have to pay $1 million everyone in the form of civil collecting.
The decision has been made by district court of Connecticut and became end of the first part of legal fight of SEC against the head of both companies Josh Garzy.
Charges of fraud to GAW Miners and ZenMiner have been put forward at the end of 2015. As it was approved which, working under a sign of the companies which were engaged in a mining of bitcoins they actually were usual financial pyramids.
The same person — Omero Joshua Garza was the owner of both companies. It is supposed that during the period from August to December, 2014 through the ZenCloud platform he has earned about $19 million on sale of "stocks". As a result of roguish activity more than 10 thousand investors have suffered – they got so-called "heshleta", alternative cryptocurrency which as it was promised, "will be always profitable".
It is remarkable that the current judgment doesn't affect Garza – legal proceedings concerning him still continue.
it is taken from here http://forklog.com/finregulyator-ssha-vyigral-sudebnyj-isk-na-11-mln-protiv-dvuh-majningovyh-firm/
This amazing
This is just the beginning. I wonder how many more lawsuits will happen and when the litigation would ever end. Lots of other forms of this are more difficult to enforce and prosecute in a case. I can imagine maybe a few other top10 marketcap cryptos could be justified in potential future cases.
I think this is some bot spewing out Google Translate rubbish and copying tags usually found in Gridcoin related articles. Person behind this is most likely after those hefty rewards we've been receiving from fuzzy. Steem has become quite valuable, so we're probably going to see more of this.