The securities and exchange commission(SEC) has prosecuted Carlos Garza,the former employer of Bitcoin mining company “GAW Miners”.
It is reported that Carlos Garza has refused the subpoena of SEC.Now SEC is investigating whether the company GAW Miners violated the Securities Law by selling its mining products and cryptocurrency paycoin.
Meanwhile,SEC is also investigating if the company is running a Ponzi scheme.
According to the files,Carlos Garza is the brother of the CEO of the company,who is suspected the key personal selling mining products and paycoin.So far Carlos Garza refused to answer any questions.
The court record indicates that Garza told SEC that he didn’t understand what Securities Law is,and he was afraid of replying the query without his lawyer.
The journalist asked the CEO Josh Garza to review but has not received any reply.
It is said that the company stopped its mining service suddenly earlier this year,and the price of paycoin they sold has fallen to 0.025 cent.
In addition,GAW has involved in multiple civil judicatures.
It is worth nothing that the SEC suspected that the company has sold fake hash rate.
According to anther related news,GAW is also investigating by the supervisor of its state.