GAW Miners CEO, Creator of PayCoin Scam, Gets 2 Years in Jail

Homero Joshua Garza admitted guilt in the court after he was charged with making and trading the scam titled PayCoin (XPY). The initial 20-year sentence has been changed

Fri, 14/09/2018 - 8:59

GAW Miners CEO, Creator of PayCoin Scam, Gets 2 Years in Jail

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Homero Joshua Garza admitted guilt in the court after he was charged with making and trading the scam titled PayCoin (XPY).

The initial 20-year sentence has been changed for just nearly two years of imprisonment– from 2019 to 2021. However, he will be supervised outside the prison for three years after release and get a half-a-year detention at home.

Apart from doing his time in prison, Garza is obliged to pay $9.2 mln in compensation to investors who suffered from this scam.

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Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.