Buyer of for $1million Charged with Operating a Ponzi Scheme

Back in August of 2014 there was a big buzz around the sale of for $1million. Domain Guardians brokered the sale and Mike Robertson gave an interview to on how the sale went down.

Today the buyer Josh Garza has been charged with fraud by the Securities and Exchange Commission.

CoinDesk reported:

The US Securities and Exchange Commission has charged former GAW Miners CEO Josh Garza with the fraudulent sale of unlicensed securities and the operation of a Ponzi scheme.
The complaint, filed today in the US District Court for the District of Connecticut, focuses largely on the sale of Hashlets, the “virtual miners” sold by GAW Miners through its cloud mining site, ZenCloud.
The SEC said that Garza and GAW earned roughly $19 million in revenue from the scheme, which evolved from hardware hosting to cloud mining to the eventual launch of an alternative cryptocurrency and has as many as 10,000 customers and investors.
According to the SEC, Garza and GAW Miners knowingly misrepresented the nature of Hashlets, their proclaimed profitability and the manner in which mining income was sourced.

The domain was registered in 1997 has been under privacy at Go Daddy for years. The site is developed but the about us talks about Bitmain Technologies LTD.

Tech Crunch did an interview with Garza on the purchase of last year.

Raymond Hackney

Raymond Hackney

Raymond Hackney is a writer and domain investor/consultant from Philadelphia. Raymond is the founder of and