A court has issued a default ruling in favor of the Mississippi Power Company (MPC) in its lawsuit against defunct GAW Miners.
One year ago, GAW, led by CEO Josh Garza, burst onto the crypto scene with a series of major announcements, including very cheap miners (Hashlets) and multimillion dollar acquisitions (BTC.com) and mergers (ZenMiner). The company dubbed itself as GAW (“Geniuses at Work”), coincidentally the same abbreviation as Garza’s other venture, Great Auk Wireless.
Amid a flurry of fraud allegations from the crypto community, the operation seemingly scrapped its entire mining operation after a few months, claiming to transition to the world of payments. It was promised that PayBase had forged strategic partnerships with retailers like Walmart and Amazon. Paycoin, “the people’s money”, would be accepted by these retailers, and was guaranteed a price floor of $20 (it currently trades at $0.028).
The Rising Star of the DeFi Project, GIBXSwap, Passes CertiK Security AuditGo to article >>
Per Finance Magnates predictions, the operation collapsed earlier this year. GAW is being sued by two former customers in Connecticut, as well as MPC for unpaid electricity bills. The company and Garza have been a no-show in both cases.
The United States District Court for the Southern District of Mississippi, Eastern Division has now issued a Judgement by Default against GAW, obligating the company to pay $346,647.29 plus interest and court fees. MPC will be taking action to collect what it is owed.
Nothing has been heard from Garza in months. There have been unconfirmed rumors of the Securities and Exchange Commission investigating Garza, as well as reports that he sold his home in Massachusetts and that he fled the US.
According to his LinkedIn profile, he is no longer CEO of GAW High-Speed Internet (2004-2012). Instead, he is CEO of Voice Prodigy (2012-Present), as well as Vice Chairman of Smart Tech (2012-Present). There is no mention of activity at GAW Miners.