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Ex-ceo, 33, Fined $9 Million, Sentenced To Prison For Digital Currency Ponzi Scheme
The former CEO of a virtual currency company is heading to prison and must pay more than $9 million in restitution for his role in his companies’ purported generation and sale of virtual currency that devolved into a Ponzi Scheme.
Josh Garza, 33, formerly of Somers, Connecticut, was sentenced in Hartford District Court to a term of 21 months in prison, followed by three years of supervised release, the first six months of which he will have to spend in home confinement for his role in the multi-million dollar scheme.
According to court documents and statements made in court, “virtual curren…
