The Securities as well as Exchange Commission (SEC) is seeking 10 1000000 from the imploded Ponzi-Garza inwards connector amongst its securities fraud suit.
This coming afterward it filed a lawsuit piece of cake final twelvemonth as well as interrogation Josh Garza's blood brother inwards an motility to gain to a greater extent than cognition of the facts.
Paging Ponzi-Garza.... ???
Josh Garza has been amazingly still through this entire ordeal. H5N1 homo who was impossible to near upward at i signal as well as good known for ridiculously long as well as drawn out explanations as well as banter through out the community, hasn't said a discussion throughout this entire crash-and-burn.
He hasn't shown upward to courtroom either, inwards 2015 when Mississippi Power Company (MPC) sued Garza as well as GAW for $350,000 owed for services, he (they) allowed the instance to autumn into a default judgement.
Looks similar the SEC took bill as well as is trying the same.
Default Judgement
H5N1 default sentence is sort of similar the legal basis equivalent of rape. When a accused doesn't bother to exhibit upward to courtroom proceedings as well as introduce a defense, they are essentially bent over backward as well as have a ruling mostly inwards favor of the plaintiff. Typically these judgement's are as well as thence lopsided that fifty-fifty a start twelvemonth populace defender could accept gotten a ameliorate settlement.
What's worse is that in i trial on record, it clears the pathway for farther lawsuits that accept the powerfulness to role the ruling equally prove of incorrect doing inwards other cases.
Garza mightiness desire to instruct his donkey into courtroom earlier they start unloading criminal charges against him. With this stacking upward the way it is, its real possible that is correct some the corner.
All rather foreign considering Garza does accept an attorney. Maybe his nib hasn't been paid either?
Blood From a Stone
This mightiness also opened upward some doors for others to file suit, however, the term you lot can't depict blood from a rock comes to mind. If Garza had whatever money, the society wouldn't accept gone downwardly inwards the vogue it did, unless he embezzled funds inwards some manner. If you lot retrieve GAW went on a selling spree of its mining inventory as well as depleted it rather rapidly at ridiculously depression prices. May that was business office of this entire affair as well as it was all actually only an elaborate exit scam.
It's possible, but skillful luck trying to run. One affair is certain, non paying your lite nib is i thing. Tangling amongst the SEC is another. The shame is understandable, who would desire to exhibit their confront inwards populace in i trial again afterward becoming the joke of the industry? The humiliation has got to survive eating at whatever tidbit of ego left if that pea encephalon of his.
You would mean value non going to jail or having a federal means afterward every penny you lot accept would survive a chip to a greater extent than of import than his ego on this one. Apparently non the case.
I'm sure enough this is going to instruct ugly. Uglier than it already is, that is.
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