Four investors in GAW Miners have sued Stuart A. Fraser for his role at the defunct crypto business, following a guilty plea of wire fraud by his longtime partner, Josh Garza.
In a complaint first filed in the U.S. District Court for Connecticut last year, the plaintiffs accused Fraser, GAW Miners and ZenMiner of violating federal and state securities laws.
Fraser, the vice chairman of Wall Street firm Cantor Fitzgerald, subsequently filed a motion to dismiss all the allegations, which the court denied, according to a ruling dated on Oct 11.
The plaintiffs, Denis Marc Audet, Michael Pfeiffer, Dean Allen Shinners and Jason Vargas, stated in the complaint that Fraser had a “deep involvement with Garza and GAW Miners.”
This relationship assisted Garza when he made a series of false statements to prospective customers and investors, such as GAW Miners’ “phony” acquisition of ZenMiner, the complaint says…
Read Full: Wall Street Exec Sued for Role in Fraudulent Cryptocurrency Scheme
