Class Fights To Keep Cert. In Crypto 'Miners' Ponzi Case

Law360 (January 23, 2020, 5:06 PM EST) -- A class of purported victims of a cryptocurrency mining Ponzi scheme asked a Connecticut federal judge on Wednesday not to take away its certification at the behest of a crypto investor facing secondary liability claims over the scheme.

Stuart Fraser, a self-described minority investor in GAW Miners LLC and ZenMiner LLC, has long pushed back on the notion that certification is proper for customers who purchased virtual currency "miners" from the two companies as part of a $9 million Ponzi scheme by the companies' founder.

The purchasers received class certification in June, but Fraser said in December that post-certification discovery has...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!