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...

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