Josh Garza's Sentencing Could Be Pushed Back to Next Year

The sentencing deadline for convicted cryptocurrency executive Josh Garza, first scheduled for October, is likely to be pushed to January, court records show.

As previously reported, Garza, the man behind the suspected fraudulent operation of four cryptocurrency companies, pleaded guilty to one charge of wire fraud in July. With an estimated total loss of $9,182,000, he may serve a maximum 20-year jail sentence.

But now, both the prosecutor and Garza are seeking to extend the deadline for as long as another half-year.

"The parties jointly request a continuance of the sentencing in this matter currently set for October 12, 2017. The parties make this request, in part, due to the various scheduling obligations of counsel in this matter. The parties respectfully request a continuance until January 2017," the file notes.

Garza previously pleaded guilty to charges that stem from his operation of GAW, GAW Miners, ZenMiner and ZenCloud. GAW's business went bankrupt in 2015, and is no longer operational.

Currently, another case against Garza, brought by the SEC for securities fraud, is still underway.

Josh Garza image via CoinDesk archives