The pump-and-dump is only part of it. "Defendants used Plaintiffs’ money to further profit by fraudulently pumping-and-dumping Cachecoin."  The charges about selling computer equipment that didn't exist were something else.

In a pump-and-dump scheme the price is pumped through hype, then the scammers dump the coins/shares they've accumulated into the resulting volume. Garza made money by selling paycoins and hashtakers on the way up, at absurd prices sustained by hype. Everything else is about long-term revenue streams, from fees and spreads and so on. You can say that the only way he could have kept it going was to go ponzi and I wouldn't disagree, but the point is that this was a long-term plan. He wanted to keep it going as long as he could (and probably believed sincerely that he could smooth-talk his way through it). I don't see any reason at all to think that his plan was to dump and run.