Timelines of events are interesting.  "Come on, give me those tax refunds, I'm gonna have PYCs worth $20 each any second, plus I own a fleet of prime controllers and my biz partner  (and his investment bank backers) and I are going to do a deal with this alt-coin payment processor, amazon, wal-mart, etc."  Would be wild if true.  How much financial backing did Gaw represent Paycoin/Paybase had? 100M, 200M Fraser probably doesn't have the much in personal wealth and also probably couldn't just hand over that much investor/client money without talking to partners at Cantor not biased by hype (like an investment committee for his group w/i Cantor)?  Maybe they (Cantor and/or Fraser) acted as a trustee for CSW?

Many possibilities still exist with this story overall (and beyond the GAW fun), I don't think anything can be concluded 100% yet.