How does the law work in US? His name is not mentioned. Are officers on the hook personally? Can bankruptcy get him out from under this? Is jail an option for this?
I'm thinking yes to all of the above but would like some clarification.
What officers of this company are on the hook?
The two LLCs were co-defendants in the case, along with Garza personally. So the default judgement is merely a reflection of the fact that the LLCs are essentially defunct. Garza is still on the hook.
This is the SEC civil case, so no jail here. That would be (hopefully) part of the FBI/DOJ plea deal in July.
One thing to keep in mind is that Garza scammed bitcoins, which now would be worth about 8x compared to late 2014. So even if he somehow comes up with the $10 million, either as part of the plea deal or in the SEC case, he's still screwing everyone over to the tune of $70m+.
In the back of my mind I wonder if he still has some out there in the block chain he hadn't spent. Its like the pirate with buried treasure...we just need to find the map. Hopefully they follow his banking transactions and his family's for a while after he is out of prison.