JUST IN: 🇺🇸 Trump DOJ to drop charges against the mastermind of $722,000,000 crypto Ponzi scheme, Bloomberg reports.
The US Justice Department is preparing to drop charges with prejudice against Matthew Goettsche, the alleged mastermind behind BitClub Network, a cryptocurrency mining scheme prosecutors said defrauded investors of $722 million.
Goettsche was indicted in 2019 on wire fraud and unregistered securities charges and was scheduled to stand trial in October. Prosecutors alleged BitClub Network used false claims about crypto mining profits to attract investors while rewarding members for recruiting others.
The DOJ said the decision was based on the case's seven-year timeline and efforts to recover money for victims, and denied that pressure from Goettsche's attorneys influenced the outcome. Three co-defendants previously pleaded guilty. Final terms are still being negotiated before the dismissal is submitted to the court.
Goettsche was indicted in 2019 on wire fraud and unregistered securities charges and was scheduled to stand trial in October. Prosecutors alleged BitClub Network used false claims about crypto mining profits to attract investors while rewarding members for recruiting others.
The DOJ said the decision was based on the case's seven-year timeline and efforts to recover money for victims, and denied that pressure from Goettsche's attorneys influenced the outcome. Three co-defendants previously pleaded guilty. Final terms are still being negotiated before the dismissal is submitted to the court.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
