Bloomberg · Donald Trump · DOJ · The Block
DOJ to drop charges against man accused in $722 million BitClub crypto Ponzi scheme: Bloomberg
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After a years-long legal battle, the U.S. Department of Justice is planning to drop charges against the "mastermind" of a $722 million crypto ponzi scheme, .
Key facts
- Two people urging the DOJ to drop the charges against Goettsche include Bradford Cohen, a lawyer and former contestant on 'The Apprentice,' and Brett Tolman, a conservative advocate who has helped
- After a years-long legal battle, the U.S. Department of Justice is planning to drop charges against the "mastermind" of a $722 million crypto ponzi scheme
- In 2020, Joseph Frank Abel confessed to his involvement with the BitClub ponzi scheme, admitting to offering and selling unregistered securities in connection with the fraud case
- The move to drop charges would reverse course on a 2019 indictment that was nearing trial, the report added
Summary
After a years-long legal battle, the U.S. "The deputy attorney general’s office in Washington recently ordered the New Jersey U.S. attorney’s office to dismiss the prosecution with prejudice, although final terms are still being hashed out before the parties inform the court," Bloomberg Law reported, citing anonymous sources. The man in question is Matthew Goettsche, credited with creating the crypto mining operation called BitClub Network. In 2020, Joseph Frank Abel confessed to his involvement with the BitClub ponzi scheme, admitting to offering and selling unregistered securities in connection with the fraud case. Two people urging the DOJ to drop the charges against Goettsche include Bradford Cohen, a lawyer and former contestant on 'The Apprentice,' and Brett Tolman, a conservative advocate who has helped clients secure pardons from President Donald Trump.