DOJ moves to dismiss charges against alleged $722 million BitClub fraudster: Report
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Matthew Goettsche was set to face trial in October for conspiracy to commit wire fraud and selling unregistered securities.
Key facts
The DOJ also froze over $700 million in crypto tied to investment scammers targeting Americans in April, while in February, it seized nearly $580 million in crypto linked to a criminal scam group
The US Department of Justice is reportedly moving to drop charges against the founder of BitClub Network, a purported crypto mining platform that allegedly defrauded investors of $722 million
In April, California man Evan Tageman was sentenced to 70 months in prison for his role in a criminal enterprise that stole about $263 million worth of crypto from victims through social engineering
BitClub operated from April 2014 to December 2019, claiming to be a Bitcoin mining pool where investors could buy shares and earn passive returns
Summary
The US Department of Justice is reportedly moving to drop charges against the founder of BitClub Network, a purported crypto mining platform that allegedly defrauded investors of $722 million between 2014 and 2019. A court filing shows Matthew Goettsche’s attorneys wrote to New Jersey district court Judge Claire Cecchi on Wednesday, stating that the parties “reached an agreement in principle” to resolve the pending charges “but need time to finalize the terms.” The filing came after the deputy attorney general’s office in Washington reportedly ordered the New Jersey attorney general’s office to dismiss the case against Goettsche with prejudice, according to a report on Friday from Bloomberg Law, citing two .