Federal prosecutors to drop charges against alleged mastermind of $722 million crypto Ponzi scheme

[BlueWaveNeverEnd]

https://www.foxbusiness.com/fox-news-crime/federal-prosecutors-drop-charges-against-alleged-mastermind-722-million-crypto-ponzi-scheme



The Department of Justice is planning to drop charges against a Colorado man accused of running a cryptocurrency fraud that allegedly netted him $722 million.

Matthew Goettsche and several others were indicted in 2019 over claims he defrauded investors with his crypto mining firm, BitClub Network. He rewarded investors for recruiting new members, prosecutors said, the classic structure of a Ponzi scheme.

In a sharp reversal, the deputy attorney general's office in Washington ordered the New Jersey U.S. attorney's office to dismiss the case with prejudice, two people familiar with the matter told Bloomberg Law.

The first public sign that the prosecution was no longer being pursued came Wednesday, when Goettsche's attorneys filed a motion
informing the judge they had "reached an agreement in principle to resolve the pending charges."

According to sources who spoke with Bloomberg Law, Goettsche assembled a team of lawyers who had connections to the Trump administration that could lobby for relief from the DOJ.

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In 2015, when BitClub Network was just getting off the ground, Goettsche allegedly told his co-conspirators, "We are building this whole model on the backs of idiots," according to the indictment.

[dalton99a]

1. Professional courtesy among thieves.

[tanyev]

2. And how large a donation to Trump's favorite "charity" did that cost?

😒