The U.S. Department of Justice is preparing to drop charges against Matthew Goettsche, identified in the case as the ringleader of the alleged $722 million BitClub Network cryptocurrency Ponzi scheme. Bloomberg Law reported that the Office of the Deputy Attorney General has instructed the U.S. Attorney’s Office in New Jersey to move for dismissal, though the final terms are still being negotiated. The case has been active for seven years and was scheduled to go to trial in October. Three co-defendants had already pleaded guilty. Bloomberg Law also reported that Goettsche hired lawyers with ties to the Trump administration to lobby on his behalf. A Justice Department spokesperson said the government regularly reviews older cases and is still working to recover funds for investors, while rejecting the idea that the defense team pressured the department into the planned dismissal.
The U.S. Department of Justice plans to drop charges against Matthew Goettsche in the BitClub Network case, an alleged $722 million cryptocurrency Ponzi scheme.
According to Bloomberg Law, the Office of the Deputy Attorney General has directed the U.S. Attorney’s Office in New Jersey to seek dismissal, with final terms still under negotiation. The case has lasted seven years and had been set for trial in October. Three co-defendants previously pleaded guilty.
Bloomberg Law said Goettsche hired lawyers with ties to the Trump administration to lobby in the matter. A Justice Department spokesperson said the government regularly reviews older cases and is continuing efforts to recover money for investors, while denying that the planned move was driven by pressure from the defense team.
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