DOJ Prepares to Dismiss Charges Against Alleged BitClub Founder

The U.S. Department of Justice (DOJ) is planning to dismiss its criminal case against Matthew Goettsche, the alleged founder of the BitClub Network cryptocurrency investment scheme.

This move could potentially bring one of the longest-running crypto fraud prosecutions to an end, after nearly seven years in court.

The BitClub Network case alleges that Goettsche and several co-defendants operated a global cryptocurrency mining scheme that defrauded investors of at least $722 million.

According to Bloomberg Law, the DOJ has instructed prosecutors in New Jersey to dismiss the charges against Goettsche with prejudice, which means the case could not be refiled if the court approves the request.