DOJ Seeks to Dismiss BitClub Network Founder's $722M Crypto Scam Charges

The US Department of Justice (DOJ) is seeking to dismiss federal charges against Matthew Goettsche, founder of BitClub Network, in a case that accused him of running a crypto mining 'passive income' scheme.

The alleged scam defrauded investors of $722 million between 2014 and 2019. According to a report from Bloomberg Law, the DOJ's deputy attorney general's office ordered the New Jersey attorney general's office to dismiss the case 'with prejudice.'

A court filing in New Jersey indicated that the parties have reached an agreement in principle to resolve the pending charges.