Bitclub Newsletter No. 112
Dear Clients,
In this newsletter you will find some of the answers to some of the frequently asked questions together with the short recap of the expected developments.
Question: In September, we are expecting two court rulings. Both defendants have pleaded guilty. The agreement with the public prosecutor includes compensation for the victims. How do you assess the situation? Is it likely that victims will receive partial payment initially?
Answer: Based on the current situation, we do not expect partial payment to the victims until the final defendant, Matthew Goettsche, has been convicted. Goettsche is a key figure in this case, and the largest amount of assets was seized from him. The rulings for the defendants in September are significant, but the final decision on compensation for the victims will likely depend on the final ruling against Goettsche. Until then, we recommend that victims remain patient, as a fair resolution of the case will likely provide a complete outcome for all affected.
The information about the case that we shared in earlier emails is as follows:
The sentencing of the defendants in the BitClub Network case is scheduled for:
- Joe Abel: September 18, 2024
- Silviu Balaci: September 24, 2024
Note: The sentencing for Weeks has been postponed to November 2024.
These delays are likely due to the processing of evidence in the case against Matthew Goettsche. The primary defendant, Goettsche, has not reached a plea agreement with the prosecution nor admitted guilt. His case is still ongoing. As you know, the largest portion of the seized assets comes from him. It is estimated that compensation to the victims will not be possible until all sentences are finalized.
This is a large case with a huge volume of evidence that needs to be analyzed, and the lawyers have the right to respond to it. We observe that both the prosecutors and defense attorneys are working thoroughly. The path to uncovering the truth and determining the responsibility of each participant is long. A major success in this case has been the discovery and freezing of the defendants’ assets, which allows the victims to wait for the end of the trial with less concern.
Zoran Miljakovic
Attorney at Law