Bitclub Newsletter No. 122

Dear Clients,

We would like to remind you of the key information regarding the BitClub Network fraud, which operated as a fraudulent scheme between April 2014 and December 2019. The accused, Goettsche, Balaci, Weeks, and others, collected money from investors with promises of profits from bitcoin mining while additionally rewarding investors for recruiting new members, making this scheme a classic pyramid fraud.

The total reported damages amount to an astounding $722 million. Furthermore, the accused conspired to sell unregistered securities, while individuals like Gordon Brad Beckstead participated in money laundering and tax evasion, concealing income exceeding $60 million.

The proceedings in this case are still ongoing. Their duration has been extended due to the complexity of the crime, the large number of victims, and the international element that further complicates the investigation and prosecution.

As this case represents one of the largest and most serious cryptocurrency frauds, it is crucial to continue monitoring its developments carefully. During the proceedings, our office will keep you regularly informed about any new information related to your case and your rights.

If you have any questions or need additional support, please feel free to contact us. We are here to provide you with all the necessary information and advice.

Kind regards,

Attorney Zoran Miljaković