Dear Clients,
Case Summary:
Defendants Goettsche, Balaci, and Weeks have been charged with conspiracy to engage in wire fraud in connection with their roles in BitClub Network. From April 2014 through December 2019, BitClub Network was a fraudulent scheme that solicited money from investors in exchange for shares of purported cryptocurrency mining pools and rewarded investors for recruiting new investors into the scheme. Goettsche, Balaci, Weeks, and others conspired together to solicit investment in BitClub Network through fraudulent means, including by providing false and misleading figures that BitClub investors were told were “bitcoin mining earnings” purportedly generated by BitClub Network’s bitcoin mining pool. Goettsche, Balaci, Weeks, and others obtained the equivalent of at least $722 million from BitClub Network investors.
The defendants plead guilty and are given prison sentences and fines. Their assets are seized and will be used to make the victims whole again. This case is concluded.
On behalf of our clients, we asked for restitution from the relevant authorities. We expect that individual claims shall be processed this year.
Kind Regards,
Zoran Miljakovic
Attorney at Law