Dear Clients,

Below a short 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 United States Attorney’s Office for the District of New Jersey led the case under the number Matthew Brent Goettsche et al., 19-CR-877-CCC. The first indictment was brought in 2019. As of 2023, the legal proceedings have ended, and the final verdict and court decision on compensation for the victims are expected.

This is one of the first major cases that was prosecuted. The proceedings lasted longer because the prosecution and police were gaining experience in resolving such cases. As lawyers, we are satisfied with the work of the prosecution and the court, regardless of the duration of the process.

Victims can still report their claims through our DefendMe Platform. The prosecution is still accepting claims from victims.

Zoran Miljakovic

Attorney at law