The post DOJ Seeks Dismissal of $722 Million BitClub Fraudster appeared on BitcoinEthereumNews.com.
The US Department of Justice is reportedly moving to drop charges against the founder of BitClub Network, a purported crypto mining platform that allegedly defrauded investors of $722 million between 2014 and 2019. A court filing shows Matthew Goettsche’s attorneys wrote to New Jersey district court Judge Claire Cecchi on Wednesday, stating that the parties “reached an agreement in principle” to resolve the pending charges “but need time to finalize the terms.” Goettsche’s attorneys’ letter to New Jersey district court Judge Claire Cecchi. Source: Bloomberg Law The filing came after the deputy attorney general’s office in Washington reportedly ordered the New Jersey attorney general’s office to dismiss the case against Goettsche with prejudice, according to a report on Friday from Bloomberg Law, citing two sources familiar with the matter. Goettsche was indicted in December 2019 and was
The post DOJ plans to end prosecution of alleged BitClub mastermind in $722M crypto fraud case appeared on BitcoinEthereumNews.com.
The U.S. Department of Justice [DOJ] plans to dismiss its criminal case against Matthew Goettsche, the alleged founder of the BitClub Network cryptocurrency investment scheme, Bloomberg Law reported. This could potentially bring one of the longest-running crypto fraud prosecutions to an end. The reported move comes nearly seven years after federal prosecutors accused Goettsche and several co-defendants of operating a global cryptocurrency mining scheme that allegedly defrauded investors of at least $722 million. While the DOJ is reportedly preparing to dismiss the case with prejudice, no dismissal motion had appeared on the public court docket at the time of writing. Bloomberg: DOJ preparing to dismiss prosecution Bloomberg Law reported that the DOJ has instructed prosecutors in New Jersey to dismiss the charges against Goettsche with prejudice. This mean
The DOJ's decision to drop charges may signal a shift in crypto enforcement, potentially impacting future fraud accountability and investor trust.
The post DOJ plans to drop charges against BitClub ringleader, reversing indictment appeared first on Crypto Briefing.
The post DOJ Crypto Theft Charges Against Federal Inmate appeared on BitcoinEthereumNews.com.
A federal inmate already serving time for a multimillion-dollar fraud scheme now faces a fresh set of DOJ crypto theft charges after allegedly stealing roughly $290,000 in cryptocurrency that had already been forfeited to the U.S. government — and doing it from behind bars. Key takeaways Rossen G. Iossifov, a 53-year-old Bulgarian national, is charged with stealing approximately $290,000 in forfeited cryptocurrency while serving a federal prison sentence. The alleged theft occurred in January 2024, nearly three years after his 2021 conviction for an online auction fraud scheme that laundered nearly $5 million in cryptocurrency. He allegedly moved the funds through multiple exchanges and illicit mixing services to prevent government seizure. Current charges include removal of property to prevent seizure, aiding and abetting, and conspiracy to commit money laundering. If convicted, Iossifov face
The post DOJ Says Inmate Moved $290K Through Crypto Mixers appeared on BitcoinEthereumNews.com.
United States prosecutors have charged a man serving a federal prison sentence over the alleged removal and laundering of about $290,000 in crypto assets held in a Kraken account subject to a forfeiture order. The Department of Justice said on Thursday that Rossen Iossifov, a Bulgarian national, conspired in January 2024 to withdraw and transfer crypto that a federal court had ordered forfeited following his 2021 conviction. Prosecutors allege that the assets were moved through illicit mixing services and crypto exchanges before the US could take possession. The case shows how attempts to move crypto after a forfeiture order can trigger fresh criminal charges, even after the underlying conviction. The US Attorney’s Office for the Eastern District of Kentucky said the cryptocurrency was held in an account registered to Iossifov at Kraken and had been restrained during the investigation. The
The post Binance rejects claims of ‘less cooperation’ in DOJ crypto investigations appeared on BitcoinEthereumNews.com.
The world’s largest crypto exchange, Binance, continues to face heightened regulatory scrutiny. In an internal memo in June, the U.S. Department of Justice (DOJ) reportedly told prosecutors that they should expect ‘less cooperation’ from Binance in crypto-related investigations. Binance has been under DOJ monitoring since its criminal case in 2023, which is set to last three years and can be extended by an additional year. Given the formal monitoring began in May 2024, the compliance scrutiny could end by May 2027, assuming there is no extension. Afterward, the U.S. Treasury oversight is expected to go on for another two years. So, overall, about 3 to 6 years of Treasury and DOJ oversight. Under independent monitoring, the report stated that Binance has been helping DOJ crypto prosecutors with cases and ‘courtesy’ customer account freezes. Going forward, any accoun
The post DOJ warning puts Binance crypto freeze policy in the spotlight appeared on BitcoinEthereumNews.com.
A reported Justice Department memo has put Binance’s law enforcement cooperation back in focus. The Information reported that DOJ staff were told to expect less support from the exchange in crypto cases starting June 8. Summary DOJ reportedly expects slower Binance action when prosecutors seek account freezes or crypto seizures abroad. Binance denies any change, saying it will keep handling U.S. law enforcement requests as normal. Any shift from courtesy freezes to MLATs could slow fast-moving crypto crime asset recovery work. The reported memo said Binance would stop offering courtesy freezes and would require Mutual Legal Assistance Treaty requests, or other formal legal steps, for some account freezes or seizures. Courtesy freezes are temporary holds that exchanges may place before full legal paperwork arrives. The Information: A DOJ memo warned staff to expect less Binance c
