U.S. Department of Justice Plans to Drop Charges Against BitClub Founder for Alleged $722 Million Crypto Fraud

CoinFeed July 11 news, according to Bloomberg, the U.S. Department of Justice plans to drop charges against BitClub Network founder Matthew Goettsche. Goettsche was accused of operating a cryptocurrency Ponzi scheme involving $722 million, originally scheduled for trial in October. Goettsche's legal team notified the judge on July 8 that both parties had reached an 'agreement in principle' to resolve the outstanding charges. The case has been delayed for seven years since the 2019 indictment, and three co-defendants have pleaded guilty. Goettsche assembled a legal team with ties to the Trump administration for lobbying, including Florida lawyer Bradford Cohen, who appeared on 'The Apprentice', and Brett Tolman, who has helped clients obtain Trump pardons.