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Bitclub

19CR877

United States vs. Matthew Brent Goettsche et.al., 19-CR-877-CCC

Defendants:

  • Matthew Brent Goettsche
  • Jobadiah Sinclair Weeks
  • Joseph Frank Abel
  • Silviu Catalin Balaci

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.   

Defendants Goettsche, Balaci, Weeks, and Abel also conspired to sell BitClub Network shares—which were securities—notwithstanding that BitClub Network did not register the shares with the U.S. Securities and Exchange Commission.  Weeks and Abel created videos and traveled around the United States and the world to promote BitClub Network and recruit others to invest. 

One additional defendant’s identity remains under seal because he/she is at large. 

Questionnaire:

If you believe you may have been a victim of this fraud scheme, please complete and email this Questionnaire to bitclub2019@fbi.gov

Court Dates:

Defendant

Custody status

Court dates

Goettsche

Detained without bail Arraignment, DNJ, 1/15/2020 2pm Judge Cecchi

Abel

Detained without bail

Arraignment, DNJ, 1/15/2020 2pm Judge Cecchi

Weeks

Detained pending bond hearing

Arraignment, DNJ, 1/15/2020 2pm Judge Cecchi

Balaci

Detained pending extradition proceedings

TBD

Indictment: On December 5, 2019, a federal grand jury returned a two count Indictment.

Resources:

District of New Jersey Victim-Witness Program Information: https://www.justice.gov/usao-nj/victim-witness

Justice Department Large Case information: https://www.justice.gov/largecases

Press Releases:

December 10, 2019 Press Release

Court Documents:

Redacted Indictment

Contact Information:

For further information about this case, please contact the Mega Victim Case Assistance Program (MCAP) at (844) 527-5299 or e-mail USAEO.MCAP@usdoj.gov and reference the “BitClub Network” case.

Please do not call the U.S. Attorney’s Office as we do not have the personnel resources to manage high volumes of calls.

The public is reminded that an indictment contains only charges and is not evidence of guilt. The defendants are presumed innocent and are entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.

Updated January 10, 2020

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