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


  • Matthew Brent Goettsche
  • Russ Albert Medlin
  • 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. 


If you believe you may have been a victim of this fraud scheme, please complete and email this Questionnaire to

Court Dates:

Status conference scheduled for July 16, 2020 at 2:00 pm


Custody status

Court dates


Release on bail on 12/11/2020

12/3/2020 Detention Appeal Hearing


Released on bond

9/3/2020 Guilty Plea Hearing

9/22/2021 9:30 am Sentencing Hearing


Released on bond

11/5/2020 Guilty Plea Hearing

9/14/2021 9:30 am Sentencing Hearing


Released on bond

7/8/2020 Initial Appearance

7/9/2020 Guilty Plea Hearing

9/20/2021 9:30 am Sentencing Hearing

Medlin Detained pending extradition proceedings TBD
Beckstead Released on bond

3/24/2022 Guilty Plea Hearing

8/9/2022  9:30 am Sentencing Hearing

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


District of New Jersey Victim-Witness Program Information:

Justice Department Large Case information:

Press Releases:

December 10, 2019 Press Release

July 9, 2020 Balaci Press Release

Sept 3, 2020 Abel Press Release

November 5, 2020 Weeks Press Release

March 24, 2022 Beckstead Press Release

Court Documents:


Information – Balaci

Information – Abel

Information and Plea Agreement – Weeks

Information and Plea Agreement – Beckstead

Other Information:

All case updates will be posted on this website.

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 July 20, 2023