U.S. Justice Department Plans to Drop Charges Against BitClub Network Founder Over $722M Crypto Fraud on July 8

According to Bloomberg, the U.S. Department of Justice plans to withdraw charges against Matthew Goettsche, founder of BitClub Network, on July 8. Goettsche was charged with operating a cryptocurrency Ponzi scheme involving $722 million; his legal team notified the judge that both parties reached a "preliminary agreement" to resolve the pending charges. Originally scheduled for trial in October, the case has been pending since indictment in 2019. Three co-defendants have already pleaded guilty.
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