After a years-long legal battle, the U.S. Department of Justice is planning to drop charges against the "mastermind" of a $722 million crypto ponzi scheme, according to Bloomberg.
"The deputy attorney general’s office in Washington recently ordered the New Jersey U.S. attorney’s office to dismiss the prosecution with prejudice, although final terms are still being hashed out before the parties inform the court," Bloomberg Law reported, citing anonymous sources.
The man in question is Matthew Goettsche, credited with creating the crypto mining operation called BitClub Network. While Goettsche's case has dragged on, three co-defendants in the case have pleaded guilty.
In 2020, Joseph Frank Abel confessed to his involvement with the BitClub ponzi scheme, admitting to offering and selling unregistered securities in connection with the fraud case.
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