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The Department of Justice is planning to drop the charges against a Colorado man accused of running cryptocurrency fraud that allegedly netted him $722 million in ill-gotten gains.Matthew Goettsche, along with several others, was indicted in 2019 over claims he defrauded investors with his crypto mining firm, BitClub Network. He rewarded investors for recruiting new members, prosecutors said, the classic structure of a Ponzi scheme.In a sharp reversal, the deputy attorney general's office in Washington ordered the New Jersey U.S. attorney's office to dismiss the case with prejudice, two people familiar with the matter told Bloomberg Law.The first public sign that the prosecution was no longer being pursued came on Wednesday, when Goettsche's attorneys filed a motion informing the judge they had "reached an agreement in principle to resolve the pending charges."FBI SEIZES $8 BILLION IN CRYPTO AMID INTERCONTINENTAL ‘SCAM COMPOUND’ CRACKDOWNAccording to the people who spoke with Bloomberg Law, Goettsche assembled a team of lawyers who had connections to the Trump administration that could lobby for relief from the DOJ.Fox News Digital reached out to the DOJ for comment. Emily Covington, a DOJ spokesperson, denied that the decision to drop the charges had anything to with "any alleged pressure by Goettsche’s attorneys," in a statement to Bloomberg Law.She also said that the DOJ routinely evaluates pending cases and that the government is in the process of recovering "a substantial amount owed to investors."This marks a stunning shift since February, when prosecutors sent the court a letter saying that a jury trial was necessary.TEXT JOB SCAM COST HIM $10K IN CRYPTO"The Indictment concerns a global fraudulent scheme based on false promises that the victims’ hundreds of millions of dollars in investments would be used to generate returns from cryptocurrency mining," prosecutors wrote in the letter, which was signed by then-Deputy Attorney General Todd Blanche.In 2015, when BitClub Network was just getting off the ground, Goettsche allegedly said to his co-conspirators, "We are building this whole model on the backs of idiots," according to the indictment.Bitcoin mining is a process that requires "miners" to use computers to solve complicated math problems in order to be rewarded with newly-minted bitcoin.MINNESOTA BANS CRYPTO ATMs AFTER SCAM SURGEBitClub Network, as others were doing at the time, purported to pool investors money together to buy hardware and computer chips to build a better mining system. The idea was to then distribute the profits.Prosecutors argued that BitClub… [TheTopNews] Read More.11 hours ago - US, Canada strike deal to open bridge linking Detroit and Windsor after dispute ...The United States and Canada have reached a deal to open a new multibillion-dollar bridge linking Detroit and Windsor, Ontario, ending a dispute that delayed the project’s launch.The Gordie-Howe International Bridge will now open on July 27 and become the fourth crossing between Detroit and Canada.The 1.5-mile bridge was originally supposed to open last month. The Windsor-Detroit Bridge Authority said on June 11 that the U.S. and Canada had agreed to put off the opening to "resolve any outstanding issues."President Donald Trump — who earlier this year threatened to block the bridge's opening unless the U.S. had an ownership stake in it — announced on Truth Social early on Saturday that he "was able to cut a MUCH BETTER DEAL for America."CANADA'S PRIME MINISTER REFERS TO US ECONOMIC TIES AS A WEAKNESSThe original deal for the "new and spectacular" bridge was "unacceptable to me," Trump wrote in his post."The new deal is great, and fair. Thank you and congratulations to the Canadian Government. May we both have many years of success with this wonderful new development!!!" he concluded.On Friday, the Windsor-Detroit Bridge Authority said the U.S. and Canada agreed to a "series of cooperative measures" related to how tolls would be charged to drivers.Both sides agreed that half of the net profit the bridge generates will go to a regional development fund, The Wall Street Journal reported, citing a Canadian official.FIERCE TRUMP CRITIC MAKES STUNNING ADMISSION ON DEFENSE SPENDING: ‘HE HAS WON THE ARGUMENT’The original deal stipulated that all toll revenue would go to Canada until it recovered the approximately 6.4 billion CAD it cost to build the bridge. Construction began in 2018 and Canada agreed to foot the entire bill.The Canadian official also told The Journal that the bridge authority will need U.S. approval before raising tolls by 10% or more. Approval would also be needed if the authority were to cut tolls below what is charged for comparable crossings, such as Ambassador Bridge, the official said.Fox News Digital reached out to the White House, the Canadian Prime Minister's Office and the bridge authority for comment on the terms of the new deal.CANADA'S CARNEY PLEDGES ACTION ON ANTISEMITISM AMID BACKLASH OVER NEW ANTI-HATE COUNCIL MEMBERSIn a statement on Friday, Michigan Gov. Gretchen Whitmer celebrated the opening of the bridge, which will be co-owned by her state and Canada. She did not mention Trump or the administration in her remarks."Thousands of… [TheTopNews] Read More.16 hours ago
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