Matt Goettsche’s BitClub Network bond set at $20 million
Following a hearing on December 11th, BitClub Network co-creator Matthew Brent Goettsche’s bond has been set at $20 million dollars.
Goettsche’s bond has been secured with approximately $8.6 million in valued properties. Eight of those properties are in Colorado, one is in Las Vegas, Nevada.
As above, there’s no mention of cash so I’m not sure where the outstanding $11.4 million will be sourced from.
The waiving of Local Criminal Rule 46.1(d)(3) allows for property outside of New Jersey to be offered as surety.
As per his conditions of release, Goettsche will be released into the custody of Danielle Goettsche and Victoria Landerman.
Dannielle is Goettsche’s wife. Victoria Landerman appears to be a relative.
Goettsche (right) will be subject to home incarceration in Colorado with electronic location monitoring.
Additionally he will
- have to surrender all passports and travel documents to Pretrial Services, including that of his wife and three children;
- submit to substance abuse testing and/or treatment if required;
- refrain from possessing a firearm, dangerous device or any other dangerous weapon;
- have no contact with BitClub Network victims (includes any potential witnesses);
- have no contact with his BitClub Network co-defendants;
- be prohibited from using the internet and/or use of computers or any connected device;
- be prohibited from owning or using a cellphone; and
- have to inform PTS if he and/or his wife spend $5000 a month on a single transaction.
Looking forward, Goettsche rejected a plea deal in September 2020. His case will thus continue to trial throughout 2021.
Update 8th March 2021 – On February 26th Matt Goettsche’s case was designed “unusual or complex”. This is primarily due to “voluminous discovery”.
As a result of this, Goettsche’s case has been continued till July 16th.
Update 24th July 2021 – Goettsche case has been suspended again, this time until September 30th, 2021.
I’m still muddled about how a scammer gets out on bond using money and property he acquired through his criminal enterprise.
How exactly do money and possessions that are subject to forfeiture anyway constitute a bond?
I thought a bond was supposed to be something that caused financial loss if broken, not just an “Oh, well, I wasn’t gonna get to keep that anyway, so I might as well smuggle myself off to Dubai.”
I mean, what the hell?
I think the guarantee is the co-signers
Basically a bunch of people (relatives and friends) lose their homes if Goettsche does a runner.
Granted the property values are less than half of the $20 mill bond. I still don’t know where the rest of the money is coming from.
While his bond is $20 Million, he only has to put up $2 Million to be out on bond, not the total $20 Million.
While those “guaranteeing” his bond of $20 Million have to put up cash and securities equaling the total amount should he bail on them, we don’t know if he has wealthy relatives and friends who were willing to put up the collateral for his bond and his release.
Usually in the US you have to prove the bond money is non-tainted money and show verified accounting records to confirm it.
What we do know is someone, or several did, and that’s why he is out on bail.
Still it is disheartening that he could get someone to put up the bail money so he wouldn’t have to sit in jail awaiting trial for the crime he has committed.
when Is the Trial to start I wan to go. Where will it be?
He as a brother in law is played in the Major Leagues may be put up some money.
No trial date has been set yet.
Do you have any information about recouping money invested in bitclub network by any chance?
Also, there are still several sites operating under the same name, using the same logo and seemingly able to take people’s money. See (removed)
Is anyone looking into these sites and their connection to the original scammers or these people continuing the scheme while being prosecuted??
Your money was stolen the second you invested. That’s how Ponzi schemes work. Sorry for your loss.
These are reload scams set up by other scammers. Not aware of any investigations into them.
Probably not worth the effort given how utterly stupid you’d have to be to fall for them. I can’t imagine that being enough people for regulators to take notice.
Article updated to note continuance with respect to proceedings against Goettsche.
I was friends with his younger brother. I have some ideas about where the money is coming from.
How can I speak with the writer of this blog about Bitclub?
Contact button is on the top right of every page.
If there’s illegality involved might be worth reaching out to the DOJ too.
Hi can you tell me how do i find money to replace the house I sold to buy pools in this bitclub network.
As from 2014 I don’t have a job, suffering even to get something eat with my children. I’ve tried to find funds online but their procedure of posting to my community on social media was a draw back to me.
For I knew that people who know me will make fun of me.
I thought I will be able to get good returns after 3years as they promised 1000 days mining returns. so that I give my children a good life.
You know what? We were created to be like God (Ozedit: derails removed)
While I feel sorry for your children maybe look at why you’ve been unable to find work in eight years.
Also maybe lay off the preaching, it’s clearly not working out for you.