John DeMarr pleads guilty to Bitcoiin fraud charge
After pleading not guilty to four counts of Bitcoiin related fraud in April, a few days ago DeMarr entered a change of plea.
Proceedings were held on July 30th, at which DeMarr changed his plea to guilty.
Interestingly, DeMarr’s original indictment detailed four counts of fraud. DeMarr’s change of plea applies to the first count of conspiracy to commit securities fraud.
I’m not 100% sure but I believe this is an indication of a plea agreement between DeMarr and the DOJ.
It is highly likely that in exchange for dropping the other three counts of fraud, DeMarr has entered into a cooperation agreement of some kind.
This would pertain to collection of evidence against those above DeMarr – namely Krsitijan Krstic.
Krstic (right) has been separately indicted on fraud charges relating to Bitcoiin. He has also been indicted for running a decade long $70 million dollar Ponzi empire.
Krstic was arrested last year in Serbia on an international arrest warrant. He is facing life in prison if convicted.
The US is has requested Krstic’s extradition but he has filed multiple appeals.
I imagine insider plea deals from insiders such as DeMarr and Antonije Stojilkovic will strengthen the DOJ’s case.
To what extent that might impact extradition proceedings though I can’t say.
John DeMarr is facing a maximum five-year prison sentence. He is scheduled to be sentenced on January 4th, 2022.
Update 6th January 2022 – On November 18th DeMarr’s January sentencing was rescheduled for April 8th, 2022.
The accepted reason for the adjournment was holiday scheduling with response to filings.
Update 6th February 2022 – On January 11th DeMarr’s sentencing was rescheduled again for April 5th.
Update 7th April 2022 – DeMarr’s sentencing hearing was held on April 5th but didn’t result in a sentence.
DeMarr appears to have objected to the DOJ’s Pre-sentence Report. And whatever that objection was, it was unable to be resolved on April 5th.
As a result DeMarr has been directed to file his PSR objection by April 11th. The DOJ will then file a response by April 13th.
Pending resolution of DeMarr’s objection(s), stay tuned…
Update 20th May 2022 – DeMarr has a new sentencing hearing scheduled for May 25th.
Update 26th May 2022 – On May 24th Judge Hall made the following order:
The sentencing hearing scheduled for May 25, 2022, is ADJOURNED to November 14, 2022.
No explanation for the adjournment was given. I’m thinking it might have something to do with Kristijan Krstic’s disappearance.
Update 26th September 2022 – On August 31st DeMarr’s sentencing was postponed again:
The sentencing hearing scheduled for November 14, 2022, is ADJOURNED to January 31, 2023.
As with the previous delays, no explanation was provided.
Update 1st February 2023 – John DeMarr has been sentenced to 5 years in prison.
Thanks, been waiting for an update all day.
Wish they’d state what they’d asked Serbia. And hopefully that means the requested US clarifications were accepted.
Who knew extraditing Ponzi scammers who defrauded consumers for a decade and left a ton of evidence would be so difficult.
edit: Oh wait, it says the August 16th deadline was extended. Dunno if that’s better or worse.
Funny thing… Strasbourg Court very diligently posts all cases, opinions etc. Can someone find that court ruling on this case?
Three defendants are missing!
Nothing. They’re doing nothing.
When Krstic disappears that’ll confirm what is now suspected corruption.
Hold up, am I misreading this or are they talking about Kristijan Krstic?!
Oh you absolute fucking donkeys.
Confirmed: Kristijan Krstic and his wife fled on August 5th.
Joke of a legal system lets mastermind of a $70 million Ponzi empire out and doesn’t even confiscate his passport.
I’ll have an article up shortly.
Article updated with DeMarr sentencing adjournment to April 2022.
DeMarr’s sentencing was bumped three days earlier.
Also on Jan 20th an order was made sealing the presentence investigation report.
Might not be but I think this could be due to it containing information on or potentially relevant to Krstic, who is of course still on the run.
Article updated with DeMarr sentencing hiccup.
Filings are in (under seal). Expect sentencing to move forward sometime in the next few weeks.
Article updated with new DeMarr sentencing date.
Article updated to note DeMarr sentencing delay to November.
Article updated to note DeMarr’s sentencing pushed back to Jan 2023.
I’m a victim of John Demarr. It’s been horrendous, egregious victimization of fraud and deception and he was being protected by attorneys and law enforcement, while I was being deceived and victimized by him.
It was not the bit coin fraud for me but something even worse. Something that is corruption by many and causing like a legal mafia group to succeed.
He’s a horrendous person who, I believe, felt untouchable from being caught.