BitClub Network’s Russ Medlin still at large
The unsealing of the BitClub Network case docket confirms that, as of December 20th, co-founder Russ Medlin is still on the run from authorities.
We first learned of the DOJ’s $722 million dollar Ponzi fraud case against BitClub Network on December 11th.
At the time three defendants were named, Matthew Goettsche, Jobadiah Weeks and Joseph Abel.
Two other defendants remained under seal. It was believed they are BitClub Network co-founder Russ Medlin and programmer Silviu Catalin Balaci.
Balaci (right) has since been confirmed as the fourth named defendant. He is believed to have been arrested in Germany sometime between December 11th and the 15th.
As per Balaci’s LinkedIn profile, he runs EvoBits Information Technology SRL and is the CTO of Bitchain GmBH.
Balaci is believed to be a Romanian national but as per his LinkedIn profile is based out of Frankfurt, Germany.
It’s worth noting that EvoBits is based out of Romania, so it seems Balaci spent his time between both Romania and Germany.
BitClub Network is conspicuously absent on Balaci’s resume. Since his arrest, Balaci’s personal website has been pulled offline.
Last we heard Russ Medlin was hoping to get his Crypto Societi Ponzi reboot off the ground.
On December 20th the New Jersey District Court unsealed the case against BitClub Network and its operators.
As per the order to unseal, the original arrest warrants and unredacted indictment are to remain under seal until “Defendant Two’s” arrest.
Defendant Two is strongly believed to be Russ Medlin.
As at the time of publication, a redacted copy of the indictment, naming Balaci but redacting Medlin, was made public on December 20th.
The original arrest warrants and unredacted indictment remain under seal, confirming Medlin is still on the run.
On December 15th, the Daily Beast outed Medlin as a “convicted sex offender for child pornography and sexual assault of a minor under 14”.
Crypto Societi is currently being promoted across Africa. Russ Medlin’s current status and whereabouts are unknown.
Update 16th June 2020 – BitClub Network’s Russ Medlin has been arrested in Indonesia.
AM A KENYAN RECENTLY WORKING AT NPS I INVESTED IN BITCLUB ADVANTAGE AFRICA.
ALL OVER SUDDEN THE COMPANY CLOSED WITH MY MONEY ALL I NEED IS A REFUND.
BitClub Network was a Ponzi scheme. There are no refunds.
Sorry for your loss.
I just asked question in another article but it looks like this thread answers it. So, as of Dec. 27th no one can get their money back?
That is REALLY – REALLY Sad. Wow. Just wow. I hope those who invested get their damn money back somehow!
Yeah, not sure how far the BitClub Network investigation will extend. It’s only criminal for now.
Is very sad if that is really true I am still dreaming.
The situation started getting suspecious especially in November early Dec 2019 the earnings from mining declined so terribly, if these culprits can be brought to book and refund their clients.
RUSS MIGHT HAVE HAD SQUEEZED A LOT FROM THE INNOCENT INVESTORS.
I think Bitclub network was a sound and legit business. But somewhere along the line Russ and his team became selfish and greedy and abused people’s invested funds instead of purchasing more advanced machines to remain competitive in the bitcoin mining business.
It ended up as a ponzi scheme that eventually collapsed.
Chat logs don’t lie:
BitClub Network was a Ponzi scheme from the beginning. You just bought into the lies.
Hello MY name is Solomon I am from south Africa I invested all I had in Bitclub Network. And I never received a single cent it’s now 2years.
Yup, that’s how a Ponzi scheme works. Sorry for your loss.
Hello I hope that after all these Case Bitclub Network will come back.. The other thing how Blockchain mix with Bitclub Network if is a Ponzi scheme….
Yeah, BitClub Network isn’t coming back.
Because blockchain or not, a Ponzi scheme uses recycled funds to pay existing investors.
what is going on , please advise.
Nothing much. You invested in a Ponzi scheme and now your money is gone.
Sorry for your loss.
How is the investigation going?
The FBI doesn’t comment on active investigations.
I am from south Africa invested with bitclub nowone of my friends who also invested received an email end of March from bitchain to do kyc and pay USF10 to activate his account.
His account was then “activated” but all his mining was zero and his earnings too wiped out. Dont you think someone in hacking people’s accounts from this bitchain
Your response appreciated.
Anyone contacting you to reactivate your BCN account is scamming you.