Matthew Goettsche was a significant player in the $722 million BitClub Network Ponzi scam.
Following his 2019 arrest, Goettsche pleaded not guilty. However, Goettsche has been declared a flight risk and is placed in jail.
After plea bargain discussions failed, Goettsche challenged his arrest, and a bail of $20 million was set for December 2020.
Goettsche posted the required bond and was released to house detention.
After nearly two years, Goettsche continues to struggle with his release terms. With tens of millions of dollars in ill-gotten profits still at large, Goettsche has petitioned for his release.
*cue the tiniest violin orchestra in the world*
Goettsche’s actions have repercussions for more than just himself. He is compelled to be in the constant company of a third-party custodian, which he deems “very onerous.”
The wife, mother, and mother-in-law of Mr. Goettsche daily coordinate their schedules to be at home with him.
Also “burdensome” is the fact that Goettsche cannot utilize the internet, computers, or rental revenue.
Goettsche filed a motion demanding an adjustment in his release terms on September 21.
a curfew from 6pm to 8am;
necessitating a third-party custodian only if he leaves his home (only in Colorado);
Goettsche has complete access to the internet and computers, provided he does not access or transfer cryptocurrencies; and
The present release of rental income kept in escrow
Goettsche argues that the effective safeguards in place to dissuade him from escaping and the fact that he hasn’t fled should be relaxed.
Mr. Goettsche has been out on pretrial release without incident for over twenty months under severe and very restrictive requirements stemming from the government’s false fears of flight risk.
Goettsche argues that he could depart at any time, regardless of any restrictions the court lays on him.
The passage of time has demonstrated that the government’s assertion that no bail terms could realistically secure Mr. Goettsche’s attendance was erroneous.
Mr. Goettsche has neither fled nor violated a condition or modification of his bail. During nearly twenty months of freedom, the government’s worries expressed throughout the detention, bail, and appeals processes have shown to be unfounded.
Goettsche also compares himself to co-defendant Joby Weeks, whose release terms are far less severe.
Joby Weeks is presently subject to a curfew with the approval of Pretrial Services and without opposition from the government.
He may visit family events, family gatherings, religious services, and family dwellings in Colorado provided he is escorted by a third-party custodian and notifies Pretrial Services in advance.
The key distinction between Weeks and Goettshche is, of course, Weeks’ guilty plea. Additionally, he has access to far fewer financial resources than Goettsche.
Goettsche asserts that the planned alterations will
I to improve Mr. Goettsche’s capacity to prepare his defense at trial by facilitating his access to relevant information;
(ii) to alleviate the enormous hardship put on Mr. Goettsche’s third-party guardians, who must be in his constant presence despite his electronic monitoring bracelet;
(iii) to provide his children with a fair degree of normalcy; and
(iv) to give Mr. Goettsche cash and assets to cover his family’s living needs and attorney’s fees and costs.
The absence of a trial date for Goettsche is due to two factors: COVID-19 delays and the magnitude of the evidence against him.
The volume of discoveries is enormous, and it is anticipated that a large amount of more discoveries will be forthcoming.
Goettsche poses a flight risk so long as he intends to contest his case, in my opinion. Goettsche should not be denied the ability to defend himself in court, but BitClub Network was a $722 million Ponzi fraud. This is not a milk bar heist.
Three BitClub Network defendants, including Weeks, have pled guilty. Their sentencing is slated for March 2023.
Russ Medlin, Goettsche’s accomplice, and fourth co-defendant is holed up in Indonesia on child sex accusations.
In all likelihood, Goettsche will not triumph in court. BitClub Network lacked any ambiguity; it was a normal Ponzi scheme with a crypto-mining concept.
Goettsche is expected to be convicted and sentenced to a substantial jail term, regardless of how long it takes.
As long as this is anticipated, he is a flight risk.
In this scenario, Mr. Goettsche would be able to remain at home while his wife handles her parental duties and runs errands without needing to bring in a third-party nanny.
The fact that Goettsche’s family has been drawn into the aftermath of his fraud is not the court’s nor the DOJ’s problem.
Pretrial Services and the Department of Justice oppose Goettsche’s sought motions. At the time of writing, neither side had submitted a response.
The motion filed by Goettsche will be heard on October 5th.
Update 27 October 2022: I do not have any new information on Goettsche’s request, but according to a filed joint application, his trial has been postponed until January 13, 2023.
The delay is attributed to “voluminous discovery” and a probable settlement (plea agreement).
Jojar Dhinsa & CashFX Group – Crook Review
Jojar Dhinsa has officially denied using the CashFX Group Ponzi scheme to defraud individuals.
Dhinsa appeared on NTV Unscripted on August 19th, according to Harry Page of the Facebook group “CashFX (in connection with EverFX) Scam – Now What!?”
NTV bills itself as “Bangladesh’s top TV channel.” It is televised locally throughout the United Kingdom and Europe.
Rather of admitting to promoting a Ponzi scheme for profit, Dhinsa claims he never cheated anyone.
They’ve basically made stuff up about getting jailed for fraud or defrauding others, according to web reports.
I wish I had scammed folks so there would be some evidence.
Unfortunately for Dhinsa, finding the proof he says does not exist is not difficult.
Dhinsa went on to talk about defrauding individuals through CashFX Group after denying he had defrauded anyone.
I became acquainted with CashFX, a cryptocurrency multi-marketing firm, two years ago (Group).
I did some research. I felt I was assisting them, and I did assist them. I made some money but didn’t get involved all that much.
In retrospect, I should not have gotten engaged. I do not support them. I don’t recommend that folks look at them.
However, conduct your own research. Conduct your own research. And I finished my… a bit of a haphazard approach Which is not typical of me.
Dhinsa refuses to accept his victims or the fact that CashFX Group is a Ponzi scheme in which the only way to gain money is to defraud others.
Dhinsa sung a drastically different song when he joined CashFX Group in 2020 and was particularly challenged about his due-diligence into the Ponzi scam;
So the first thing that everyone does, including myself, is go online and Google it, and there was a lot of information on CFX. This, that, and the other fraud alert(s).
But then you have to take a step back and assess who is saying those things. Right?
Wrong. Your MLM due diligence on CashFX Group begins and finishes with “this is a Ponzi scam with fraud alarms from all around the world.”
It makes no difference who tells you this since you can independently check and corroborate the information.
But, of course, this was before Dhina discovered there was money to be stolen.
And they read the comments, and there were people saying, you know, it’s a scam, it’s this, it’s a Ponzi scheme, it’s a pyramid system.
Surprise, surprise, every organization on the earth, including mine, is a pyramid.
This is a classic diversion tactic used by pyramid scheme scammers. It is often built on a CEO sitting at the top of a diagram of management and staff in the shape of a pyramid.
I’m at the top. I have a Board of Directors, a management team, HR, a Head of Department, salesmen, and sales representatives. As a result, every institution, including the Royal Family and the British Army, is a pyramid system. So that’s not a problem.
The parallel fails because the movement of money inside a pyramid scheme, as well as the manner in which the money is created, is what makes it unlawful.
Nothing is offered or sold to retail customers by CashFX Group. Thus, CashFX Group’s MLM side acts very much like a pyramid scam (commissions are paid on new investor recruitment, which are sent upline to recruiters and the company’s owners).
The question I asked myself was, “Is it a Ponzi scheme?” and, “How do I know it’s not a Ponzi scheme?”
Because I read that it’s a Ponzi scam. You don’t make money from Ponzi schemes, and blah yada yada.
So I read the reviews. I distributed it internally to my team for review. Then I decided to contact someone in Panama, most likely from one of Panama’s wealthiest families.
“Would you mind coming to the offices for me and taking some shots of everything?” I asked Niko.
And he went… He made new friends there. “Look, they’re redoing the offices,” he added… “Fine, thank you very much,” I said.
We examined the system’s back end, the CRM system. It appears to be OK.
Dhinsa claims he sought “everyone” who approached him about his CashFX Group involvement for proof that CashFX Group was a Ponzi scam.
In July 2019, BehindMLM presented proof that CashFX Group was a Ponzi scam.
Dhinsa makes no mention of this evidence or why he overlooked it. Likewise, CashFX has gotten several securities fraud alerts from regulators all around the world by that point.
Because my reputation is very important to me.
Dhinsa ruined his reputation by joining, promoting, and eventually benefitting from CashFX Group.
Dhinsa’s advertising of CashFX Group was very shady. Dhina targeted the homeless in the UK, stating that by hiring them for CashFX Group, he would “affect 1 million lives.”
Dhinsa’s Ponzi marketing legacy was followed by other CashFX Group crooks.
I’m not sure when Dhinsa quit CashFX Group. When the money ran out, he slunk away silently.
In early 2020, CashFX Group began postponing withdrawal payments. Delays continued for the following year and a half, eventually leading to CashFX Group suspending withdrawals in late 2021.
BehindMLM identifies this as the demise of CashFX Group.
Huascar Lopez, CashFX Group’s founder and CEO, will leave the Dominican Republic in late 2021. What began as a vacation to Italy has now revealed itself to be the beginnings of an exit-scam.
Lopez has not been seen in public for some months. His present whereabouts and condition are unknown.
BitClub Network – Crook Review Part 2
Jobadiah Weeks, Silviu Balaci, and Joe Abel of the BitClub Network are slated to be sentenced in March 2023.
The following sentences were postponed for the trio on August 12th:
Jobadiah Sinclair Weeks is scheduled to be sentenced on March 14, 2023.
Silviu Catalin Balaci will be punished on March 16, 2023, and Joseph Frank Abel on March 21, 2023.
All three are anticipated, but not assured, to serve time in jail.
For the time being, BitClub Network defendant Matt Goettsche is defending the criminal allegations leveled against him. His lawsuit has been adjourned until October 2022.
Russ Medlin, the defendant, is imprisoned in Indonesia for child sex offences.
In related news, Weeks (right) filed on August 8th to have his house confinement converted to curfew.
We sincerely request that Mr. Weeks’ bail restrictions be changed from home confinement to a curfew in order for him to attend family events and visit family-owned properties in Colorado.
The Pretrial Services Officer has advised us that they are open to this revision in light of Mr. Weeks’ general compliance with his release restrictions.
The United States defers to Pretrial Service’s viewpoint, as represented by Assistant United States Attorney Anthony Torntore.
Weeks first believed he could pull a fast one while under custody. Weeks seemed to have accepted his fate and settled down, according to PreTrial Services’ evaluation.
On August 15th, Weeks’ application for a curfew adjustment was approved.
Eric Dalius & Saivian & SEC- Crook Review
Eric J. Dalius secured an agreement with the SEC over Saivian securities fraud.
The news comes after the Saivian defendants reopened discussions with the SEC in June.
According to a Joint Stipulation filed on August 9th;
On August 5, 2022, the Parties held a telephone settlement conference… during which the SEC and the Defendants other than Defendant Ryan Morgan Evans reached an agreement in principle.
Other defendants in the SEC’s Saivian Ponzi case besides Ryan Evans include Eric J. Dalius, Professional Realty Enterprises, Inc., Saivian LLC, Savings Network App LLC, and Realty Share Network LLC.
Details about Dalius’ Saivian colony are likely to be released in the coming months.
In 2015, BehindMLM recognized Saivian as a Ponzi scam. In 2018, the SEC launched a lawsuit against Saivian, alleging that Dalius and Evans conducted a $165 million Ponzi scheme.
While Saivian’s demise signaled the end of Dalius’ Ponzi scheme, Evans doubled down on Elamant.
Elamant is essentially a Saivian clone targeted especially towards African investors.
Despite facing a $100 million securities fraud case in the United States, Morgan continues to perpetrate securities fraud through Elamant.
So yet, US officials have not pursued Morgan for continuing to scam people with Elamant. It remains to be seen if this will alter.
According to SimilarWeb traffic statistics for Elamant’s website, investor recruiting has ceased.
In the event that Ryan Evans does not reach an agreement with the SEC, his Saivian securities fraud trial has been rescheduled for June 6th, 2023.
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