Goettsche struggling with pre-trial conditions after $722M Ponzi

Matthew Goettsche was a key figure behind
BitClub Network
, a $722 million dollar Ponzi scheme.

Following
Goettsche’s arrest
in 2019 he pled not guilty. Goettsche was deemed a flight risk though and ordered into custody.

Following
failed plea agreement negotiations
, Goettsche appealed his detention and a
$20 million bond was set
in December 2020.

Goettsche satisfied his bail amount and was released to home incarceration.

Almost two years on and Goettsche is struggling with his release conditions. With
tens of millions in ill-gotten gains still in play
, Goettsche has asked a court for freedom.

cue world’s smallest violin orchestra

Facing the consequences of his actions isn’t just impacting Goettsche. He is required to be in the presence of a third-party custodian at all times, which he clams is “immensely burdensome”.

Mr. Goettsche’s wife, mother, and mother-in-law … have daily coordination of schedules to be home with Mr. Goettsche.

Also “burdensome” is Goettsche not being able to use the internet, computers or live of rental income.

On September 21st Goettsche filed a motion, requesting his release conditions be changed to:

curfew between 6pm to 8am;

only requiring a third-party custodian if he leaves his residence (restricted to Colorado);

full access to internet and computers, on the proviso Goettsche doesn’t access or transfer cryptocurrency; and

the release of rental income, currently held in escrow

Goettsche cites the effective measures in place to deter him from fleeing, and the fact that he hasn’t fleed, as reasons to relax said effective measures.

Mr. Goettsche has been out on pretrial release without incident for over twenty months under significant and highly restrictive conditions based on the Government’s concerns of risk of flight that have been proven to be unfounded.

Goettsche insists that, irrespective of what restrictions the court places on him, he could flee at any time if he chose to.

Time has proven that the government was flatly wrong that no bail conditions would reasonably ensure Mr. Goettsche’s appearance.

Mr. Goettsche has neither fled nor violated a single bail condition or modification. Indeed, over these twenty months on release, the concerns the government articulated throughout the detention, bail, and appeal process have proven to be without merit.

Goettsche also compares himself to co-defendant Joby Weeks’, who far less restrictive release conditions.

Co-Defendant Joby Weeks is currently on curfew with the consent of Pretrial Services and no objection from the government.

He is permitted to go to family events, family gatherings, religious services, and family residences within Colorado, provided he is accompanied by a third-party custodian and provides advance notice to Pretrial Services.

The primary difference between Weeks and Goettshche is, of course,
Weeks has pled guilty
. He also doesn’t have access to anywhere near the amount of financial resources Goettsche does.

Goetts

🤖 Quick Answer

Who is Matthew Goettsche and what was his role in BitClub Network?

What were the conditions of Goettsche's release?
After failed plea negotiations, a $20 million bond was set in December 2020. Goettsche satisfied the bail amount and was released to home incarceration, requiring him to remain in the presence of a third-party custodian at all times.

What difficulties has Goettsche faced following his release?
Nearly two years into his release, Goettsche has struggled with pre-trial conditions and sought court relief. With tens of millions in

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