The US Justice Department plans to drop charges against Matthew Getchell in the BitClub Network case without the possibility of re-filing. This was reported by Bloomberg Law, citing two sources and court documents.
According to the agency, the office of the Deputy Attorney General has instructed the federal prosecutors in New Jersey to seek the dismissal of charges. The final terms are still being negotiated.
Getchell is involved in the BitClub case, which was initiated in 2019. He was accused of conspiracy to commit electronic fraud and selling unregistered securities.
The prosecution alleged that from 2014 to 2019, BitClub raised funds under the guise of investments in Bitcoin mining, promised returns, and incentivized participants for bringing in new investors. The prosecutors claimed that the project showed fictitious returns and caused investors a loss of $722 million.
After the charges were filed during Donald Trump's first administration, three co-defendants pleaded guilty. Getchell's case has been prolonged due to lengthy negotiations and the analysis of around 2 million electronic records. In February, the prosecution insisted on a jury trial, while in June, the defense requested to dismiss the case, citing a violation of the defendant's right to a speedy trial.
The trial for Getchell is set to begin in October.
According to Bloomberg, among those urging the Justice Department to drop charges against Getchell are attorney and former "Apprentice" contestant Bradford Cohen, as well as conservative activist Brett Tolman. Both were involved in teams that helped clients secure pardons from Trump. One source suggested that the defendant intentionally attracted lobbyists connected to the current administration.
Justice Department spokesperson Emily Covington stated that the department is reviewing cases that have been pending for more than a few years, noting that this case has been ongoing for eight years. Covington dismissed the notion that the decision was influenced by pressure from attorneys.
It is worth noting that after returning to the White House in January 2025, Trump pardoned Silk Road founder Ross Ulbricht and granted amnesty to former Binance CEO Changpeng Zhao. However, the president ruled out the possibility of pardoning FTX founder Sam Bankman-Fried, who is serving a 25-year sentence for fraud.