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Ponzi scheme: Coronavirus Worries Aren't Going to get the BitClub Operators out of jail

 
Ponzi scheme: Coronavirus Worries Aren't Going to get the BitClub Operators out of jail
Exchanges / Breaking News / Crypto Market
  • A federal prosecutor for New Jersey is fighting the request of two cryptocurrency operators to be released from a county jail during the coronavirus pandemic
  • The two scammers in question operated a Ponzi scheme and because of the coronavirus outbreak, they are concerned about their health if it outbreaks in the jail.

A federal prosecutor for New Jersey, Craig Carpenito is fighting the request of two alleged cryptocurrency operators to be released from a county jail during the coronavirus pandemic.

The two scammers in question operated a Ponzi scheme and because of the coronavirus outbreak, they are concerned about their health if it outbreaks in the jail. According to documents from the court file with the United States Department of Justice earlier this week on the 24th of March, Carpenito asserted that the recently enacted bail reform only preferences pre-trial release of a defendant when their appearance at the trial could be assured to a reasonable level.

The prosecutor further noted that the outbreak of coronavirus has sparked a national conversation in regards to whether inmates accused of non-violent crimes should be released. This is in order to reduce the risk of the disease spreading at a rapid rate across jails in the country.

Despite this, he emphasised that the inmates in question, Matthew Goettsche and Jobadiah Weeks are both accused of the BitClub Cryptocurrency Ponzi scheme and have extremely strong incentives to flee the jail. More than $700 million was involved in a Ponzi scheme for those that don’t know.

"The facts that compelled their detention have not changed — they maintain, among other things, unaccounted for wealth, overseas contacts, and strong incentives to flee. Although the pandemic has curtailed international commercial air travel, there remain numerous flights out of the country."

It will be interesting to see how this situation plays out. For more news on this, the bitcoin price and other crypto updates, keep it with CryptoDaily!

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