RATE Group | Man charged in cryptocurrency fraud owns Montana operation | National News
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Man charged in cryptocurrency fraud owns Montana operation | National News

15 Dec Man charged in cryptocurrency fraud owns Montana operation | National News

Posted at 05:37h in Cryptocurrency News by

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BUTTE, Mont. (AP) — A Colorado man facing federal charges for defrauding investors of $722 million in a cryptocurrency investment club has majority ownership in a bitcoin mining operation in Montana, The Montana Standard reports.

Rick Tabish of Butte and his company, FX Solutions, operates CryptoWatt LLC on behalf of Matthew Brent Goettsche of Lafayette, Colorado, and others.

He told the newspaper Thursday he was “blindsided” by Goettsche’s arrest and indictment.

Court records do not indicate the charges have anything to do with the Butte operation.

Federal charges have been filed against Goettsche and four others who operated the BitClub Network, “a worldwide fraud scheme that solicited money from investors in exchange for shares of pooled investment in cryptocurrency mining.” The scheme rewarded existing members for recruiting new investors, which a prosecutor called a modern, high-tech Ponzi scheme.

The others charged include Jobadiah…

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