CRYPTO WARNING: FBI arrests three men accused of running a $722 million cryptocurrency fraud scheme that allegedly defrauded thousands of “investors”
12/10/2019 // Mike Adams // Views

For several years, I've repeatedly warned people to steer clear of crypto schemes. The crypto space seems to attract some of the most unscrupulous promoters, and people who are looking for quick gains often get suckered into costly arrangements that may not be legit.

Now, an FBI investigation has led to the DOJ arrest and indictment of three Americans who stand accused of running a $722 million crypto scheme. According to a DOJ press release announcing the investigation, the three men "are charged by indictment with conspiracy to offer and sell unregistered securities."

Their website, found at, promised an "innovative and lucrative way to earn Bitcoin."

There are reportedly two other individuals, yet to be named, who are also facing criminal charges from the DOJ related to this alleged "scheme." They just haven't been found yet, it seems.

All individuals must be presumed innocent until proven guilty, of course, and the FBI has clearly been shown to be a criminal organization itself in the last few years, so it's difficult to know the real story here until more facts emerge. From the DOJ press release:

“The indictment describes the defendants’ use of the complex world of cryptocurrency to take advantage of unsuspecting investors,” U.S. Attorney Carpenito said. “What they allegedly did amounts to little more than a modern, high-tech Ponzi scheme that defrauded victims of hundreds of millions of dollars. Working with our law enforcement partners here and across the country, we will ensure that these scammers are held to account for their crimes.”


There's a far more dangerous Ponzi scheme operating in America, and it's run by the Federal Reserve

What about the far larger Ponzi scheme known as the Federal Reserve, by the way? The Fed counterfeits money all the time, generating illicit assets for its wealthy friends while simultaneously eroding the value of the dollars earned by hardworking Americans. If there was a Ponzi scheme to take down anywhere, it would be the Fed, right? Not in America. The intelligence community focuses on those who threaten the money monopoly of the Fed.

That's not to say these three men didn't do something wrong and mislead investors, allegedly, but if you want to talk about misleading financial schemes, how about we have a serious discussion about the insolvency of social security? Or the endless debt schemes of the U.S. Treasury working in cahoots with the Fed? How about the fact that Joe Biden and other prominent politicians are skimming kickbacks off billions of dollars in foreign aid via Ukraine / Burisma?

Yes, there are financial crooks in America, and most of them work in Washington D.C.

From the DOJ press release:

“Those arrested today are accused of deploying elaborate tactics to lure thousands of victims with promises of large returns on their investments in a bitcoin mining pool, an advanced method of profiting on cryptocurrency,” Paul Delacourt, the Assistant Director in Charge of the FBI’s Los Angeles Field Office said. “The defendants allegedly made hundreds of millions of dollars by continuing to recruit new investors over several years while spending victims' money lavishly.”

Doesn't that sound like the way Joe Biden runs things? Or John Kerry? Or John McCain? Or Hillary Clinton and the Clinton Foundation? Apparently there are people in America who are above the law, and they're the political elite who have somehow achieved the status of being "untouchable" by law enforcement and the DOJ.

We now live in a nation where the biggest, most vile criminals of all are the very people running the system.

None of these guys put a gun to your head and picked your pocket, but the Fed does that every day

I'm not defending the BitClub Network, which the DOJ says was a fraudulent scheme that defrauded investors. Perhaps it was, but none of us were forced to participate in that alleged fraud. Yet we are all forced to participate in the far greater fraud of the U.S. dollar, federal debt spending, Social Security and the like. And we will all suffer when the dollar collapses in the biggest Ponzi catastrophe of all time, once that day arrives. Who will go to jail then? No one, of course.

The federal government steals from us at gunpoint. (If you don't believe me, just try NOT paying federal taxes, state taxes and property taxes. Sooner or later, government men will point guns at you and confiscate everything you own.) In contrast, the three guys arrested in the BitClub Network scheme had to have your consent. If you were stupid enough to hand your money over to a group of guys claiming the run a get-rich-quick cryptocurrency mining pool, you can only blame yourself. Anyone offering 100+% returns in such schemes is probably making s##t up.

The Fed's Ponzi scheme, by the way, has been running since 1913, meaning it has been operating for over a century. And the Treasury debt scheme is promoted with all the same kind of lies the DOJ now says the BitClub Network relied on to fraudulently promote its fake profits. From the press release:

For example, in February 2015, Goettsche directed another conspirator to “bump up the daily mining earnings starting today by 60%,” to which his conspirator warned “that is not sustainable, that is ponzi teritori [sic] and fast cash-out ponzi . . . but sure.” In September 2017, Goettsche sent an email to another conspirator in which he suggested that Bitclub Network “[d]rop mining earnings significantly starting now” so that he could “retire RAF!!! (rich as f-ck).” Weeks sent an email in June 2017 to Goettsche and another conspirator in which he remarked that BitClub selling shares in BitClub and then not using the money to purchase mining equipment was “not right.” Goettsche, Weeks, and others obtained the equivalent of at least $722 million from BitClub Network investors.

What you see in this passage is that Weeks was actually trying to tell the other partners that they weren't being honest, yet we never hear anyone in the Federal Reserve express any desire whatsoever to tell the truth about their grand Ponzi con that steals wealth from every American citizen, during every hour of the day (through monetary debasement and the endless printing of new money). It seems to me that Jobadiah Weeks, who stands accused of multiple counts of fraud, may be far more honest than the people running the U.S. money supply.

In any case, these three individuals (perhaps increasing to five when two more are arrested) are each facing up to 25 years in prison and a $500,000 fine. Meanwhile, Hillary Clinton goes free for accepting hundreds of millions of dollars in international bribes, destroying evidence under subpoena, obstructing justice and even being involved in the long trail of body bags that seem to magically appear behind the Clintons no matter where they go in the world.

Oh yeah, and Jeffrey Epstein didn't kill himself.

If only the FBI and DOJ would investigate the real criminals in society, we might have something to applaud them for. But alas, that would involve the deep state investigating the deep state itself, an event that will never occur without a total collapse and reboot of the whole system of government.

The bottom line? If you mess with crypto, the powers that be will probably find a way to indict you and throw you in prison. After all, they've got to protect the (increasingly worthless) dollar, for without the dollar, they have no way to create money out of thin air and use it to stuff their own pocket and pay off their political allies. It's all a scam, folks, it's just that the biggest financial scam of all is protected by the deep state itself.

The thing is, "Matthew Brent Goettsche, 37, of Lafayette, Colorado, and Jobadiah Sinclair Weeks, 38, of Arvada, Colorado and Joseph Frank Abel, 49, of Camarillo, California" never stole anything from me, but the Fed steals from me (and you) every waking hour of every day. So who's the real criminal at work in all this?

Want to avoid being conned? Don't hold dollars

The only way to avoid being scammed by the Fed is to take your cash and trade it for something that holds value, like gold or land. Every day that you hold onto a dollar is a day you're being looted by the Federal Reserve and the U.S. Treasury. As the following chart shows, the U.S. dollar has lost over 98% of its value since 1913, all due to the looting of the dollar by the Federal Reserve. This is intentional, deliberate theft.

But guess what has held its purchasing power? Gold, of course. In fact, gold has skyrocketed against the dollar:

Now, when cryptocurrency people tell you that Bitcoin is "digital gold," they're just scamming you. The only gold that counts is physical gold, and as Steve Quayle correctly says, "If you can't touch it, you don't own it."

Cryptocurrency isn't real. You can't touch it, so you don't own it. And as the DOJ now claims, you might just be participating in some massive fraud scheme anyway. So be careful.

Read for more reporting on the pitfalls of cryptocurrency, or for reporting on the national debt and the eventual collapse of the dollar.

Mike Adams (aka the "Health Ranger") is the founding editor of, a best selling author (#1 best selling science book on called "Food Forensics"), an environmental scientist, a patent holder for a cesium radioactive isotope elimination invention, a multiple award winner for outstanding journalism, a science news publisher and influential commentator on topics ranging from science and medicine to culture and politics.

Mike Adams also serves as the lab science director of an internationally accredited (ISO 17025) analytical laboratory known as CWC Labs. There, he was awarded a Certificate of Excellence for achieving extremely high accuracy in the analysis of toxic elements in unknown water samples using ICP-MS instrumentation.

In his laboratory research, Adams has made numerous food safety breakthroughs such as revealing rice protein products imported from Asia to be contaminated with toxic heavy metals like lead, cadmium and tungsten. Adams was the first food science researcher to document high levels of tungsten in superfoods. He also discovered over 11 ppm lead in imported mangosteen powder, and led an industry-wide voluntary agreement to limit heavy metals in rice protein products.

Adams has also helped defend the rights of home gardeners and protect the medical freedom rights of parents. Adams is widely recognized to have made a remarkable global impact on issues like GMOs, vaccines, nutrition therapies, human consciousness.

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