BitClub Network

2014-04-01

BitClub Network begins soliciting investors, offering purported bitcoin mining pool shares. Approximate launch date per indictment.

2014-10-01

Goettsche allegedly writes to Balaci that mining earnings 'need to look real,' indicating fabrication of returns from near the outset.

2015-01-01

Goettsche allegedly tells Balaci 'We are building this whole model on the backs of idiots,' referring to investors as 'sheep.'

2015-02-01

Goettsche allegedly directs a colleague to 'bump up the daily mining earnings starting today by 60%'; colleague warns this is 'ponzi territory.'

2019-12-05

Federal grand jury in the District of New Jersey indicts Matthew Brent Goettsche, Jobadiah Sinclair Weeks, Joseph Frank Abel, Silviu Catalin Balaci, and Russ Albert Medlin. Three US-based defendants arrested; two remain at large.

2019-12-01

BitClub Network operations cease following the indictments.

2020-06-15

Russ Albert Medlin, an FBI fugitive since the December 2019 indictment, is arrested by Jakarta police in Indonesia on alleged child sexual assault charges.

2020-07-09

Silviu Catalin Balaci pleads guilty to conspiracy to commit wire fraud and to offer and sell unregistered securities on the same day a superseding indictment is filed.

2020-11-05

Jobadiah Sinclair Weeks pleads guilty to tax evasion and conspiracy to sell unregistered securities.

2021-01-01

Joseph Frank Abel pleads guilty to conspiracy to offer and sell unregistered securities and subscribing to a false tax return.

2022-03-01

Gordon Brad Beckstead, former CPA and BitClub investor, pleads guilty to conspiracy to commit money laundering and aiding preparation of false tax returns. Admits to directing over $50 million in transfers to conceal Goettsche's income.

2025-02-21

Jobadiah Weeks files a motion to withdraw his guilty plea.

2025-12-01

Plea negotiations between Goettsche and the DOJ collapse. Both parties request the court schedule a trial date; Goettsche requests June 2026, the DOJ requests November 2026.

2026-04-01

As of April 2026: Joby Weeks scheduled for sentencing June 24, 2026; Balaci scheduled October 7, 2026; Goettsche trial date pending; Beckstead and Abel have no confirmed sentencing dates.