According to Bloomberg, the U.S. Department of Justice plans to drop the criminal charges against BitClub Network founder Matthew Goettsche and close the case in a manner that prohibits any further prosecution (with prejudice). The final terms are still pending confirmation by both sides. Goettsche was indicted in 2019. Prosecutors alleged that between 2014 and 2019 he ran a cryptocurrency Ponzi scheme, raising approximately $722 million through a fake bitcoin mining business and a referral scheme. He is suspected of conspiring to commit wire fraud and selling unregistered securities. The case was originally scheduled to go to trial in October this year. The Department of Justice said the case has been ongoing for nearly 7 years and that it is currently seeking to recover some of the losses suffered by investors. The decision to withdraw the charges is not related to any lobbying efforts by his lawyer.