Romanian Programmer Admits Conspiring to Create $722M Bitclub Ponzi Scheme | Bitcoin News
A Romanian man admitted Thursday to conspiring to engage in wire fraud and selling unregistered securities linked to Bitclub Network, a cryptocurrency mining Ponzi scheme worth at least $722 million.
Silviu Catalin Balaci, 35, a Romanian citizen appeared before U.S. District Judge Claire C. Cecchi. Balaci pleaded guilty to a superseding information charging him with one count of a dual-object conspiracy to commit wire fraud and to offer and sell unregistered securities.
