Home » Romanian Programmer Pleads Guilty in $722 Million Fraud Case

Romanian Programmer Pleads Guilty in $722 Million Fraud Case

Romanian programmer Silviu Balaci has pleaded guilty in creating the BitClub Network, a crypto mining scam that defrauded $722 million from investors.
news - Romanian Programmer Pleads Guilty in $722 Million Fraud Case

Romanian programmer Silviu Balaci has pleaded guilty in creating the BitClub Network, a crypto mining scam that defrauded $722 million from investors. 

Balaci was one of the key runner of the BitClub Network that defrauded $722 million from its investors in an elaborate crypto mining scam.

news - Romanian Programmer Pleads Guilty in $722 Million Fraud Case

He was responsible for handling the company’s technical aspect, with fellow defendants Matthew Goettsche and Russ Albert Medlin attending to marketing and other business matters. 

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Silviu Balaci programmer pleaded guilty in the US court three weeks after the other BitClub co-founder, Russ Albert Medlin, was arrested.  The Romanian programmer now faces five years in prison and a fine of $250,000. 

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