As per a chargesheet filed on March twenty fourth, Gordon Brad Beckstead helped BitClub Community scammers launder “thousands and thousands of {dollars}”.
Earlier than he bought into investing in Ponzi schemes and cash laundering, Beckstead, a resident of Nevada who professionally goes by Brad Beckstead, labored as a CPA.
In that function Beckstead claims to have
- audited over 100 publicly traded corporations
- labored on SEC guidelines and regulation compliance; and
- designed and applied accounting techniques, focusing on SEC compliance within the US.
Based mostly in Las Vegas, Nevada, Brad is a licensed CPA within the State of Nevada since 1995. He’s additionally a Licensed Info Methods Auditor (CISA), is Licensed in Threat and Info Methods Management (CRISC), and has achieved the AICPA’s certification in Worldwide Monetary Reporting Requirements (IFRS).
Brad’s audit agency, Beckstead & Firm, CPAs, is registered with the Public Firm Accounting Oversight Board (PCAOB), as a specialist within the audits of smaller public corporations and personal corporations anticipating registration with the US Securities and Alternate Fee.
So the place did all of it go improper?
One among Beckstead’s shoppers was BitClub Community co-founder Matt Goettsche (proper).
That relationship ultimately led to Beckstead changing into a BitClub Community investor. Alongside the way in which the German shell firm “Bitchain GmbH” was created.
As they are saying, the remainder is historical past.
BECKSTEAD was related to varied company entities managed by Goettsche, a few of which had been used to take care of accounts at banks.
Beckstead’s chargesheet cites seven cash laundering entities, one in all which is Bitchain GmbH, and 6 banks.
The Goettsche Entities had been “shell” corporations, missing any precise financial operate or enterprise operation and had been established to anonymize management of the financial institution accounts and to disguise and conceal the character, supply, and possession of Goettsche’s earnings and possession of property.
Goettsche, BECKSTEAD, and others used the Goettsche Entities to defend Goettsche from any affiliation with BCN and to disguise earnings derived by Goettsche by way of his operation of BCN.
BECKSTEAD directed and licensed transfers exceeding $50 million to and from the Entity Accounts.
Making use of his accounting background, Beckstead additionally assisted Goettsche with submitting at the least one fraudulent return.
A cited 2017 return omitted $16 million in BitClub Community earnings, seeing Goettsche dodge a $5 million tax invoice that yr.
In 2018 Beckstead assisted Goettsche with one other dodgy return, this time omitting $49 million in BitClub Community earnings.
The DOJ has charged Beckstead with
- cash laundering conspiracy;
- aiding within the preparation of a false tax return; and
- aiding within the preparation of a false tax return.
Beckstead was arrested on March twenty fourth. He waived prosecution by indictment and pled responsible to all three counts later that very same day.
Beckstead was launched on $100,000 bond, with a sentencing listening to scheduled for August ninth.
The cash laundering conspiracy cost to which Beckstead pleaded responsible carries a most penalty of 20 years in jail and a advantageous of $500,000, or twice the worth of the property concerned within the transaction, whichever is bigger.
The tax cost to which Beckstead pleaded responsible carries a most penalty of three years in jail and a advantageous of $100,000.
Matt Goettsche and his BitClub Community co-conspirators had been indicted in 2019.
In September 2020 Goettsche rejected a plea deal. It’s as of but unclear whether or not the conviction of his private accountant will change his tune.
As a result of ongoing discussions with the DOJ, on March thirty first Goettsche’s felony case was continued until July thirty first.
