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 acquired 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 position Beckstead claims to have
- audited over 100 publicly traded corporations
- labored on SEC guidelines and regulation compliance; and
- designed and applied accounting methods, concentrating 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 Data Methods Auditor (CISA), is Licensed in Threat and Data 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?
Considered one of Beckstead’s purchasers was BitClub Community co-founder Matt Goettsche (proper).
That relationship ultimately led to Beckstead turning into a BitClub Community investor. Alongside the best way the German shell firm “Bitchain GmbH” was created.
As they are saying, the remaining is historical past.
BECKSTEAD was related to numerous company entities managed by Goettsche, a few of which had been used to keep up 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 revenue and possession of belongings.
Goettsche, BECKSTEAD, and others used the Goettsche Entities to protect Goettsche from any affiliation with BCN and to disguise revenue derived by Goettsche by way of his operation of BCN.
BECKSTEAD directed and approved transfers exceeding $50 million to and from the Entity Accounts.
Making use of his accounting background, Beckstead additionally assisted Goettsche with submitting not less than one fraudulent return.
A cited 2017 return omitted $16 million in BitClub Community earnings, seeing Goettsche dodge a $5 million tax invoice that 12 months.
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 positive of $500,000, or twice the worth of the property concerned within the transaction, whichever is larger.
The tax cost to which Beckstead pleaded responsible carries a most penalty of three years in jail and a positive 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 consequence of ongoing discussions with the DOJ, on March thirty first Goettsche’s legal case was continued until July thirty first.
Replace tenth August 2022 – There’s one thing unusual happening with Gordon Beckstead’s case docket.
I went searching for an replace on his sentencing as we speak, and located Beckstead is in a foreign country. I double checked the case quantity, that’s not the problem.
Beckstead’s docket displays a July eleventh order granting him permission
to journey internationally from Las Vegas, Nevada (the place the defendant at the moment resides) to the international locations of England and Scotland, departing
Sunday, August 7, 2022 and returning to Las Vegas, Nevada on Tuesday, August 16, 2022,
The rationale for Beckstead leaving the nation isn’t supplied (I’m assuming it’s a private matter).
Apparently there was a joint utility filed previous the order, nevertheless it’s not recorded on the case docket. Nor are there any filings after Beckstead’s March responsible plea.
Clearly with Beckstead out of the US the scheduled August ninth sentencing hasn’t gone forward.
I’ll proceed to observe the docket for up to date however we would not get any information for some time if filings are lacking from Beckstead’s docket.