John DeMarr’s Bitcoiin indictment was filed on March 23rd, 2021.
The indictment details four counts of fraud, pertaining to DeMarr’s involvement in Bitcoiin and Start Options.
As charged by a Grand Jury in New York, DeMarr has been indicted for
- Conspiracy to commit securities fraud;
- Securities fraud;
- Conspiracy to commit wire fraud; and
- Conspiracy to commit money laundering.
The indictment links DeMarr to
- operation of Start Options via communication with other executive co-conspirators;
- operation of Bitcoiin via direction of false press-releases related to Dragon Mining;
- overseeing plagiarized content published as Bitcoiin’s whitepaper;
- creating the fictional identity “John Williams” and representing he was running Bitcoiin and authored its whitepaper;
- directly soliciting investment into Bitcoiin; and
- authoring a statement sent to investors, falsely claiming he was missing and to stop contacting him regarding their Bitcoiin losses.
Included is a criminal forfeiture allegation for a property in Seal Beach, California.
Satellite imaging of the address reveals a residential property furnished with a backyard pool and spa.
On April 14th DeMarr entered a not guilty plea on all four counts. An initial conference has been scheduled for May 14th.
Update 3rd August 2021 – DeMarr has plead guilty to one count of conspiracy to commit securities fraud.
He is scheduled to be sentenced on January 4th, 2022.