John DeMarr’s Bitcoiin fraud indictment details


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

  1. Conspiracy to commit securities fraud;
  2. Securities fraud;
  3. Conspiracy to commit wire fraud; and
  4. Conspiracy to commit money laundering.

The indictment links DeMarr to

  1. operation of Start Options via communication with other executive co-conspirators;
  2. operation of Bitcoiin via direction of false press-releases related to Dragon Mining;
  3. overseeing plagiarized content published as Bitcoiin’s whitepaper;
  4. creating the fictional identity “John Williams” and representing he was running Bitcoiin and authored its whitepaper;
  5. directly soliciting investment into Bitcoiin; and
  6. 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.