John DeMarr’s Bitcoiin fraud indictment details

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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.

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