Crypto Ponzi Scheme Mastermind Gets 8 Years for $40M Investor Fraud—DOJ Confirms

Key Points

1. Dwayne Golden, along with Marquis Demacking Egerton and William White, operated fraudulent investment platforms like EmpowerCoin, ECoinPlus, and Jet-Coin, promising fixed profits but diverting funds for personal use.

2. Golden pleaded guilty to conspiracy to commit wire fraud and money laundering, and was ordered to forfeit roughly $2.46 million.

3. William White was previously sentenced to 30 months in prison, while Aggesen and Egerton have pleaded guilty and are awaiting sentencing.

4. The U.S. Attorney’s Office encouraged victims of the scam to submit restitution claims.

5. Crypto-related scams are growing, with over $2.1 billion lost in 2025, primarily due to compromised wallets and poor private key management.