Man Gets 97 Months in Prison for Running a $40M Crypto Ponzi Scheme

Man gets 97 months in prison for running a $40M crypto Ponzi scheme

Brooklyn federal court sentenced Dwayne Golden to 97 months for running a $40 million Ponzi scheme dressed up as a digital asset investment empire. He duped investors with flashy promises and zero actual trading. He ran a full-blown crypto con that spanned five years and three companies. The scammer ran a trio of crypto ventures, EmpowerCoin, ECoinPlus, and Jet-Coin. Each company promised fixed and guaranteed returns to investors from cutting-ed…

Crypto Ponzi Mastermind Sentenced to 8 Years Over $40M Fraud

Golden, 57, ran EmpowerCoin, ECoinPlus, and Jet-Coin—three sham companies that promised guaranteed profits from crypto trading. Prosecutors revealed there was never any trading activity; instead, the funds were used to repay earlier investors or personally enrich the scheme’s organizers, fitting the classic mold of a Ponzi operation. The scam ran for just four months in 2017, but its impact was long-lasting. When the firms abruptly shut down, in…

Federal Court Sentences Crypto Ponzi Scheme Operator to Nearly Eight Years

Cointelegraph reports that Dwayne Golden, 57, received a 97-month federal prison sentence on Friday for operating cryptocurrency Ponzi schemes through EmpowerCoin, ECoinPlus, and Jet-Coin. The Brooklyn federal judge convicted Golden of wire fraud and money laundering after his companies defrauded investors of over $40 million between April and August 2017.Golden and his partners promised guaranteed returns from crypto trading that never occurred…

Brooklyn judge sends Ponzi crypto scammer to prison for 8 years

Brooklyn federal court sentenced Dwayne Golden to 97 months for running a $40 million Ponzi scheme dressed up as a digital asset investment empire.

Cryptocurrency Ponzi Scheme Mastermind Receives Devastating Eight-Year Prison Sentence

BitcoinWorld Cryptocurrency Ponzi Scheme Mastermind Receives Devastating Eight-Year Prison Sentence The cryptocurrency world, often lauded for its innovation and decentralization, sometimes casts a long shadow with tales of deceit and betrayal. A recent landmark ruling serves as a stark reminder of these risks, as Dwayne Golden, a central figure behind the infamous Cryptocurrency Ponzi Scheme known as EmpowerCoin, has been handed an eight-year p…