Dwayne Golden, Partner at Multiple Fraudulent Crypto Firms, Sentenced to 8 Years in Prison After Scamming $40 Million

PANews reported on June 28 that according to The block, according to a news release from the U.S. Department of Justice, Dwayne Golden, a 57-year-old man from Pennsylvania, was sentenced to 97 months (about 8 years) in prison for participating in the operation of fraudulent cryptocurrency companies EmpowerCoin, ECoinPlus and Jet-Coin, and handed over about $2.46 million in illegally acquired assets. Dwayne Golden and his accomplices defrauded investors of $40 million through a "Ponzi scheme" and then obstructed a federal investigation. Dwayne Golden was first charged with fraud, money laundering and other financial crimes in March 2022.