Dwayne Golden, a partner in multiple fraudulent encryption companies, was sentenced to eight years in prison after defrauding $40 million
According to Theblock, according to information released by 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 and surrendered approximately $2.46 million in illicitly acquired assets for participating in the operation of fraudulent cryptocurrency companies EmpowerCoin, ECoinPlus and Jet-Coin. Dwayne Golden and his accomplices defrauded investors of $40 million through a "Ponzi scheme" and subsequently obstructed a federal investigation. Dwayne Golden was first charged with fraud, money laundering and other financial crimes in March 2022.
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