Justice Served: Brooklyn Court Hands 97-Month Sentence for Crypto Ponzi Scheme

DOJ Sentences Crypto Scammer to Over 8 Years for $40M Ponzi Scheme

Dwayne Golden Receives 97-Month Prison Term in Brooklyn Federal Court

U.S. authorities have sentenced 57-year-old Dwayne Golden to 97 months in prison for orchestrating a crypto-based Ponzi scheme that defrauded investors of more than $40 million. The sentence was handed down on June 27 by Judge William F. Kuntz II in Brooklyn federal court after Golden pleaded guilty to conspiracy to commit wire fraud and money laundering.

• Key Players: Golden’s co-defendants—Gregory Aggesen, Marquis Egerton (“Mardy Eger”), and William White—helped operate fraudulent companies, including EmpowerCoin, ECoinPlus, and Jet-Coin.
• Ponzi Structure: The firms promised “guaranteed” returns from overseas crypto trading but operated as classic Ponzi schemes, using new investor funds to pay earlier participants or enrich themselves.
• Scheme Timeline: The scam ran from April to August 2017, ending with platform shutdowns and the disappearance of investor funds.

Efforts to Obstruct Justice and Additional Sentences

Golden and his associates attempted to obstruct federal investigations by destroying evidence and providing false information to authorities. Between 2017 and 2022, the group also conspired to hinder probes by the Federal Trade Commission and a federal grand jury.

• William White was sentenced to 30 months in prison.
• Aggesen and Egerton are awaiting sentencing.
• Golden was ordered to forfeit $2.46 million, with further restitution to be determined.

Broader DOJ Crackdown on Crypto Crime

Golden’s case adds to a recent wave of enforcement actions by the DOJ in June:

• The DOJ moved to seize over $225 million in crypto tied to pig butchering scams.
• A separate forfeiture action targeted $7.7 million linked to North Korean operatives.
• The DOJ also charged a Russian national for operating a $500 million crypto money laundering scheme.

Continued Vigilance Against Crypto Fraud

U.S. officials have emphasized their commitment to tackling crypto-related crime through international cooperation and advanced blockchain tracing. Victims of Golden’s scheme are being directed to submit restitution claims to the FBI as part of ongoing recovery efforts.