Crypto Scammer Gets 8 Years for $40M EmpowerCoin, ECoinPlus, Jet-Coin Fraud
Dwayne Golden, 57, received a 97-month prison sentence for his role in a crypto Ponzi scheme that defrauded investors of over $40 million through three firms: EmpowerCoin, ECoinPlus, and Jet-Coin. Convicted of wire fraud and money laundering, Golden and his partners falsely promised guaranteed returns from non-existent crypto trading. The scheme operated from April to August 2017, with funds diverted to pay earlier investors and enrich the conspirators. After the companies collapsed, Golden attempted to obstruct investigations by destroying evidence. He was ordered to forfeit approximately $2.46 million. Co-defendant William White received a 30-month sentence, while others await sentencing. The DOJ urged victims to submit restitution claims. In a related case, five men pleaded guilty to a $36.9 million crypto scam targeting Americans. In 2025, over $2.1 billion has been lost in crypto-related incidents.
