Three individuals, Dwayne Golden, Gregory Aggesen, and Marquis Demacking Egerton, have been arrested and charged with operating a sophisticated cryptocurrency scheme that defrauded investors of over $40 million.
The 11-count indictment, unsealed in federal court in Brooklyn, alleges that Golden, Aggesen, and Egerton conspired to commit wire fraud and money laundering, and related substantive counts, in connection with their scheme to steal assets from investors.
According to the indictment, the defendants operated a series of web-based virtual currency companies, including EmpowerCoin, ECoinPlus, and Jet-Coin, which promised investors guaranteed returns on virtual currency investments. However, the assets were used to repay other investors or simply stolen, including by Golden, Aggesen, and Egerton.
Golden maintained exclusive access to the Bitcoin and often siphoned Bitcoin funds off the top before paying any investors. The companies collapsed shortly after receiving the investors’ assets, without having engaged in trading activity.
Additionally, Golden, Aggesen, and William White were charged with conspiracy to obstruct justice, obstructing justice, and tampering with evidence. The defendants allegedly destroyed evidence and provided false information to the Federal Trade Commission and a federal grand jury investigation.
The charges in the indictment are allegations, and the defendants are presumed innocent unless and until proven guilty. If convicted, the defendants face up to 20 years in prison.
The scheme is believed to have taken place between April 2017 and August 2017, with the defendants receiving over $40 million from investors. The Federal Bureau of Investigation, New York Field Office, and the United States Attorney’s Office for the Eastern District of New York announced the arrests and charges.
The public is urged to be cautious when investing in cryptocurrency schemes, as the risks are high and the consequences of falling victim to a scam can be severe.
If you believe you have been a victim of this scheme, please visit www.iC3.gov and reference ‘EmpowerCoin,’ ‘ECoinPlus,’ or ‘Jet-Coin’ in your complaint.
The indictment and charges are a reminder of the importance of protecting oneself from cryptocurrency scams and the consequences of engaging in such activities.
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Key Facts
- State: New York
- Category: Cybercrime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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