John Michael Golden, Wire Fraud, Alabama 2024

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Wire Fraud Scheme Exposed: Pell City Man Sentenced to 71 Months in Prison

BIRMINGHAM, Ala – A Pell City man, John Michael Golden, has been sentenced to 71 months in prison for his role in a scheme to defraud over 40 investors out of more than $4.7 million.

According to the plea agreement and information provided at sentencing, Golden was the founder and owner of Wolf-Tek, LLC; MountainTop Timber, LLC; and DroneTek, Inc. Between January 2018 and at least October 2023, Golden devised a scheme to persuade individuals to invest in his companies.

Golden made various misrepresentations to the investors, including telling them his businesses were about to be sold for millions of dollars to companies such as Amazon, he had timber leases and an ability to harvest timber for profit, and he had hundreds of pre-orders for drones that he simply needed capital to fulfill.

Golden also gave some investors Promissory Notes in which he falsely promised lucrative returns on investments within a short period of time. Golden even defrauded a new victim eight days after originally signing a plea agreement.

To continue his scheme, Golden placated victims by sending them text messages falsely claiming that their money was available and would arrive on specific future dates.

Grimy Times has learned that Golden’s bond was revoked for contacting victims and making false promises to them regarding repayment. Golden ultimately defrauded investors in his companies out of more than $4.7 million. He used the funds to pay back prior investors and for personal expenses.

Chief U.S. District Court Judge R. David Proctor handed down the sentence. The Federal Bureau of Investigation investigated the case, with assistance from the Alabama Securities Commission. Assistant United States Attorney Ryan Rummage prosecuted the case.

Grimy Times will continue to follow this story and provide updates as more information becomes available.