Recent high-profile criminal cases related to cryptocurrency continue to draw attention. In the U.S., a man has been sentenced to 97 months in prison for his role in a cryptocurrency fraud scheme.
Sentencing and Charges
57-year-old Dwayne Golden was sentenced on June 27 by U.S. District Judge William F. Kuntz II in Brooklyn. Golden pleaded guilty in September 2024 to conspiracy to commit wire fraud and money laundering.
Fraudulent Schemes
Golden and his co-defendants operated three fraudulent digital asset companies, promising guaranteed returns through overseas crypto trading, while actually running Ponzi schemes that used new investor funds to pay older investors and enrich the operators.
Consequences for Co-defendants
Golden was also penalized for obstructing federal investigations. He was ordered to forfeit $2.46 million, while co-defendants Gregory Aggesen and Marquis Egerton await sentencing.
Golden's sentencing is part of a wider crackdown on cryptocurrency fraud being undertaken by the U.S. Department of Justice. Law enforcement agencies are expected to persist in their efforts to combat financial crimes in the cryptocurrency sector.
