JetCoin’s Dwayne Golden Gets 8-Year Sentence for $40M Crypto Fraud
On June 28, 2025, Dwayne Golden, 57, was sentenced to 97 months (about eight years) in a Brooklyn federal court for orchestrating a $40 million Ponzi scheme through EmpowerCoin, ECoinPlus, and JetCoin. The U.S. Department of Justice (DOJ) announced that Golden, convicted of wire fraud and money laundering, was ordered to forfeit $2.46 million in ill-gotten gains. The sentence aligns with the DOJ’s maximum recommended range.
Fake Crypto Ventures Exposed
From April to August 2017, Golden and co-conspirators Gregory Aggesen, Marquis Demarking Egerton (aka Mardy Eger), and William White ran fraudulent crypto firms promising guaranteed returns from nonexistent trading. Instead, they used new investor funds to pay earlier investors or enrich themselves, defrauding victims of over $40 million. The companies collapsed, leaving investors with nothing. Golden and his associates also obstructed federal investigations by destroying evidence.
Co-Defendants Plead Guilty
All four defendants have pleaded guilty:
- Marquis Demarking Egerton: July 13, 2023
- Gregory Aggesen: November 15, 2023
- William White: April 16, 2024 (sentenced to 30 months)
Sentencing for Aggesen and Egerton is pending. The Commodity Futures Trading Commission’s (CFTC) parallel civil fraud case is stayed until the criminal cases conclude, with guilty pleas likely to expedite resolution.
Broader Crypto Fraud Crackdown
The DOJ and FBI emphasized the case as a warning against crypto scams, with over $2.1 billion lost to such frauds in 2025 alone, per CertiK. Victims can file restitution claims via the FBI’s portal at fbi.gov/jetcoinscams. The sentencing reflects growing regulatory scrutiny of crypto Ponzi schemes, urging investors to verify platforms before investing.