Dwayne Golden, a partner at multiple fraudulent encryption companies, was sentenced to 8 years in prison after defrauding $40 million.

PANews June 28 news, according to The Block report, based on the news released by the U.S. Department of Justice, 57-year-old Dwayne Golden from Pennsylvania was sentenced to 97 months (about 8 years) in prison for his involvement in operating fraudulent crypto assets companies EmpowerCoin, ECoinPlus, and Jet-Coin, and was ordered to forfeit approximately $2.46 million in illegal proceeds. Dwayne Golden and his accomplices defrauded investors of $40 million through a Ponzi Scheme and subsequently obstructed a federal investigation. Dwayne Golden was first charged with fraud, money laundering, and other financial crimes in March 2022.