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U.S. residents Dwayne Golden, Gregory Aggesen and Marquis Demaking Egerton have been charged with money laundering and crypto-currency fraud worth $40 million.
According to an official statement from the US Department of Justice, the defendants organized the EmpowerCoin, EcoinPlus and Jet-Coin cryptocurrency pyramids back in 2017.
The scheme for raising funds was quite standard – the scammers promised investors a fixed income through “trading abroad”. The investors’ money then went into the pocket of Dwayne Golden, Gregory Aggesen and Marquis Demacking Egerton. Profit to old investors was paid from new attracted funds.
“The Defendants engaged in a complex scheme to swindle funds from unsuspecting investors across the country through false promises of guaranteed profits and virtual currency trading opportunities. As the companies collapsed and the fraud became clear, the defendants tried to cover their tracks and destroy the evidence,” the ministry said in a statement.
The total amount of money invested by investors in these schemes exceeds $40 million. If the suspects are found guilty of all charges, they could face up to 20 years in prison.
Recall that at the end of February, official charges were filed in the United States against the organizer of the cryptocurrency pyramid BitConnect, Satish Kumbhani. He could face up to 70 years in prison.
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