A cryptocurrency scammer was sentenced to 8 years in prison for defrauding eEmpowerCoin and ECoinPlus worth $40 million.

Dwayne Golden, 57 years old, has been sentenced to 97 months in prison for participating in a large-scale cryptocurrency Ponzi scheme that caused investors to lose more than $40 million. Golden was convicted of online fraud and money laundering through three digital companies: EmpowerCoin, ECoinPlus, and Jet-Coin. Prosecutors stated that he and his accomplices promised profits from cryptocurrency transactions that never occurred; instead, the funds were used to pay off earlier investors or enrich the scammers. After the companies collapsed, Golden and his accomplice attempted to obstruct the investigation. He was also ordered to forfeit approximately $2.46 million. The DOJ has urged victims to file claims for restitution through the FBI's portal.