Founder of fraudulent JetCoin crypto scheme loses millions and freedom
Date: 2025-06-30 Author: Oliver Abernathy Categories: BUSINESS
According to the investigation materials of the US Department of Justice, Golden managed to convince investors to invest over $40 million, assuring them of a guaranteed income from operations with digital assets. In fact, his companies operated on the principle of a classic pyramid: payments to old investors were made at the expense of the money of new participants.
The scam lasted from spring to late summer 2017. When the scheme collapsed, Golden, along with two accomplices - William White and Gregory Aggesen - tried to hide the evidence and misled regulators by providing fake data. The CFTC, which oversees the commodity futures market, was also involved in the investigation.
A total of four people are involved in the case. White has already been sentenced — he will spend two and a half years behind bars. Aggesen and another defendant, Marquis Demacking Egerton, are awaiting the court’s decision. All of them were charged three years ago.
The prosecution emphasizes that Golden and his accomplices speculated on interest in the crypto sphere, without providing legal services or engaging in real trading of digital assets. Prosecutor Joseph Nocella said that the defendants simply took advantage of people’s desire to make money on new technologies, and ended up embezzling millions.
The Department of Justice recently requested permission to seize crypto assets worth over $225 million. According to the investigation, these funds are directly related to fraudulent schemes that have affected more than 400 investors.
The story of JetCoin shows how vulnerable those who believe in quick profits without proper background checks and licenses can be. Despite regular warnings from regulators, many continue to trust scammers who disguise themselves as crypto traders and promise guaranteed income.
Golden's case has become one of the notable examples of the tough course of the American authorities against fraud in the digital currency industry. The confiscation of a large amount of cryptocurrency, arrests and real terms once again prove that law enforcement agencies are closely monitoring this sector.
Amid tightening controls, investors are advised to be careful when choosing platforms and carefully check all offers related to quick earnings on crypto assets. Otherwise, the risk of losing invested funds remains high, despite promises of high returns and confident presentations on the websites of dubious companies.
