Indictments have been issued for Dwayne Golden, Gregory Aggesen, Marquis Demacking Egerton (aka Mardy Eger), and William White.
Their charges stem from the operation of various MLM crypto Ponzi schemes.
In the indictment, a fifth co-conspirator is redacted. I assume this is Jatin Patel, based on concurrent legal cases launched by the CFTC.
Patel’s name has been withheld since he has yet to be arrested.
Dwayne Golden (right) and Mardy Eger are US citizens who live in North Carolina and Florida, respectively.
Golden and Eger were initially caught conducting Ponzi schemes with Blue Bird Bids by BehindMLM.
Blue Bird Bids began as a clone of the iconic Zeek Rewards Ponzi scam in 2012.
Egar (right) continued to work with Golden after Blue Bird Bids but in secret.
Ingreso Cybernetico, 12 Marketing Suite, Xtreme Coin, and Du It Bitcoin Network were all founded by Dwayne Golden. James Wards’ Sports Trading BTC Ponzi included Golden.
Greg Aggesen is a New York-based US citizen. In June 2021, Aggesen was profiled on BehindMLM as the owner of Omega Digital.
Aggesen’s failed AutoBTC Builder Ponzi scam was resurrected as Omega Digital.
Ages (right) was a promoter of JetCoin, another Ponzi fraud, before AutoBTC.
Jatin Patel and William White I’ve never heard of it before. White is a Pennsylvanian who is a US citizen. Patel is an Indian national, according to the CFTC’s complaint.
Between April and August 2017, Golden, Egar, Aggesen, and Patel are accused of starting “a series of fraudulent schemes.”
EmpowerCoin, ECoinPlus, JetCoin, and JetCoin 2.0 are the four coins.
The aforementioned Ponzi schemes were advertised.
on false claims that the investors’ funds would be invested in Bitcoin, that those firms would trade Bitcoin on their behalf, and that the investors would profit handsomely from the trading activities.
The firms went bankrupt shortly after receiving the investors’ assets, even though they had never traded.
EmpowerCoin and ECoinPlus are said to be operated by Dwayne Golden, Mardy Eger, and Jatin Patel.
The frauds were put together by Golden and Eger, while Patel was the IT person in India. EmpowerCoin was reborn as ECoinPlus, and both used the same backend script.
To establish JetCoin, Aggesen and an undisclosed co-conspirator joined the three.
The identical backend script that was utilized to operate the prior Ponzi schemes was reused.
When the short-lived schemes failed, Golden, Eger, Aggesen, and Patel resorted to the tired excuses of “technical issues” and “we were hacked!”
The four Ponzi scams pulled in a total of $44.9 million.
Before investors were paid, Dwayne Golden, Gregory Aggesen, Marquis Demacking Egerton, Jatin Patel, and Co-Conspirator #1 seized the money.
Golden and Patel had exclusive access to Bitcoin funds from investors, and they frequently stole funds off the top before paying investors.
Ages began to be concerned about US officials coming after him while JetCoin was crashing for the second time.
Aggesen specifically requested Golden for advice on how to deal with FBI investigators if he was contacted and questioned about JetCoin.
The Federal Trade Commission (FTC) sued JetCoin Master Distributor Scott Chandler in February 2018.
In June 2018, the FTC served Aggesen with a subpoena in connection with the matter. “Testimony and documents about JetCoin” were requested in the subpoena.
Ages and Golden had William White erase JetCoin evidence from Aggesen’s laptop after he was served.
White sent the FTC a laptop pretending to be Aggesen’s laptop in June 2018, working on Aggesen’s behalf.
This laptop had been tampered with and information had been destroyed, according to a forensic assessment.
Following that, William White communicated directly with the FTC, supplying them with information.
lies (that) were created with the express purpose of obstructing any inquiry into JetCoin and preventing the deposit of… Ages, Gregory.
Aggesen’s deposition was canceled by the FTC for unknown reasons.
The obstructive behavior was done “in anticipation of a criminal inquiry,” according to the indictment.
Aggesen sent a message to Co-Conspirator #1 in or around June 2018, around the time White was wiping information from the laptop, suggesting that the laptop needed to be wiped before police authorities investigated his home.
In a separate message, Aggesen informed Co-Conspirator #1 that Golden and White had instructed him that police enforcement would need a court order to examine his cellphone.
In June 2021, the FBI presented Addesen with a grand jury subpoena.
The subpoena demanded, among other things, any records relating to EmpowerCoin, ECoinPlus, and JetCoin.
The indictment concludes by stating that William White went on to earn a profit.
Statements that are grossly false and misleading… on behalf of Aggesen to the United States Attorney’s Office for the Eastern District of New York
The defendants are charged with eleven counts of fraud in the indictment:
Golden, Aggesen, Eger, and Patel conspired to commit wire fraud; wire fraud, EmpowerCoin/ECoinPlus (Golden, Eger, and Patel); wire fraud, JetCoin (Golden, Aggesen, Patel); conspiracy to commit money laundering, promotion (Golden, Aggesen, Eger, Patel); money laundering, unlawful monetary transactions (Golden, Aggesen, Eger, Patel); conspiracy to obstruct justice (Golden (Golden, Aggesen, White)
Federal Grand Jury inquiry for obstruction of justice and tampering with evidence (Golden, Aggesen, White)
The indictment, which was filed on March 3rd, also demands criminal forfeiture.
“If convicted, the defendants face up to 20 years in prison,” according to a news statement from the Department of Justice accompanying the indictment.
The case has yet to appear on Pacer at the time of writing. I’ll check again tomorrow and provide any new information.
9th of March, 2022 – The criminal matter has been transferred to Pacer. In a separate story, I’ve detailed the defendants’ arrests.
Updated on May 12th, 2022 – On October 3rd, 2022, a status meeting has been set.