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Three JetCoin scammers were caught in March 2022. Their names were Dwayne Golden, Mardy Eger, and Gregory Aggesen.

The three people were charged with crimes related to how they ran the JetCoin Ponzi scheme. At the same time, the CFTC also brought civil fraud charges.

I didn’t know until today that the CFTC also looked into James Ward, who helped the gang.

Ward (on the right) avoided being charged and arrested. The CFTC did not bring civil charges against him either.

Based on what the CFTC found out about Ward;

Around May 2017, Ward and his business partners started doing business as JetCoin and put up the JetCoin website.

Ward wrote the content for the JetCoin website. Ward also registered the JetCoin website with an address in Arkansas through an Arizona company that does website registration.

Ward and his partners ran the JetCoin scheme together. They were in charge of the website and the supposed investment opportunity it offered.

Customers were promised that they would make money no matter what if a team of professional traders traded Bitcoin, a virtual currency that is a commodity in interstate commerce, or if they brought in more customers to the supposed investment opportunities.

But the supposed investment opportunity turned out to be a Ponzi scheme, in which customers were paid “profits” that were stolen money from other customers.

Instead of trading customer investments, Ward and his partners stole a lot of the Bitcoin and spent it on themselves.

In June 2017, BehindMLM looked at JetCoin and correctly said that it was a Ponzi scheme.

When Ward found out in 2018 that the FTC was also looking into a JetCoin promoter, he worked with others to get subpoenaed evidence deleted.

Around June 5, 2018, the Federal Trade Commission sent a subpoena to one of Ward’s helpers as part of an investigation into at least one person who promoted JetCoin.

This partner asked Ward for advice on how to deal with the subpoena. Ward told the accomplice to delete any documents on his computer that had to do with joining. He told the accomplice how to do this, telling him at one point to search for “jet” in his emails and delete all the results.

Ward also told the accomplice more than once that the accomplice should either set fire to his computer or throw it in a lake.

In the end, that accomplice was able to delete everything on his computer, and on or around June 27, 2018, he gave the computer to the FTC.

Consumers lost a total of $21.7 million to JetCoin’s scams. Ward and his partners stole $7.8 million, and Ward kept $509,000 for himself.

Ward chose to settle the CFTC’s early case instead of defending himself against the accusations.

The CFTC put out Ward’s settlement order on March 8, 2022. As part of his settlement, Ward agreed with everything the CFTC said about him.

Ward was not only

Ward will never be able to trade on or be subject to the rules of any registered entity, either directly or indirectly, and all registered entities will refuse to give Ward trading privileges.

Concerning disgorgement and a civil penalty, the CFTC can ask for money whenever it thinks it is necessary.

At the moment, the CFTC has stopped its civil case against Golden, Eger, and Aggesen until the criminal case is over.

I’ve been keeping an eye on JetCoin every month, but since the stay in April 2022, there hasn’t been much to say.

James Ward kept cheating people through Full Velocity even after he reached a deal with the CFTC.

Full Velocity was a supposed crypto trading scheme that started in February 2022.

When Full Velocity went bankrupt in May 2022, investors lost up to 90% of their money. Ward tried to restart Full Velocity in June 2022, but it doesn’t look like the restart went anywhere.

The website for Full Velocity is still up, but SimilarWeb doesn’t show any traffic.

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