Kenneth Brown Jr. and Nicholas Shepard, the operators of the Golden Eagle gold and precious metals exchange, will plead guilty to conspiracy to commit wire and mail fraud, according to a new report. The two men are accused of participating in a large-scale money laundering ring that defrauded victims of approximately $600,000 between 2021 and 2022. In the scheme, fraudsters lured victims into investing in fake opportunities (scams) by establishing emotional relationships online. The money was then converted into digital currency through the Voyager digital currency platform. Brown’s attorney says his clients were also victims and were unaware of the nature of the fraud. Both defendants face up to 20 years in prison and a $250,000 fine.
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