Kenneth J. Brown, 45, and Nicholas R. Shepard, 45, of Lexington pleaded guilty to one count of conspiracy to commit wire fraud and mail fraud for their involvement in a business email compromise and romance scam scheme.
Evidence obtained in the investigation revealed that Brown and Shepard coordinated with others to receive checks from victims of the business email compromises and romance scams through the United States mail to their business, Golden Eagle Precious Metals Exchange, based in Irmo. After receiving the checks, Brown and Shepard deposited them into their business account and then converted the money into cryptocurrency.
Brown and Shepard face a maximum penalty of 20 years in federal prison. They also face a fine of up to $250,000, restitution, and three years of supervision to follow the term of imprisonment. United States District Judge Joseph F. Anderson, Jr. accepted the guilty pleas and will sentence Brown and Shepard after receiving and reviewing a sentencing report prepared by the U.S. Probation Office.
This case was investigated by the United States Secret Service, the United States Postal Inspection Service, the Lexington County Sheriff’s Department, and the Richland County Sheriff’s Department. Assistant U.S. Attorneys Scott Matthews and Winston Holliday are prosecuting the case.
Kenneth J. Brown, 45, and Nicholas R. Shepard, 45, of Lexington have pleaded guilty to a single count of conspiracy to engage in wire fraud and mail fraud in connection with a sophisticated business email compromise and romance scam operation.
Evidence uncovered during the investigation indicates that Brown and Shepard collaborated with accomplices to receive checks from victims of the fraudulent schemes via the United States postal service at their establishment, Golden Eagle Precious Metals Exchange, located in Irmo. Upon receipt of these checks, Brown and Shepard proceeded to deposit them into their corporate account, subsequently converting the funds into cryptocurrency.
Brown and Shepard now confront the possibility of a maximum 20-year incarceration in a federal penitentiary. Additionally, they may be subject to a fine not exceeding $250,000, mandatory restitution, and three years of post-imprisonment supervision. United States District Judge Joseph F. Anderson, Jr. acknowledged their guilty pleas and will determine their sentencing after a detailed review of a sentencing report compiled by the U.S. Probation Office.
The investigation into this case was diligently carried out by the United States Secret Service, the United States Postal Inspection Service, the Lexington County Sheriff’s Department, and the Richland County Sheriff’s Department. Spearheading the prosecution of this complex case are Assistant U.S. Attorneys Scott Matthews and Winston Holliday.
