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.