Argyle Coin
A purported diamond-backed cryptocurrency run by Jose Angel Aman as the latest stage of a multi-year diamond-investment Ponzi. The SEC said the linked schemes raised about $30M from 300+ investors; Aman was sentenced in 2020 to six years and ordered to pay ~$23M in restitution.
Also known as: Argyle Coin, Jose Angel Aman, Natural Diamonds Investment, Eagle Financial Diamond Group
Summary
Argyle Coin was marketed by Jose Angel Aman as a "risk-free" cryptocurrency backed by fancy colored diamonds. The SEC said it was a continuation of a Ponzi scheme Aman had run since about 2014 through two earlier companies, Natural Diamonds Investment Co. and Eagle Financial Diamond Group, which falsely promised profits from buying and reselling diamonds. [1][2]
Scale and outcome
The SEC said the linked schemes raised about $30 million from more than 300 investors in the U.S. and Canada, with new investors' money used to pay earlier ones and to fund Aman's personal expenses (including rent, horses, and riding lessons). Aman pleaded guilty and was sentenced in December 2020 to six years in prison and ordered to pay more than $23 million in restitution. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (2)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.