In this contribution, we investigate the performance of an untrusted relaying system when Cooperative Jammers (CJs) are available. We propose two scenarios, Untrusted Relaying-aided Multiple Cooperative-Jammers-based Simultaneous Transmission (UR-MCJST) and an Untrusted Relaying-aided Multiple Cooperative Jammers-based Time-Division Transmission (UR-MCJTDT). The performances of both UR-MCJST and UR-MCJTDT schemes are investigated. The source node is the primary user (PU) that has access to a transmission bandwidth. An untrusted relay is employed for improving the reliability of the PU transmission, while CJs are invoked for improving the secrecy rate of the PU transmission. The transmission strategy for the scheme proposed in this paper is split into three unique phases. The first phase is called the broadcast-and-jamming phase, while the second phase is called the relaying phase, and the final phase is called CJ’s secondary phase, which is used for transmitting the secondary user message. More explicitly, CJs transmit noise for impairing the untrusted relay node’s ability to decode the message during the broadcast-and-jamming phase. In compensation for their help, CJs are allocated part of the available spectrum by the PU for their transmission during the secondary transmission phase. A Stackelberg leader–follower game was considered between the PU and the CJs, while a power control game that is based on the well-known Nash equilibrium is employed by the CJs. Furthermore, an investigation into the effect of invoking simultaneous transmission and time-division-based transmission scenarios during the CJs’ secondary transmission phase was carried out. Finally, we evaluated the achievable secrecy rate of the PU and the utility rate of the CJs in our proposed scheme.