IcomTech founder sentenced to nearly 10 years in prison for participating in a cryptocurrency Ponzi scheme
2024-10-05 00:51:48
On October 5th, according to The Block, U.S. District Judge Jennifer L. Rochon sentenced IcomTech founder David Carmona to 121 months in prison on Friday. Carmona previously pleaded guilty to one count of conspiracy to commit wire fraud. Carmona co-founded IcomTech in 2018 and claims it is a cryptocurrency mining and trading company. Prosecutors said the company promised investors a profit if they purchased certain "so-called cryptocurrency-related investment products." But that did not happen. Instead, prosecutors said IcomTech was not involved in mining or trading for its investors, but instead used the money to pay other investors and use it themselves.
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