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Tag: David Brend

Former CEO of Crypto Ponzi Scheme iComTech was sentenced to 5-year prison! More Prison Sentences Expected!

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Damian Williams, the U.S. Attorney for the Southern District of New York, announced the sentencing of Marco Ruiz Ochoa to five years in prison for his involvement in the crypto Ponzi scheme IcomTech. Ochoa, 35, pled guilty to one count of conspiracy to commit wire fraud. Alongside his prison sentence, Ochoa has been ordered to undergo two years of supervised release and to forfeit $914,000 in criminal proceeds.

Attention: The Rise of Fraudulent Crypto Schemes Post-SEC ETF Approval!

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In a cautionary tale for investors, David Carmona, founder of the notorious iComTech Ponzi scheme, has recently pleaded guilty to conspiracy to commit wire fraud, facing up to 20 years in prison. This case underscores a worrying trend that we at FinTelegram expect to see more of, particularly in the wake of the SEC's recent approval of crypto ETFs. Scammers are typically very competent in using new trends for their fraud business.

U.S. Criminal & Regulatory Charges Against Operators Of Crypto Pyramid Schemes!

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The U.S. SEC charge Francisley Da Silva, Juan Tacuri, Ramon Arias, and Jose Reyes for their roles in creating and promoting Forcount Trader Systems, Inc., a fraudulent crypto asset pyramid scheme that raised more than $8.4 million from hundreds of retail investors primarily from Spanish-speaking communities throughout the United States and other countries. In a parallel action, the U.S. Attorney’s Office for the Southern District of New York announced criminal charges.

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