Founder of IcomTech Ponzi Scheme Sentenced to 10 Years.
David Carmona, the founder of IcomTech, was sentenced to 10 years in prison for running a cryptocurrency Ponzi scheme. IcomTech falsely promised high returns from crypto trading and mining but defrauded investors of around $8.4 million. Victims faced delays and hidden fees when trying to withdraw their funds. IcomTech collapsed in 2019, leaving investors with losses, while Carmona and his team lived lavishly to lure new victims.
