At least four of IcomTech’s operators are now behind bars after receiving prison sentences of up to 10 years this year.
A Californian court has ordered five individuals involved in IcomTech’s “Ponzi” scheme to pay over $5 million for fraud and misappropriating stolen funds through a fake Bitcoin trading scheme.
The default judgment order found David Carmona, Juan Arellano Parra, Moses Valdez and David Brend liable for all violations of the Commodity Exchange Act and Commodity Futures Trading Commission (CFTC) regulations alleged in the complaint, while Marco A. Ruiz Ochoa was issued a consent order, the CFTC said in a Dec. 11 statement.
The default judgment was made on Oct. 21 from the CFTC’s lawsuit filed on May 24, 2023.
