The CFTC has secured default judgment towards iComTech’s David Carmona, Juan Parra, Moses Valdez and David Brend.
As per the phrases of the judgment, Carmona, Parra, Valdez and Brend are collectively accountable for $1.09 million in restitution plus a $1 million civil financial penalty.
The ordered restitution represents the losses of 190 iComTech Ponzi victims.
The only remaining defendant left within the CFTC’s iComTech case is Marco Ruiz Ochoa (proper).
Whereas a settlement has been reached, a lockdown on the facility at the moment holding Ochoa is liable for the delay.
The lockdown suspended Ochoa’s mail privileges. Stated privileges had been solely just lately restored on October sixteenth.
As soon as Ochoa indicators the Consent Order (which Ochoa’s counsel expects him to do) and as soon as the CFTC’s counsel receives a replica of the signed Consent Order from Ochoa’s counsel, the CFTC’s counsel will promptly make a advice to the CFTC to approve the phrases contained within the Consent Order.
Upon the CFTC’s approval of the phrases contained within the Consent Order, the CFTC’s counsel and Ochoa’s counsel will promptly submit a joint stipulation searching for entry of the Consent Order with the Courtroom that may absolutely resolve the CFTC’s claims towards Ochoa.
The courtroom has rescheduled a pending scheduling convention for December twelfth, 2024.
Along with a civil fraud lawsuit from the CFTC, Carmona, Ochoa and Brend had been additionally criminally charged.
David Carmona, iComTech’s founder, was sentenced to 10 years in jail final month.
Marco Ruiz Ochoa was sentenced to 5 years in jail in January 2024. David Brend is scheduled to be sentenced on November twenty second.