iComTech founder David Carmona has been sentenced to 10 years in jail.
Restitution and financial penalties will probably be decided on November twenty second, 2024..
Carmona is the founding father of iComTech, an MLM crypto Ponzi that collapsed in mid to late 2019.
Following his arrest in late 2022, Carmona pled responsible to 1 rely of conspiracy to commit wire fraud.
Along with jail time, Carmona was ordered to give up $329,464 in two seized Financial institution of America accounts.
As per the court docket’s October 4th judgment, Carmona will serve his ten yr sentence at “a correctional facility within the New York space”. After serving time, Carmona will probably be topic to a few years of supervised launch.
Carmona is considered one of six iComeTech defendants.
- Marco Ruiz-Ochoa was sentenced to 5 years in jail in January 2024
- Gustavo Rodriguez is scheduled to be sentenced on October twenty second
- David Model is scheduled to be sentenced on October twenty third
- Moses Valdez’s standing is unclear, there have been 4 sealed filings on his docket since April thirtieth, 2024
- Juan Arellano was scheduled for sentencing on September seventeenth however his present standing can also be unclear (additionally 4 sealed filings since April thirtieth, 2024)
Along with prison prices, the CFTC filed a civil fraud lawsuit towards Carmona in Could 2023. The end result of the CFTC’s iComTech lawsuit stays pending.