IcomTech Founder Sentenced to 10 Years for $8.4M Cryptocurrency Ponzi Scheme

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IcomTech Founder Sentenced to 10 Years for $8.4M Cryptocurrency Ponzi Scheme David Carmona, the founder of the notorious cryptocurrency Ponzi scheme IcomTech, has been sentenced to 10 years in prison by a U.S.district judge, according to a press release from the United States Attorney for the Southern District of New York, reported by Cointelegraph.

Carmona’s sentencing marks a significant legal victory for prosecutors and highlights the U.S.government’s efforts to combat fraudulent schemes in the cryptocurrency space.

Carmona’s sentencing comes nearly a year after he pleaded guilty to wire fraud conspiracy in December 2023, having defrauded victims out of $8.4 million between mid-2018 and late 2019.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: IndiaUnited States

Topics: Crypto News Icomtech

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-05 @ 04:02:47 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 574 words

Reading Time: 4 minutes read

Sentences: 29 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 22891878

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

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News Last Updated: 12 hours ago

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