iComTech founder David Carmona has been arrested in the US.
Carmona’s arrest follows indictment by a Grand Jury in the Southern District of New York.
In addition to Carmona, iComTech promoters Marco Ruiz Ochoa, Moses Valdez, Juan Arellano, David Brend and Gustavo Rodriguez have also been indicted and arrested.
BehindMLM
reviewed iComTech
in October 2018. iComTech was an MLM crypto Ponzi scheme, pitching daily returns of up to 2.8%.
iComTech was primarily promoted to Spanish-speaking communities across the US and Latin America.
At time of publication we weren’t able to pin down who was running iComTech. The Ponzi scheme collapsed in mid to late 2019.
iComTech’s Ponzi marketing ruses were the cryptocurrency mining and trading cliches.
As per Carmona’s indictment;
IcomTech was a Ponzi scheme.
CARMONA and IcomTech ‘ s other Promoters were not trading or mining cryptocurrency.
Instead, CARMONA, OCHOA, VALDEZ, ARELLANO, and BREND, among other IcomTech Promoters, used Victim funds to pay other Victims, to further promote the Scheme to other Victims, and on personal expenditures.
The closest iComeTech ever got to actually generating mining revenue was entering into a hardware agreement for marketing purposes.
In or about September 2018, DAVID CARMONA and MARCO RUIZ OCHOA, the defendants, entered into a contract on behalf of IcomTech to purchase cryptocurrency mining equipment from a legitimate supplier of such equipment (the “Mining Equipment Supplier” ).
After entering into the agreement, CARMONA , OCHOA , and other IcomTech Promoters began touting IcomTech’s purported investment in such hardware sourced from the Mining Equipment Supplier as a means of generating interest among Victims to invest in the Scheme.
In reality, IcomTech did not meet its payment obligations to the Mining Equipment Supplier and never actually received any cryptocurrency mining hardware.
Nevertheless, CARMONA and OCHOA continued to promote IcomTech’ s purported investment with the Mining Equipment
Supplier, even after representatives of the Mining Equipment Supplier threatened CARMONA and OCHOA with legal action.
For example , in or about January 2019, OCHOA sent CARMONA a message from a representative of the Mining Equipment Supplier accusing OCHOA o f using the Mining Equipment Supplier’s ” brand for legitimacy in marketing to recruit .”
In one text message obtained by the DOJ, Carmona explicitly told Gustavo Rodriguez that
negotiations with the Mining Equipment Supplier were just for appearances and that he was just “using them .”
In response, RODRIGUEZ warned CARMONA that this would only work for a limited time, before the Mining Equipment Supplier found out, but in the meantime CARMONA could earn millions of dollars.
As iComTech began to collapse in mid 2019, the company blamed “technical difficulties, alleged hacks, and other mishaps” for withdrawal delays.
iComTech eventually went on to roll out a shitcoin exit-scam.
In or about summer 2019, as mo
🤖 Quick Answer
Who is David Carmona and what are the charges against him?David Carmona is the founder of iComTech, an MLM cryptocurrency scheme that promised daily returns up to 2.8%. He was arrested in the US following a Grand Jury indictment in the Southern District of New York for operating a Ponzi scheme that collapsed in 2019, primarily targeting Spanish-speaking communities across the US and Latin America.
What was iComTech and how did it operate?
iComTech was an MLM crypto Ponzi scheme that collapsed in mid to late 2019. It promised unrealistic daily returns of up to 2.8% through cryptocurrency mining and trading schemes. The operation primarily targeted Spanish-speaking communities across the United States and Latin America before its collapse.
Who else was arrested in connection with iComTech?
Besides founder David Carmona, six other individuals were
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