Following conclusion of their iComTech trial on March 14th, a jury took just three hours to unanimously find David Brend and Gustavo Rodriguez guilty of conspiracy to commit wire fraud.
iComTech
was an MLM crypto Ponzi that launched back in 2018. Investors were pitched on up to 2.8% a day, paid from subsequently invested funds.
In late 2022 the DOJ moved against iComTech insiders,
arresting founder David Carmona
and four accomplices.
David Carmona pled guilty
in January 2024 with sentencing yet to be scheduled
Marco Ruiz-Ochoa pled guilty
in December 2023 and was sentenced to five years in prison in January 2024
Juan Arellano pled guilty
earlier this month with sentencing yet to be scheduled
Following their respective verdicts, both Rodriguez and Brend (right) moved for a mistrial.
The court tossed the motion on March 15th, finding there was “no reason” to warrant a new trial.
Rodriguez and Brend, also a promoter of the
collapse BitClub Network Ponzi scheme
, are scheduled to be sentenced on June 28th and June 27th respectively.
Update 16th April 2024 –
Due to a granted extension to file a post-verdict motion, David Brend’s sentencing has been pushed back to July 11th.
Update 16th May 2024 –
Following a request for an extension of time to file post verdict motions, David Brend’s sentencing has been pushed back to August 28th.
Gustavo Rodriguez’s sentencing has also been rescheduled for August 27th.
Update 16th June 2024 –
Following additional administrative issues, which now appear to be resolved, Gustavo Rodriguez’s sentencing has been rescheduled for October 22nd.
David Brend’s sentencing has been rescheduled for October 23rd, 2024.
Update 24th October 2024 –
David Brend has filed an “ineffective-assistance-of-counsel” claim. This has resulted in his sentencing being adjourned to November 22nd, 2024.
Update 4th November 2024 –
Gustavo Rodriguez was
sentenced to eight years in prison
on October 31st, 2024.
Update 23rd November 2024 –
Following a medical emergency tied to David Brend’s lawyer, sentencing has been rescheduled for December 2nd, 2024.
🤖 Quick Answer
What was iComTech and how did it operate?iComTech was a cryptocurrency-based multilevel marketing scheme launched in 2018, promising investors daily returns up to 2.8% funded by subsequent investments, functioning as a Ponzi scheme that defrauded participants through unsustainable yield guarantees.
Who were David Brend and Gustavo Rodriguez convicted of?
Brend and Rodriguez were found guilty of conspiracy to commit wire fraud following a three-hour jury deliberation on March 14th, in connection with their roles in the iComTech fraudulent operation.
What happened to other iComTech insiders?
Founder David Carmona pleaded guilty in January 2024; Marco Ruiz-Ochoa received five years prison in January 2024; Juan Arellano pleaded guilty in March 2024, with sentencing pending for
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- iComTech’s Gustavo Rodriguez sentenced to 8 yrs prison
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