Odaily Planet Daily News: The key figures of the cryptocurrency Ponzi scheme Icomtech, David Brend and Gustavo Rodriguez, were sentenced to 10 years and 8 years in prison respectively for defrauding thousands of investors. Icomtech falsely advertised itself as a cryptocurrency trading and mining company, promising guaranteed daily returns. Victims were lured by fake activities and promises of profit, investing through an online portal that displayed false profits. These funds were then misappropriated to purchase luxury goods, real estate, and further promote the scheme. As complaints increased, Icomtech launched worthless proprietary tokens, exacerbating the victims' losses until the scheme collapsed in 2019. U.S. Attorney Damian Williams described Brend as the spokesperson for the fraudulent enterprise and Rodriguez as its designer. Both face additional restitution and forfeiture orders. (Bitcoin.com)