PANews reported on October 5 that according to The Block, U.S. District Judge Jennifer L. Rochon sentenced IcomTech founder David Carmona to 121 months in prison on Friday. Carmona previously pleaded guilty to a charge of conspiracy to commit wire fraud. Carmona co-founded IcomTech in 2018 and claimed that it was a cryptocurrency mining and trading company. Prosecutors said the company promised that if investors bought certain "so-called cryptocurrency-related investment products," they would make a profit. But this did not happen. Instead, prosecutors said IcomTech did not engage in mining or trading for its investors, but used the money to pay other investors and use it for itself.