⚖️Cointelegraph: David Carmona, the founder of the IcomTech cryptocurrency pyramid scheme, was sentenced to 10 years in prison.

Carmona organized a Ponzi scheme promising the working class to double their investments through crypto trading and mining. In reality, no funds were invested anywhere, they went towards personal expenses of Carmona and others, who bought jewelry, real estate, etc.

The scheme collapsed in 2018, leaving investors without their money. In January 2024, Marco Ruiz Ochoa, former executive director of the company, was sentenced to five years in prison for participating in the same fraud.

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