According to Foresight News, former IcomTech executive Marco Ruiz Ochoa has pleaded guilty to his role in a cryptocurrency Ponzi scheme, admitting to a charge of conspiracy to commit wire fraud, which carries a maximum sentence of 20 years in prison.
IcomTech was a so-called crypto mining and trading company that promised profits to investors in exchange for their purchase of 'crypto-related investment products.' Marco Ruiz Ochoa and others promised to generate profits from the company's crypto trading and mining operations, delivering daily returns. Prosecutors stated that IcomTech's crypto trading and mining business did not exist, and investors' funds were used for other schemes and personal expenses.
