IcomTech Promoter Sentenced to Six Years for Fraud

According to Foresight News, Magdaleno Mendoza, a senior promoter of the crypto Ponzi scheme IcomTech, has been sentenced to six years in prison by a U.S. court. Mendoza was found guilty of recruiting investors and participating in a conspiracy to commit wire fraud, promising victims false returns from crypto mining and trading. The court also ordered Mendoza to pay approximately $790,000 in restitution and forfeit assets worth around $1.5 million. Previously, IcomTech founder David Carmona received a nearly 10-year sentence, while former CEO Marco Ruiz Ochoa was sentenced to five years.