The CFTC has sued iComTech Ponzi scammers for commodities fraud.
Identify defendants within the CFTC’s Might twenty fourth filed Criticism are:
- David Carmona (aka David Segundo, Wuilver Segundo)
- Juan Arellano
- Moses Valdez
- David Brend
- Marco A. Ruiz Ochoa
All the CFTC case defendants have been indicted in parallel legal proceedings introduced by the DOJ.
Carmona, iComTech’s founder and CEO, was arrested on or round October twenty first, 2022.
Ringleaders Arellano, Valdez, Brend and Ochoa had been later arrested on November eighth.
iComTech was an MLM cryptocurrency Ponzi scheme launched in 2018.
iComTech funding was solicited on the promise of a 0.9% to 2.8% day by day return, purportedly generated through crypto buying and selling and mining.
Allegations within the CFTC’s iComTech Criticism mirror these from the sooner DOJ’s legal fees.
This case includes a fraudulent solicitation scheme focusing on Spanish-speaking communities in the USA and different nations.
Defendants didn’t commerce Bitcoin or different digital asset commodities on the shoppers’ behalves as they represented, and didn’t earn day by day returns nor double the shoppers’ investments based mostly on buying and selling.
As an alternative, Defendants misappropriated buyer funds to additional promote the scheme, and, on info and perception, to pay for private expenditures and to pay themselves commissions and bonuses.
Actually, some Icomtech clients misplaced all of their funds.
Because of Defendants’ fraudulent scheme, greater than 170 people situated in the USA and different nations transferred at the least lots of of hundreds of {dollars} to Defendants and different Icomtech brokers.
Throughout and after the Related Interval, quite a few clients unsuccessfully tried to withdraw cash from their Icomtech accounts.
The CFTC alleges iComTech’s Ponzi scheme violated the Commodity Alternate Act, beneath “fraud by misleading gadget or contrivance”.
The CFTC is looking for a everlasting injunction in opposition to the iComTech defendants, in addition to disgorgement, sufferer restitution and a civil financial penalty.
BehindMLM has added the CFTC’s iComTech case to its calendar, so keep tuned for updates as we proceed to trace developments.
Within the associated DOJ legal proceedings, a trial has been scheduled for February twelfth, 2024.
