The CFTC has sued iComTech Ponzi scammers for commodities fraud.
Identify defendants within the CFTC’s Could twenty fourth filed Grievance are:
- David Carmona (aka David Segundo, Wuilver Segundo)
- Juan Arellano
- Moses Valdez
- David Brend
- Marco A. Ruiz Ochoa
The entire CFTC case defendants have been indicted in parallel felony 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 have 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% every day return, purportedly generated by way of crypto buying and selling and mining.
Allegations within the CFTC’s iComTech Grievance mirror these from the sooner DOJ’s felony expenses.
This case includes a fraudulent solicitation scheme focusing on Spanish-speaking communities in america and different international locations.
Defendants didn’t commerce Bitcoin or different digital asset commodities on the purchasers’ behalves as they represented, and didn’t earn every day returns nor double the purchasers’ investments primarily based 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.
On account of Defendants’ fraudulent scheme, greater than 170 people situated in america and different international locations transferred at the very least lots of of 1000’s 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 Change Act, underneath “fraud by misleading machine or contrivance”.
The CFTC is in search of a everlasting injunction towards 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 felony proceedings, a trial has been scheduled for February twelfth, 2024.
