A long list of accusations against the developers and promoters of two allegedly fraudulent cryptocurrency organizations carries a maximum sentence of 20 years in prison.
Nine individuals have been charged by US prosecutors in two different indictments for founding or promoting two cryptocurrency businesses that are allegedly Ponzi schemes that raised $8.4 million from investors.
The Southern District of New York’s U.S. Attorney’s Office unveiled the indictment on December 14, stating that IcomTech and Forcount, two alleged cryptocurrency mining and trading firms, made promises to investors of “guaranteed daily returns” that might double their money in six months.
Prosecutors claim that both companies were actually paying early investors with money from later investors while utilizing other cash for company promotion, luxury purchases, and real estate purchases.
“Lavish expos” that promised investors financial freedom and wealth were held both domestically and abroad. Presentations in small towns were held in addition to these events.
David Carmona, the creator of IcomTech, is accused of conspiring to commit wire fraud, a crime that carries a maximum 20-year prison sentence. Brazil’s Curitiba is the hometown of Forcount’s founder, Francisley da Silva.
The Securities and Exchange Commission (SEC) has filed charges against the founders and promoters of Forcount, alleging that the company primarily catered to Spanish-speaking customers and raised more than $8.4 million from “hundreds” of investors by offering “memberships” that included a portion of its cryptocurrency trading and mining operations.
To create liquidity and attempt to recoup investors’ funds, IcomTech and Forcount, respectively, launched “Icoms” and “Mindexcoin.” It seems the token sales were a failure because both businesses stopped paying investors in 2021.
This Office is sending a message to all cryptocurrency scammers with these two indictments: We are coming for you, according to U.S. Attorney Damian Williams. Stealing is stealing, even when it’s dressed up in crypto terminology.
David Carmona, the creator of IcomTech, is accused of conspiring to commit wire fraud, a crime that carries a maximum 20-year prison sentence.
Francisley da Silva, the founder of Forcount, is a native of Curitiba, Brazil. He faces up to 60 years in prison if found guilty of all charges, including money laundering, conspiracy to commit wire fraud, and wire fraud.
The firm’s promoters are accused of making false statements, conspiring to commit wire fraud and money laundering, and other offences.
