David Carmona pleads guilty to iComTech Ponzi fraud
David Carmona, founder of the iComTech Ponzi scheme, has pled guilty to one count of conspiracy to commit wire fraud.
After initially pleading not guilty following his arrest in late 2022, Carmona changed his plea at a December 22nd hearing.
Sentencing, which will include prison time, restitution and monetary penalties, has yet to be scheduled.
The maximum sentence for conspiracy to commit wire fraud is twenty years.
Launched in 2018, iComTech was an MLM crypto Ponzi that pretended to engage in crypto trading and mining.
iComTech investors were pitched on up to 2.8% a day, which collapsed when new investment ran dry.
Co-defendant Marco Ruiz-Ochoa (right) pled guilty in September 2023.
Ruiz-Ochoa was scheduled to be sentenced on January 18th but a scheduling conflict will likely see that date pushed back.
Juan Arellano, Moses Valdez and David Brend remain scheduled to face trial on February 28th, 2024.