iComTech Ponzi promoter David Brend has been sentenced to ten years in prison.

Brend’s sentence was handed down on December 2nd, following a guilty verdict in March 2024.

Following Brend’s sentence, he will further be subject to three years of supervised release.

On the money side of things, Brend (right) will pay a $40,000 civil monetary penalty. Restitution has also been ordered, to be determined at a later date.

The DOJ has put forth a proposed $195,305 forfeiture amount, which Brend has opposed.

Brend also filed an appeal against his prison sentence on December 12th.

iComTech was an MLM crypto Ponzi that collapsed in mid to late 2019.

Following their respective indictments, iComTech founder David Carmona, Rodriguez and four other iComTech defendants were arrested in 2022.

  • David Carmona (guilty plea), was sentenced to ten years in prison in October 2024
  • Marco Ruiz-Ochoa (guilty plea), was sentenced to five years in prison in January 2024
  • Gustavo Rodriguez (guilty verdict), was sentenced to eight years in prison in November 2024
  • Moses Valdez’s status is unclear, there have been four sealed filings on his docket since April 30th, 2024
  • Juan Arellano (guilty plea), was scheduled for sentencing on September 17th but his current status is also unclear (also four sealed filings since April 30th, 2024)

In addition to criminal charges, the CFTC also filed civil iComTech related fraud charges in May 2023. The CFTC secured a $1.09 million default judgment in November 2024.