iComTech founder David Carmona has been sentenced to ten years in prison.

Restitution and monetary penalties will be determined on November 22nd, 2024..

Carmona is the founder of iComTech, an MLM crypto Ponzi that collapsed in mid to late 2019.

Following his arrest in late 2022, Carmona pled guilty to one count of conspiracy to commit wire fraud.

In addition to prison time, Carmona was ordered to surrender $329,464 in two seized Bank of America accounts.

As per the court’s October 4th judgment, Carmona will serve his ten year sentence at “a correctional facility in the New York area”. After serving time, Carmona will be subject to three years of supervised release.

Carmona is one of six iComeTech defendants.

  • Marco Ruiz-Ochoa was sentenced to five years in prison in January 2024
  • Gustavo Rodriguez is scheduled to be sentenced on October 22nd
  • David Brand is scheduled to be sentenced on October 23rd
  • Moses Valdez’s status is unclear, there have been four sealed filings on his docket since April 30th, 2024
  • Juan Arellano 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 filed a civil fraud lawsuit against Carmona in May 2023. The outcome of the CFTC’s iComTech lawsuit remains pending.