David Carmona
Founder of IcomTech, a purported crypto mining and trading company that the DOJ called a Ponzi scheme. He was convicted of wire-fraud conspiracy and sentenced in 2024 to 121 months (about 10 years) in prison.
Also known as: David Carmona
Bio
David Carmona founded IcomTech around 2018, marketing it as a cryptocurrency mining and trading company that promised guaranteed daily returns and a doubling of investors' money within six months. According to the SDNY, IcomTech did no real mining or trading and used new investor money to pay earlier investors and enrich its promoters, targeting many Spanish-speaking victims. [1][2]
Legal outcome
Carmona pleaded guilty to conspiracy to commit wire fraud. U.S. District Judge Jennifer L. Rochon sentenced him to 121 months in prison plus three years of supervised release, with restitution and forfeiture orders. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
- Founder of Cryptocurrency Ponzi Scheme IcomTech Sentenced to 121 Months in Prison — U.S. ICE / HSI (DOJ)
- U.S. v. David Carmona, et al. (IcomTech) — U.S. DOJ (SDNY)
See also
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Profit ConnectProjectsA Las Vegas company that the SEC said was a $12M+ Ponzi scheme: it told 277+ investors their money would be invested in securities and crypto via an 'artificial intelligence supercomputer' guaranteeing 20–30% annual returns. The SEC halted it in 2021; over 90% of funds came from investors.
- Dropil (DROP)Tokens
This page was last updated on Jun 8, 2026. View revision history.