IcomTech
A purported crypto mining/trading company (founded ~2018) that the U.S. DOJ says was a Ponzi scheme promising guaranteed daily returns. Founder David Carmona was sentenced in 2024 to 121 months (~10 years) and ordered to forfeit ~$3.6M.
Also known as: IcomTech, David Carmona
Summary
IcomTech, founded around 2018, claimed to be a cryptocurrency mining and trading company promising guaranteed daily returns and doubling investors' money within six months. The U.S. DOJ says it was a Ponzi scheme that conducted no real mining or trading, used new investors' funds to pay earlier ones, targeted many Spanish-speaking victims, and collapsed around the end of 2019. [1][2]
Outcome
Founder David Carmona pleaded guilty to conspiracy to commit wire fraud and was sentenced in October 2024 to 121 months in prison (about 10 years), three years of supervised release, and ordered to forfeit about $3.6 million. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
Sources (2)
See also
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- 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.
- Crowd Machine (CMCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.