Different creators and promotors of two purportedly fake crypto companies are having to deal with a reiteration of penalties that could land them 20 years in prison.
US prosecutors have laid charges in two separate cases of evidence against nine individuals who established or advanced a couple of cryptocurrency companies claimed to be Ponzi plans that got $8.4 million from investors.
On Dec. 14 the U.S. Attorney’s Office for the Southern District of New York unlocked the arraignment charging the implied crypto mining and trading companies IcomTech and Forcount guaranteed investors reliable everyday returns that could twofold their investment in a half year.
As a general rule, prosecutors say
As a general rule, prosecutors say the two firms were utilizing the money from later investors to pay prior investors, while different funds were spent on advancing the companies and purchasing extravagance things and land.
Lavish expos were held in the U.S. what’s more, abroad, alongside presentations in little communities, that baited investors in with commitments of financial freedom and wealth
Promotors would purportedly appear at occasions in costly vehicles, wearing extravagance clothing and would flaunt about the money they were making from investing in the company they were advancing. Investors were given access to a entrance to monitor their profits
IcomTech and Forcount began to go to pieces when users couldn’t pull out their purported returns.
The Securities and Exchange Commission (SEC)
Charges brought against Forcount’s creators and promotors by the Securities and Exchange Commission (SEC) claim the outfit designated basically Spanish speakers and accumulated more than $8.4 million from hundreds of investors selling memberships offering a cut of its crypto trading and mining activities.
While trying to turn up liquidity the two companies made tokens so they could attempt reimburse investors with IcomTech and Forcount launching Icoms and Mindexcoin separately.
Seemingly the token deals bombed as by 2021 both had stopped making payments to investors.
With these two prosecutions, this Office is making an impression on all cryptocurrency scammers We are coming for you, said U.S. Attorney Damian Williams. Taking is taking, in any event, when spruced up in the jargon of cryptocurrency.
David Carmona of Queens , New York was named in the prosecution as the founder of IcomTech, and was accused of conspiracy to commit wire extortion that conveys a most extreme punishment of 20 years jail.
Forcount’s founder was named as Francisley da Silva, from Curitiba, Brazil and has to deal with penalties of wire extortion, wire fraud conspiracy and money laundering conspiracy which conveys a limit of 60 years in prison whenever convicted of all charges.
The promotors for the firms face different charges connecting with wire fraud, wire fraud and money laundering conspiracy and offering misleading statements.