David Brend and Gustavo Rodriguez, key figures in the cryptocurrency Ponzi scheme Icomtech, have been sentenced to 10 and eight years in prison, respectively, for defrauding thousands of investors. Icomtech falsely marketed itself as a crypto trading and mining company, promising guaranteed daily returns. Victims, lured by flashy events and promises of wealth, invested through […]
A North Carolina man has been indicted for allegedly laundering more than $ 380,000 in a wire fraud scheme, according to the Department of Justice. The suspect is accused of moving illicit funds through payment platforms and cryptocurrency exchanges, transferring over $ 240,000 to crypto addresses. The money laundering conspiracy charge could result …
Tennessee has secured a multi-million dollar settlement with GS Partners over alleged deceptive investment schemes involving digital assets and the metaverse. Investors were enticed with tokens and vouchers linked to physical gold, skyscrapers, and virtual staking pools. Now, affected individuals have 90 days to file claims, with promises of refunds for all deposited funds or […]
A cryptocurrency promoter was sentenced to 20 years in prison for running a Ponzi scheme that defrauded thousands of investors, particularly in Spanish-speaking U.S. communities. The scheme, disguised as a crypto mining operation, promised guaranteed returns but left victims unable to withdraw funds while promoters pocketed millions. The fraudster was ordered to forfeit over $ […]
A German national accused of orchestrating a $ 150 million cryptocurrency fraud is now a fugitive after allegedly tampering with his ankle monitor while on home detention in New York. Prosecutors say he led a multi-level marketing scheme, promising massive returns, before siphoning off millions in cryptocurrency and disappearing just before his trial. An …