Feds Sentence IcomTech Ponzi Scheme Promoter to 71 Months in Prison

币界网

Release Time:12/19/2025 10:31:44

A U.S. federal court sentenced Magdaleno Mendoza to 71 months in prison for promoting the IcomTech Ponzi scheme. Mendoza lured Spanish-speaking investors with false claims of high daily returns. The court ordered $790,000 in restitution and seized $1.5 million in illicit gains. Mendoza pleaded guilty in July 2025 to wire fraud and illegal entry. The IcomTech scheme collapsed in late 2019 amid investor withdrawals and complaints. The case is part of a broader federal probe, which has already jailed the company’s founder. Authorities are also aligning actions with EU Markets in Crypto-Assets Regulation to strengthen oversight.

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