Marco Ruiz Ochoa has been sentenced to a five-year prison term. Damian Williams, U.S. Attorney for the Southern District of New York, announced this follows Ochoa’s guilty appeal to a charge of a plan to commit wire fraud.
IcomTech, started by David Carmona in 2018, emerged as a purported cryptocurrency mining and trading company, promising investors substantial returns. Ochoa, initially put forward as the CEO, along with co-defendants, misled investors about guaranteed daily returns from cryptocurrency trading and mining.
The scheme, which involved luxurious events to attract investments, ultimately resulted in significant financial losses for the victims. Ochoa and his co-conspirators used the invested funds for personal enrichment and promotional activities, leading to the eventual collapse of IcomTech by the end of 2019.
Alongside his prison term, Ochoa, 35, from Nashua, New Hampshire, faces two years of supervised release and is ordered to forfeit $914,000 in criminal proceeds.
The case highlights the collaborative efforts of Homeland Security Investigations’ El Dorado Task Force and other financial regulatory bodies. Victims of the IcomTech fraud are encouraged to stay informed about the case and exercise their rights, with contact information available for the victim witness coordinator.
The illegal Finance and Money Laundering Unit of the U.S. Attorney’s Office leads the case prosecution. This leadership emphasizes the office’s dedication to fighting financial fraud.
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