Crypto Mining Ponzis That Made $8.4M Face Charges.

Numerous people responsible for creating and encouraging two cryptocurrencies that are suspect of being fake are facing a litanyof accusations that could lead to them going to prison for up twenty years.

In two separate cases, nine people have been accused by the United States of America’s prosecution. The two individuals are accused in two instances of being involved in the creation or promotion of two cryptocurrency organizations, which are believed to be Ponzi schemes. They have earned an estimated $8.4million from investors.

On the 14th of Dec, the United States Attorney’s Office of the Southern District of New York unsealed the indictment against IcomTech and Forcount, which was allegedly crypto trading and mining companies. Indictment claims that IcomTech, Forcount and others promised investors daily returns up to double their investment in just six months.

According to the prosecution, the two businesses used money from later investors for paying earlier investors. Other monies were used to advertise the company and to purchase luxury goods and real property.

Promoters were known to show up at events in expensive cars and expensive clothes and boast about how much money they had gotten from the investments they made in their firm.

IcomTech and Forcount both launched separate tokens to try to increase liquidity, and to repay investors. Icoms and Mindexcoin were the names of the tokens introduced by Forcount and IcomTech, respectively.

The token sales failed, as both companies stopped paying investors by 2021.

David Carmona, who lives in Queens, New York, was indicted. Carmona was accused of conspiracy to conduct wirefraud, which could lead to a sentence of up 20 years imprisonment.

Francisley da Silva, originally a Brazilian citizen, was identified as the inventor of Forcount. If all allegations are true, he is being investigated for wire fraud and money laundering conspiracy.

Investigators are looking into a range of offenses against the promoters of these companies, including conspiracy to wire fraud, wire fraud and money laundering as well as making false representations.

 

 

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