Judgment Passed in Another Ponzi Scheme
March 18, 2024
A New York jury found David Brend and Gustavo Rodriguez guilty of conspiracy to commit fraud as former supporters of the IcomTech “cryptomining and trading company.” They claimed to provide guaranteed daily returns to ItomTech investors through crypto trading and mining. However, prosecutors argued that the company didn’t actually trade or mine cryptocurrencies but operated a Ponzi scheme, using investors’ money to pay off other investors. Both face a maximum penalty of 20 years for their roles in the scheme.
