PANews reported on December 19th that, according to a statement on the U.S. Department of Justice website, 56-year-old Magdaleno Mendoza was sentenced to 71 monthsPANews reported on December 19th that, according to a statement on the U.S. Department of Justice website, 56-year-old Magdaleno Mendoza was sentenced to 71 months
Mendoza, a key figure in the IcomTech crypto scam, was sentenced to 71 months in prison.
PANews reported on December 19th that, according to a statement on the U.S. Department of Justice website, 56-year-old Magdaleno Mendoza was sentenced to 71 months in prison for participating in the IcomTech cryptocurrency Ponzi scheme and illegal entry into the U.S. He was also ordered to pay approximately $789,000 in restitution and forfeit $1.5 million and his California property. Mendoza was a key salesman for IcomTech, leading a fraudulent campaign targeting Hispanic working-class individuals since 2018, promising fictitious investment returns, and assisted in multiple similar scams. IcomTech collapsed in 2019, leaving victims across the United States. Founder Carmona and former CEO Ochoa have already been sentenced in 2024.
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