Prosecutors in the United States have charged nine individuals connected to crypto firms accused of defrauding investors of roughly $8.4 million in separate cases, it was reported on Wednesday.
Courts charged New York native and IcomTech founder David Carmona with conspiracy to commit wire fraud, which could earn up to 20 years in jail.
Forcount founder and Brazilian national Francisley da Silva also received counts of wire fraud, wire fraud conspiracy, money laundering conspiracy, and others. Charges could earn da Silva up to 60 years in prison.
Which Charges Are on the Table?
The US Attorney’s Office for the Southern District of New York laid the charges on 14 December, stating IcomTech and Forcount, crypto mining and trading enterprises, offered supposed guaranteed daily returns to double investments in up to six months for coin holders.
The firms later used the funds from purchasers to pay initial investors and additionally bought expensive luxury goods and properties, the indictment said.
It accused them of buying “lavish expos” in the US and other locations to promote its brand. Sporting pricey vehicles, expensive clothing, and other luxury items, employees aimed to attract investors with promising returns on investment with the campaigns. Users later found they could not withdraw funds from the exchange, triggering the collapse of the company.
The US Securities and Exchange Commission (SEC) later slapped charges on Forecount’s founders and key employees, stating they aimed to seek out Spanish-speaking investors. This earned the firms over $8.4 million from fake memberships with the promise of shares in the companies trading and mining earnings.
Tokens, Cellphones, and Denials
IcomTech and Forcount also opened respective native Icoms and Mindexcoin tokens to pay back investors of both platforms. The plan later fell through last year and investors failed to receive payments.
The indictment read: “In addition to promoting the Forcount scheme, SILVA and TACURI also sought to conceal their fraud by laundering Victim funds through shell companies and making large personal expenditures on things like real estate and bulk cellphone purchases. On or about June 27, 2022, law enforcement officers with HSI stopped and interviewed HERNANDEZ as she was returning to the United States from Mexico. During the interview, HERNANDEZ falsely denied, among other things, being a Forcount promoter, recruiting investors, and taking money from them.”
