{"id":42257,"date":"2022-12-16T03:11:32","date_gmt":"2022-12-16T07:11:32","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=42257"},"modified":"2022-12-16T03:11:35","modified_gmt":"2022-12-16T07:11:35","slug":"9-people-face-charge-over-alleged-crypto-mining-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/9-people-face-charge-over-alleged-crypto-mining-ponzi-scheme\/","title":{"rendered":"9 people face charge over alleged crypto mining Ponzi scheme"},"content":{"rendered":"\n
US authorities have charged Nine individuals for founding or promoting two crypto mining and trading businesses<\/a> that are allegedly Ponzi schemes that raised $8.4 million from investors.<\/h5>\n\n\n\n
\"9
9 people face charge over alleged crypto mining Ponzi scheme<\/figcaption><\/figure>\n\n\n\n

The Southern District of New York's U.S. Attorney's Office unveiled the indictment on December 14, stating that IcomTech and Forcount, two alleged crypto mining and trading firms\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, made promises to investors of “guaranteed daily returns” that might quadruple their money in six months.<\/p>\n\n\n\n

Prosecutors claim that both businesses were really paying early investors with money from later investors while utilizing other cash for company promotion, luxury purchases, and real estate purchases.<\/p>\n\n\n\n

“Lavish expos” that promised investors financial independence and fortune were staged both domestically and internationally. These events were supplemented by presentations in small towns.<\/p>\n\n\n\n

Promoters reportedly arrived at gatherings in pricey vehicles, dressed to the nines, and boasted about the profits they were generating from investing in the business they were pushing. A “portal” was made available to investors so they could track their profits.<\/p>\n\n\n\n

User's inability to withdraw their supposed refunds caused IcomTech and Forcount to start to break apart.<\/p>\n\n\n\n

According to allegations made by the Securities and Exchange Commission<\/a> (SEC) against Forcount's creators and promoters, the business allegedly targeted primarily Spanish speakers and amassed over $8.4 million from “hundreds” of investors by offering “memberships” that included a share of its cryptocurrency trading and mining activities.<\/p>\n\n\n\n

IcomTech and Forcount launched “Icoms” and “Mindexcoin,” respectively, in an effort to generate liquidity and try to recoup investors' money.<\/p>\n\n\n\n

As both companies ceased paying investors in 2021, it seems that the token sales were a failure.<\/p>\n\n\n\n

U.S. Attorney Damian Williams said, “With these two charges, this Office is delivering a message to all crypto scammers<\/a>: We are coming for you. “Stealing is stealing, even when it's disguised in bitcoin terminology.”<\/p>\n\n\n\n

IcomTech's founder, David Carmona of Queens, New York, was charged with conspiracy to conduct wire fraud, a crime that carries a possible 20-year prison sentence.<\/p>\n\n\n\n

Francisley da Silva, the creator of Forcount, is a native of Curitiba, Brazil. If found guilty of all allegations, he may spend up to 60 years in jail for wire fraud, conspiracy to commit wire fraud, and money laundering.<\/p>\n\n\n\n

The firm's promoters are accused of making false representations, conspiring to commit wire fraud and money laundering, and other offenses.<\/p>\n","protected":false},"excerpt":{"rendered":"

US authorities have charged Nine individuals for founding or promoting two crypto mining and trading businesses that are allegedly Ponzi schemes that raised $8.4 million from investors. The Southern District of New York’s U.S. Attorney’s Office unveiled the indictment on December 14, stating that IcomTech and Forcount, two alleged crypto mining and trading firms , […]<\/p>\n","protected":false},"author":12,"featured_media":42261,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11476],"tags":[12688,12687,4201,4288],"class_list":["post-42257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hacks-and-scams","tag-forcount","tag-icomtech","tag-ponzi-scheme","tag-us-sec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/12\/image-39.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/42257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=42257"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/42257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/42261"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=42257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=42257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=42257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}