Lavish Lifestyles, Fake Profits: IcomTech Promoter Jailed in Crypto Scam Case
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Magdaleno Mendoza, a key figure in the IcomTech cryptocurrency Ponzi scheme, was sentenced to 71 months in federal prison for wire fraud and illegal reentry into the US. His guilty plea occurred in July, highlighting ongoing legal actions against crypto-related fraud.
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The US Department of Justice announced that Magdaleno Mendoza, a senior promoter of the cryptocurrency Ponzi scheme IcomTech, has been sentenced to 71 months in federal prison for his role in the fraud and for illegally reentering the United States after multiple deportations.
The sentence was imposed by US District Judge Paul G. Gardephe following Mendoza’s guilty plea in July to conspiracy to commit wire fraud and illegal reentry.
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