Former CEO of Sham Crypto Miner IcomTech Pleads Guilty to Wire Fraud in Ponzi Scheme

Marco Ruiz Ochoa has admitted guilt to a charge of conspiracy to commit wire fraud in the Southern District Court of New York on September 27. This charge is connected to a Ponzi scheme orchestrated by the IcomTech company, where Ochoa served as CEO from its inception in 2018 until 2019.

The United States Justice Department indicated that IcomTech made promises to investors regarding daily returns on investment products. The company claimed to specialize in cryptocurrency mining and trading. To attract customers, promoters organized extravagant expos and other community events worldwide. Additionally, the firm issued its own cryptocurrency, known as the Icom.