IcomTech crypto scam executive Mendoza sentenced to 71 months in prison

PANews, December 19 — According to an announcement on the official website of the U.S. Department of Justice, 56-year-old Magdaleno Mendoza has been sentenced to 71 months in prison for participating in the IcomTech crypto Ponzi scheme and illegal entry, and has been ordered to pay approximately $789,000 in restitution, forfeit $1.5 million, and his California property. Mendoza was a core promoter of IcomTech, leading fraudulent activities targeting Spanish-speaking working-class groups since 2018, promising false investment returns, and had assisted in several similar schemes. IcomTech collapsed in 2019, with victims across the United States. The founder Carmona and former CEO Ochoa were both sentenced in 2024.