The post IcomTech execs set to pay over $5M for fake Bitcoin trading scheme appeared first on Daily Truth Report • DailyTruthReport.com.

Cointelegraph

IcomTech execs set to pay over $5M for fake Bitcoin trading scheme

At least four of IcomTech’s operators are now behind bars after receiving prison sentences of up to 10 years this year.

Cryptocurrency News | Cryptocurrency Prices | Market Cap

The Securities and Exchange Commission today charged Chibuzo Augustine Onyeachonam, Stanley Chidubem Asiegbu, and Chukwuebuka Martin Nweke-Eze with fraud for impersonating legitimate securities brokers and investment advisers in an elaborate online... More information at SECLaw.com Read the Full Press Release   
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.

LexBlog

SEC Charges Three Individuals with Impersonating Financial Professionals in Fraud Scheme Targeting Retail Investors

The U.S. Securities and Exchange Commission charged three individuals on Dec. 11 with impersonating securities brokers and investment advisers to execute a scheme involving digital assets. The complaint names three Nigerian nationals and alleges that their actions diverted more than $2.9 million from at least 28 investors by directing them toward fraudulent platforms, then instructing…

Crypto Digital Currency News ©

SEC charges three people for impersonating securities brokers in $2.9 million Bitcoin-related scam

The U.S. Securities and Exchange Commission charged three individuals on Dec. 11 with impersonating securities brokers and investment advisers to execute a scheme involving digital assets. The complaint names three Nigerian nationals and alleges that their actions diverted more than $2.9 million from at least 28 investors by directing them toward fraudulent platforms, then instructing them to purchase Bitcoin at legitimate brokerages or crypto e…

CryptoSlate

A federal
court has ordered five individuals associated with Icomtech to pay more than $5 million in penalties for
orchestrating a sophisticated digital asset fraud scheme that targeted nearly
200 investors worldwide.Digital Asset Scheme
Operators Hit With $5M Penalty, Prison TermsThe U.S.
District Court for the Central District of California issued orders against the
operators of Icomtech, who fraudulently solicited over $1 million from 190
inv…

Finance Magnates | Financial and business news

This Crypto Trading Scheme Results in Prison Terms, Million-Dollar Fines

A California court has ordered five individuals involved in the cryptocurrency mining and trading firm IcomTech to pay over $5 million in penalties and restitution for defrauding investors. The Commodity Futures Trading Commission (CFTC) announced the judgment on Dec. 11, following its lawsuit filed in May 2023. The court accused the operation of defrauding tens of thousands of individuals out of millions of dollars, exploiting working people’s …

FinanceFeeds

California Court Orders $5M Penalty In IcomTech Ponzi Scheme - FinanceFeeds

U.S. authorities allege that men primarily posed as female advisors The post Nigerian scammers impersonating legit advisors: SEC appeared first on Investment Executive.

Investment Executive

Nigerian scammers impersonating legit advisors: SEC

Five people have been fined more than $5 million by a California court for their roles in the “Ponzi” scheme run by IcomTech. The conspiracy featured a fraudulent Bitcoin trading operation and a misuse of stolen cash. According to a statement released by the CFTC on December 11, the following individuals were found liable by the default judgment order: David Carmona, Juan Arellano Parra, Moses Valdez, and David Brend. Marco A. Ruiz Ochoa was iss…

TechJuice

IcomTech Execs Hit with $5M Fine Over Fake Bitcoin Trading

The U.S. Securities and Exchange Commission has charged three Nigerian nationals with defrauding investors of $2.9 million in Bitcoin.  According to the SEC, the individuals used fake websites, social media, and voice-altering software to impersonate legitimate financial professionals, targeting at…

IcomTech execs set to pay over $5M for fake Bitcoin trading scheme

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