In accordance with a Jan. 19 submitting in United States District Courtroom for the Southern District of New York, Decide Jennifer Rochon ordered the forfeiture of $914,000 and for Ochoa to voluntarily give up for his 60-month sentence, starting on March 19. He may have two years of supervised launch.
Marco Ochoa, the previous CEO of crypto mining agency IcomTech, has been sentenced to 5 years in jail following a responsible plea for conspiracy to commit wire fraud.
In September, Ochoa pleaded guilty to one count of conspiracy to commit wire fraud associated to a crypto-based Ponzi scheme at IcomTech. He was CEO of the mining agency from 2018 to 2019.
“IcomTech was one in every of these large-scale copycat cryptocurrency scams and Ochoa, because the purported CEO, performed an necessary position taking IcomTech to scale and finally harming extra victims,” said U.S. Legal professional Damian Williams in September.
In accordance with the Justice Division, IcomTech promised buyers day by day returns on funding merchandise, however they might not withdraw funds. Authorities charged Ochoa and different IcomTech executives in November 2022, roughly three years after the corporate collapsed.
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David Carmona, the founding father of IcomTech, additionally pleaded guilty to one count of conspiracy to commit wire fraud in December 2023. The 4 different former executives named as defendants within the case have entered responsible and never responsible pleas, however Ochoa was the primary to be sentenced.
Many crypto figures have been showing in courtrooms over the past 12 months in response to a crackdown by U.S. authorities. In November 2023, former FTX CEO Sam Bankman-Fried was discovered responsible of seven felony prices and is predicted to be sentenced in March. Former Binance CEO Changpeng Zhao pleaded guilty to one felony count as a part of an settlement between prosecutors and the crypto alternate.
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