US Regulator Charges Five in a “Fraudulent Digital Assets Trading Scheme” After They Targeted Spanish-Speaking Communities
A US regulator charges five people on Wednesday for allegedly “fraudulently soliciting” money from more than 170 people for a company called Icomtech to trade bitcoin and other assets for them.
The Commodity Futures Trading Commission filed a complaint in the US District Court for the Central District of California against David Carmona, Juan Arellano Parra, Moses Valdez, David Brend and Marco A.
Ruiz Ochoa — who all did business as Icomtech, the regulator said.The five misappropriated customer funds and specifically “targeted Spanish-speaking communities,” the CFTC said.
From August 2018 through December 2019, the five and other Icomtech agents “falsely represented they would use the money to trade Bitcoin and other digital asset commodities for the customers,” would provide returns and would double customers’ money within months, the regulator said.
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