On October 22, 2025, Moses Valdez, a key promoter in the iComTech cryptocurrency Ponzi scheme, was sentenced to 366 days in prison for his role in defrauding investors of over $8 million, per DOJ records. Valdez, who sought credit for time served, pleaded guilty in mid-2024 to three counts of wire fraud and one count each of conspiracy to commit wire fraud and operating an unlicensed money transmitting business, per. The Southern District of New York court imposed the sentence, followed by three years of supervised release.
iComTech, an MLM crypto Ponzi that collapsed in late 2019, promised 0.9%–2.8% daily returns from fake crypto mining and trading, per. Founders David Carmona and promoters Marco Ruiz Ochoa, Juan Arellano, David Brend, and Gustavo Rodriguez lured victims with events in luxury cars, paying early investors with new funds, per. Valdez is jointly liable for $789,218 in restitution with co-defendants, per. Carmona and Brend received 10-year sentences in 2024, Ochoa faces up to 20 years post-guilty plea, and Rodriguez got 8 years.
Valdez filed an appeal on November 6, 2025, joining Brend’s challenge, with no rulings yet, per. The CFTC secured a $5M penalty in December 2024 for violations, per. iComTech’s fallout highlights MLM crypto risks, with $722M losses across similar schemes like BitClub Network, per. Bitcoin (BTC) at $113,234 remains stable, per CoinMarketCap, but the case underscores DOJ enforcement under SEC Chair Paul Atkins.
Verify investments via sec.gov and avoid MLM schemes promising high returns, per. Diversify into USDC or ETH ($4,070) with stop-losses below BTC’s $112,000, per TradingView. Follow @TheBlock__ on X for updates. Restitution claims can be filed via the victim portal.
