TechFlow reported that former IcomTech executive Marco Ruiz Ochoa admitted on Wednesday to participating in a cryptocurrency Ponzi scheme and could face up to 20 years in prison.
IcomTech, which claimed to be a cryptocurrency mining and trading company, promised investors profits in exchange for purchasing so-called cryptocurrency-related investment products. Prosecutors said IcomTech's cryptocurrency trading and mining operations did not actually exist, and investor funds were instead used for other schemes and personal expenses.




