While the pressure of the US regulators SEC and CFTC on the crypto money sector continues to be felt more and more every day, the CFTC has sued five people for alleged Bitcoin (BTC) and cryptocurrency fraud.
According to the news of Crypto Potato, the CFTC has sued five people for defrauding investors by falsely promoting Bitcoin and cryptocurrency trading services.
The CFTC identified the five as David Carmona, Juan Arellano Para, Moses Valdez, David Brend and Marco A. Ruiz Ochoa.
In the lawsuit filed, the CFTC stated that these five people wanted to help investors with their BTC and crypto investments, and claimed that they took their money from the investors, but they embezzled themselves by not buying crypto with this money.
These five people who founded the cryptocurrency trading platform Icomtech promised their customers that between 2018 and 2019 they will receive 0.9% and 2.8% daily returns from crypto trading.
In addition, these five people promised their clients to double their investment in four to eight months as part of their fraud scheme.
However, the platform called Icomtech was never used by these five people, nor was Bitcoin or crypto traded with the money they received. Again, the defendants did not fulfill the promises they made to their customers.
In the CFTC lawsuit, he said that the defendants, who are the founders of Icomtech, have collected hundreds of thousands of dollars from more than 170 people in the USA and other countries, and the target audience is generally Spanish-speaking customers.
*Not investment advice
