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IcomTech Executives Ordered To Pay $5 Million
In a recent ruling, the Los Angeles federal court has ordered five top executives of IcomTech to pay a staggering sum of $5 million for their involvement in running a massive scam that defrauded over 190 individuals, including those from the United States and other countries.
According to reports, IcomTech had promised its investors that they would receive a percentage of the profits generated by a fake crypto mining and trading platform. Instead, the scammers misused most of the funds, leaving their victims with huge financial losses.
The court found the five executives guilty of violating the U.S. Commodity Exchange Act and other regulations set by the country’s commodities watchdog, CFTC (Commodity Futures Trading Commission).
Source: fullycrypto.com
