An IcomTech crypto Ponzi scheme salesman has been sentenced to 71 months in prison.

According to Mars Finance, as reported by Decrypt, Magdaleno Mendoza, a senior salesman at IcomTech, has been sentenced to 71 months in prison by a U.S. federal court for operating a cryptocurrency Ponzi scheme targeting Hispanic investors. The scheme, masquerading as cryptocurrency mining and trading and promising fixed returns, was in reality a classic multi-level marketing (MLM) operation. The court also ordered Mendoza to pay nearly $790,000 in restitution and forfeit $1.5 million in assets. According to the U.S. Attorney's Office for the Southern District of New York, IcomTech was founded in mid-2018 and collapsed at the end of 2019, leaving investors with millions of dollars in losses. Mendoza had promoted at least two other cryptocurrency scams and participated in three more similar schemes after IcomTech's collapse.