[IcomTech Crypto Ponzi Scheme Promoter Sentenced to 71 Months in Prison] According to a report by Decrypt, as cited by Jinse Finance, IcomTech senior promoter Magdaleno Mendoza 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, disguised as cryptocurrency mining and trading, promised fixed returns but was, in reality, a classic multi-level marketing model. 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 established in mid-2018 and collapsed by the end of 2019, causing investors to lose millions of dollars. Mendoza had promoted at least two other crypto scams and participated in three similar schemes after IcomTech's collapse.