Ponzi

2024

United

Token

On October 15, 2024, Juan Tacuri, a senior promoter of the cryptocurrency Ponzi scheme Forcount, was sentenced to 20 years in federal prison and one year of supervised release.
The Florida resident was also ordered to forfeit a home bought with scam proceeds, $3.6 million in assets, and pay an equivalent amount in restitution to victims.
<h2 id="details-of-the-scam">Details of the Scam</h2>
Court documents <a href="https://www.justice.gov/usao-sdny/pr/senior-promoter-cryptocurrency-ponzi-scheme-sentenced-240-months-prison" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">revealed</a> that Forcount operated globally, defrauding thousands of victims with a particular focus on Spanish-speaking communities in the United States. Later rebranded as Weltsys, the scam lured investors with false promises of guaranteed profits from cryptocurrency mining and trading.
Tacuri and his fellow promoters enticed targets to invest by offering promises of substantial returns, including claims that their investments would double within six months. In reality, no cryptocurrency trading or mining occurred. Following the typical pattern of a Ponzi scheme, funds from new investors were used to pay earlier ones while the promoters enriched themselves with the victims’ money.
The 46-year-old was among the most successful promoters of the scheme, earning millions of dollars. He used the money to support a lavish lifestyle, buying Florida real estate and luxury goods. He also traveled across the U.S., hosting flashy expos and smaller community events to attract more victims.
The events were designed to generate excitement, with Tacuri often wearing designer clothing to reinforce the illusion of wealth. He also urged attendees to invest by boasting about his financial success and presenting Forcount’s investment products as a way to achieve financial freedom.
<h2 id="excuses-and-fake-token">Excuses and Fake Token</h2>
Victims could track their supposed profits through a fake online portal, but most were unable to withdraw any of their funds. As a result, complaints began surfacing as early as 2018. However, Tacuri and other promoters responded with excuses, delays, and hidden fees.
To keep the scheme going, Forcount began offering worthless proprietary crypto-tokens known as “<a href="https://cryptopotato.com/market-watch-bitcoin-rebounds-above-8500-altcoins-surge/#:~:text=Mindexcoin%20(703%25),last%2024%20hours." target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Mindexcoin</a>,” claiming they would eventually increase in value. These tokens only led to further financial losses for investors.
By 2021, the scheme had collapsed, leaving most victims without any return on their investments. Over 20 of them provided impact statements during Tacuri’s sentencing.
The U.S. Department of Justice charged the 47-year-old in December 2022, alongside associates Francisley Da Silva and Antonia Perez Hernandez. Silva and Tacuri faced additional charges of conspiracy to commit money laundering.
He entered a <a href="https://cryptopotato.com/juan-tacuri-pleads-guilty-in-8-4-million-forcount-crypto-ponzi-scheme/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">guilty</a> plea in June 2024 before U.S. District Judge Annalisa Torres, famous for her 2023 ruling on programmatic XRP sales, and has been awaiting sentencing since then.
The post <a href="https://cryptopotato.com/crypto-scam-operator-sentenced-to-20-years-ordered-to-forfeit-3-6m/" rel="noopener noreferrer nofollow">Crypto Scam Operator Sentenced to 20 Years, Ordered to Forfeit $3.6M</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Crypto Scam Operator Sentenced to 20 Years, Ordered to Forfeit $3.6M

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