Juan Tacuri, a key figure in the Forcount Ponzi scheme, has been handed a 20-year prison sentence by the U.S. District Court for the Southern District of New York. The scheme, which later rebranded as Weltsys, targeted thousands of investors, particularly in Spanish-speaking communities.
The court found Tacuri guilty of deceiving investors by promising daily returns and doubling their investments within six months through crypto mining and trading activities. However, it was revealed that Forcount was operating as a Ponzi scheme, using funds from new investors to pay off earlier participants while the promoters enriched themselves.
In addition to the lengthy prison term, Tacuri has been ordered to pay over $3.6 million in restitution and forfeit a home in Florida that was purchased using stolen funds. The court’s decision came after more than 20 victims provided impact statements detailing the financial losses they suffered due to the fraudulent scheme.
Throughout the scheme’s operation, Tacuri traveled around the United States, organizing events to lure in more investors. These events, ranging from small community gatherings to larger expos, featured Tacuri flaunting his financial success and promoting Forcount’s fraudulent products, giving investors false hope of achieving financial freedom.
Despite numerous complaints from investors starting in 2018 when they were unable to withdraw their funds, Tacuri and other promoters continued to push the scheme forward. To address liquidity issues, the scheme introduced “Mindexcoin” tokens, claiming they would retain value. However, these tokens ended up being worthless, causing further financial harm to investors.
The sentencing of Juan Tacuri, which also includes one year of supervised release, highlights the severity of his actions. U.S. Attorney Damian Williams emphasized that Tacuri’s fraudulent activities under the guise of crypto investing were a clear case of deceit. Williams warned that fraudsters would not get away with such crimes, sending a strong message to those engaged in similar illicit activities.