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06/06/24
264
Crypto Ponzi Scheme Promoter Faces Twenty Years Imprisonment in New York
On June 5, the United States Attorney’s Office of the Southern District of New York published a press statement noting that a senior promoter in the crypto Ponzi scheme called Forcount as well as later called Weltsys pled guilty before the court.
The senior promoter, known as Juan Tacuri, appeared before United States District Judge Analisa Torres, pleading guilty to conspiracy to commit wire fraud, based on his successful promotion of the fraud.
“Forcount was a purported cryptocurrency mining and trading company that promised to earn its victim-investors (“Victims”) profits in exchange for their purchase of purported cryptocurrency-related investment products.”
The people behind the scheme promised their victims guaranteed daily returns for investing in their crypto mining and trading ventures. They falsely claimed that the victims’ investment will be doubled in six months.
However, they did not use investors’ funds for crypto mining and trading but continued to use them to promote the scheme, pay other investors, as well as for personal purposes. Victims bought investment products from promoters through cash, checks, wire transfers, and crypto, and then provided access to an online portal to monitor their purported returns.
Unfortunately, they were seeing profits on the portal, but withdrawal was not possible, and they eventually lost their entire investments. Promoters like Tacuri obtained victims’ funds and started living lavishly. Victims’ complaints were met with different excuses while the promoters continued to promote and accept more money from new investors.
“As complaints mounted, Forcount began offering proprietary crypto-tokens for sale as a means of injecting liquidity into the scheme. TACURI claimed that these tokens, known as “Mindexcoin,” would eventually be worth a significant amount of money when they were accepted by companies for payment for goods and services. This was false,” reads the press statement.
The tokens were worthless, and the victims lost their money. Tacuri is facing a maximum sentence of 20 years imprisonment with part of his guilty plea including agreement to forfeit almost $4 million and certain real estate bought using victim funds. His sentencing is scheduled for September 24, 2024.
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