Crypto scammer hit with 20-year prison sentence for role in fraud

Juan Tacuri was sentenced to a maximum of 240 months in prison for his role in the Forcount Ponzi scheme.

According to court documents, Tacuri was a senior backer of the Forcount Ponzi scheme that defrauded thousands of investors, primarily in Spanish-speaking communities. The U.S. District Court for the Southern District of New York, presided over by Judge Analisa Torres, imposed the maximum sentence for his role in the crypto-based scam.

Tacuri, 46, was ordered to pay more than $3.6 million in restitution and forfeit a home in Florida purchased with stolen funds.

Details of crypto scam

Forcount, later known as Weltsys, falsely claimed that it was engaged in crypto mining and trading. Tacuri and other backers told investors they could guarantee daily returns and double their investments within six months.

However, the company was not involved in any legitimate crypto activities. Instead, Forcount operated as a classic Ponzi scheme, using new investments to compensate previous participants while backers enriched themselves.

Update: Four months after pleading guilty, Juan Tacuri was sentenced to 240 months in prison and ordered to forfeit $3,610,718.67 and the title to a Florida home he purchased in part with Forcount Victim funds. Crypto Criminals: https://t.co/ExLjXQJArQ https://t.co/xwFIZSiveC

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The victims were mostly working-class, Spanish-speaking individuals. Tacuri traveled throughout the United States hosting events to attract more investors. These fairs, which ranged from small community gatherings to larger-scale events, featured Tacuri bragging about his financial success and promoting Forcount’s products.

Investors were led to believe that they would achieve financial freedom thanks to these investments.

Tacuri and other backers continued to push the plan, despite complaints mounting as early as 2018 when investors discovered they could not withdraw their funds.

‘Mindexcoin’

To solve liquidity issues, the scheme introduced special tokens called “Mindexcoin”, claiming that they would hold value. These tokens ultimately became worthless, leading to further losses.

Tacuri’s sentence, which included a year’s probation, followed testimony from more than 20 victims during the sentencing.

U.S. Attorney Damian Williams emphasized that Tacuri’s actions were a clear case of fraud disguised as a cutting-edge crypto investment. “Fraud doesn’t work,” Williams said.