Cryptocurrency scam operator sentenced to 20 years, ordered to forfeit $3.6 million

On October 15, 2024, Juan Tacuri, a major promoter of the Ponzi Forcount cryptocurrency scheme, was sentenced to 20 years in federal prison and one year of supervised release.

The Florida resident was also ordered to forfeit a home purchased with the proceeds of the scam, $3.6 million in assets and pay an equal amount in restitution to victims.

Details of the scam

Court documents revealed that Forcount operated globally, defrauding thousands of victims with a particular focus on Spanish-speaking communities in the United States. Later renamed 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. No cryptocurrency trading or mining actually took place. Following the typical pattern of a Ponzi scheme, the funds of the new investors were used to pay off the previous ones, while the promoters enriched themselves with the money of the victims.

The 46-year-old was one of the most successful promoters of the scheme, earning millions of dollars. He used the money to support a lavish lifestyle, buying real estate and luxury items in Florida. He also traveled the United States, organizing flashy exhibitions and smaller community events to attract more victims.

The events were designed to generate excitement, with Tacuri often wearing designer clothes to reinforce the illusion of wealth. He also urged attendees to invest by boasting about their financial success and presenting Forcount’s investment products as a way to achieve financial freedom.

Excuses and fake tokens

Victims were able to track their supposed benefits through a fake online portal, but most were unable to withdraw any of their funds. As a result, complaints began to emerge as early as 2018. However, Tacuri and other promoters responded with excuses, delays and hidden fees.

To sustain the scheme, Forcount began offering worthless proprietary crypto-tokens known as “Mindexcoin”, claiming that they would eventually increase in value. These chips only led to more financial losses for investors.

By 2021, the scheme had collapsed, leaving most victims without any return on their investments. More than 20 of them made impact statements during Tacuri’s sentencing.

The United States Department of Justice indicted the 47-year-old in December 2022, along with his associates Francisley Da Silva and Antonia Pérez Hernández. Silva and Tacuri faced additional charges of conspiracy to commit money laundering.

He pleaded guilty in June 2024 before US District Judge Annalisa Torres, famous for her 2023 ruling on XRP programmatic sales, and has been awaiting sentencing ever since.

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