American Promoter Behind Forcount Crypto Ponzi Scheme Pleads Guilty to Wire Fraud Conspiracy

CryptoNews.com

2024-06-05 20:44:05

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Tanzeel Akhtar

Last updated:

June 6, 2024 00:44 EDT | 1 min read

Juan Tacuri, 46, from Florida, a promoter in the global crypto Ponzi scheme known as Forcount pleaded guilty to conspiracy to commit wire fraud.

In a statement, the U.S. Attorney’s Office, Southern District of New York described Tacuri as one of the scheme’s most successful promoters who reaped millions of dollars from his participation in the fraud. Tacuri could face up to 20 years in prison and is scheduled to be sentenced on September 24.

As part of his guilty plea, Tacuri has agreed to forfeit nearly $4 million in victim funds and real estate purchased using the funds.

Forcount Lured Victims Through Lavish Expos

Forcount later rebranded to Weltsys targeted Spanish-speaking populations. The firm was a crypto mining and trading firm that promised to earn its victim or investors profits in exchange for their purchase of crypto investment products.

Tacuri reportedly travelled throughout the U.S., wearing designer clothing to such events, he would lavish expos and lure in victims to invest in the schemes, including in the Southern District of New York.

During large-scale events, Tacuri encouraged his victims to invest as a means of achieving “financial freedom” and brag about the amount he earned. The atmosphere of these events is described as “festive and designed to generate excitement.”

Funds were secured from the victims and invested in the Forcount scheme through the purchase of investment products using cash, checks, wire transfers, and crypto.

The victims were given access to an online portal where they could monitor the returns on their investments. Most were unable to withdraw any profits and lost their entire investments.

Victim Funds Spent on Lavish Lifestyle

“With this guilty plea, Juan Tacuri is being held to account for taking advantage of retail investors and selling them a fabricated investment opportunity,” said U.S. Attorney Damian Williams.

“Tacuri brought in millions of dollars in victim funds — funds the victims could not afford to lose — and spent it lavishly on luxury goods and real estate. This office will not stop pursuing Ponzi schemers like Tacuri, particularly where they target regular, working people who are in dire straits financially,” said Williams.

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