Crypto Scam Leader Gets 20 Years, Must Forfeit $3.6 Million

On October 15, 2024, Juan Tacuri, a prominent figure in the cryptocurrency Ponzi scheme Forcount, received a sentence of 20 years in federal prison, followed by one year of supervised release.

The resident of Florida was also mandated to forfeit a property acquired with funds from the scam, along with $3.6 million in assets, and to pay a matching amount in restitution to the victims.

Details of the Fraud

Court filings indicated that Forcount functioned on a global scale, deceiving thousands of individuals, primarily targeting Spanish-speaking communities across the United States. Eventually rebranded as Weltsys, the con drew investors in with false assurances of guaranteed profits from cryptocurrency mining and trading.

Tacuri and his cohorts lured potential investors by promising significant returns, including assertions that their investments would double within a six-month period. In actuality, no cryptocurrency trading or mining took place. Following the classic methodology of a Ponzi scheme, contributions from new investors were utilized to pay earlier ones, while the promoters thrived at the expense of their victims.

At 46 years old, Tacuri emerged as a leading promoter of the scheme, amassing millions. He used these funds to fund a luxurious lifestyle, acquiring real estate in Florida and high-end goods. Tacuri also traveled throughout the U.S., hosting extravagant expos and smaller community gatherings to attract more victims.

The events were orchestrated to build enthusiasm, with Tacuri frequently donning designer attire to perpetuate the façade of wealth. He motivated attendees to invest by boasting about his own financial achievements and portraying Forcount’s investment offerings as a pathway to financial independence.

Excuses and Deceptive Tokens

Victims were able to monitor their alleged profits through a fraudulent online platform, but most found themselves unable to withdraw their funds. Consequently, complaints began emerging as early as 2018. However, Tacuri and other promoters responded with an array of excuses, delays, and hidden charges.

To perpetuate the scam, Forcount started distributing worthless proprietary crypto-tokens referred to as “Mindexcoin,” claiming they would eventually appreciate in value. These tokens merely resulted in further monetary losses for investors.

By 2021, the scheme had unraveled, leaving the majority of victims with no returns on their investments. More than 20 victims presented impact statements during Tacuri’s sentencing.

The U.S. Department of Justice charged the 47-year-old in December 2022, alongside his associates Francisley Da Silva and Antonia Perez Hernandez. Both Silva and Tacuri faced additional charges of conspiracy to commit money laundering.

He entered a guilty plea in June 2024 before U.S. District Judge Annalisa Torres, renowned for her 2023 decision regarding programmatic XRP sales, and has been awaiting sentencing since that time.