Ponzi scheme dominantly focused on Spanish-speaking communities.
Tacuri will be sentenced in September and agreed to return victims’ funds.
Juan Tacuri, a senior promoter of the Forcount cryptocurrency Ponzi scheme, has pleaded guilty to conspiracy to commit wire fraud. The plea was entered before Judge Analisa Torres at the Southern District of New York (SDNY) court, and he is set to be sentenced in New York in September for 20 years.
The Forcount Ponzi scheme, rebranded as Weltsys, was a fraudulent investment operation that promised substantial returns through various cryptocurrency ventures. It assured investors that their investments in Forcount, a crypto mining and trading firm, would double within six months.
However, instead of producing legitimate profits, Forcount used funds from new investors to pay earlier investors, a characteristic of a Ponzi scheme. This predominantly targeted Spanish-speaking communities worldwide and acquired $8.4 million from the investors.
Today @SDNYLIVE JUAN TACURI, a senior promoter in the cryptocurrency Ponzi scheme known as Forcount (later Weltsys), pled guilty to conspiracy to commit wire fraud before Judge Analisa Torres. The Forcount scheme principally targeted Spanish-speaking populations pic.twitter.com/fhnlEa98w7
— Inner City Press (@innercitypress) June 5, 2024
His involvement was mentioned in organizing promotional U.S. events, disseminating false information about its profitability, assuring investors of its legitimacy, and profiting millions of dollars from it.
On June 6, 2024, Tacuri admitted his role in the conspiracy to commit wire fraud before the court. During the court proceedings, it was revealed that Tacuri was aware of the fraudulent nature of Forcount and actively participated in deceiving investors. It also highlights the ongoing efforts of the SDNY to bring those involved in financial fraud to justice. As part of his plea, Tacuri has agreed to return approximately $4 million to his victims and surrender the landholdings acquired with the victims’ funds.
Highlighted News of the Day
Early Shiba Inu Whale Awakens After 2.6 Years, Acquires 323 Billion SHIB