According to CryptoPotato, Juan Tacuri, a 46-year-old resident of Greenacres, Florida, and a key promoter of the Forcount cryptocurrency Ponzi scheme, has admitted to conspiracy to commit wire fraud in the Southern District of New York. The fraudulent scheme, which primarily targeted Spanish-speaking investors, amassed $8.4 million and has been characterized as a shocking fraud exploiting vulnerable communities. Damian Williams, the United States Attorney for the Southern District of New York, announced Tacuri’s plea before U.S. District Judge Analisa Torres.

Williams stated that Tacuri is being held accountable for exploiting retail investors by selling them a fabricated investment opportunity. Tacuri collected millions of dollars from victims, money they could ill afford to lose, and squandered it on luxury goods and real estate. Tacuri, who played a significant role in promoting the fraudulent investment opportunity, is scheduled to be sentenced on September 24, 2024. He faces a maximum sentence of 20 years in prison for his role in the conspiracy. As part of his plea agreement, Tacuri will also forfeit nearly $4 million and certain real estate purchased with victim funds.

Forcount, later known as Weltsys, presented itself as a cryptocurrency mining and trading company, falsely promising guaranteed daily returns and the doubling of investments within six months. Tacuri and other promoters attracted victims through lavish expos and community presentations, portraying the scheme as a route to financial freedom. Victims were persuaded to invest via cash, checks, wire transfers, and cryptocurrency. They were also given access to an online portal displaying fake profits. However, most were unable to withdraw their purported earnings, ultimately losing their entire investments. Tacuri and other promoters, meanwhile, diverted substantial amounts of money for personal luxuries and further promotion of the scheme. Despite the grievances, Tacuri continued to promote the scheme and accept investments. By 2021, the scheme had stopped payments to victims, and Tacuri and other promoters ceased responding to complaints.