Crypto Scam Operator Sentenced to 20 Years in Prison, $3.6 Million Forfeiture

On October 15, 2024, Juan Tacuri, one of the main promoters 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 the victims.

Scam Details

Court documents revealed that Forcount operated on a global scale, 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 mining and trading cryptocurrencies.

Tacuri and his fellow promoters enticed targets to invest by offering them promises of substantial returns, including claims that their investments would double in six months. In reality, no cryptocurrency trading or mining took place. In a typical Ponzi scheme, funds from new investors were used to pay off previous investors while the promoters got richer with the victims’ money.

The 46-year-old was one of the project’s most successful developers, earning millions of dollars. He used the money to live a lavish lifestyle, purchasing real estate and luxury goods in Florida. He also traveled across the United States, organizing flashy exhibitions and small community events to attract more victims.

The events were designed to generate enthusiasm, with Tacuri often wearing designer clothing to enhance the illusion of wealth. He also urged attendees to invest by boasting about his financial success and showcasing Forcount’s investment products as a way to achieve financial freedom.

Excuses and false tokens

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

To maintain the system, Forcount began offering worthless proprietary crypto tokens known as “Mindexcoin,” claiming that their value would eventually increase. These tokens only led to additional financial losses for investors.

In 2021, the system collapsed, leaving most victims without any return on their investment. More than 20 of them provided statements during Tacuri’s sentencing.

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

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