‘Forcount’ Crypto Ponzi Scammer Pleads Guilty

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  • A Florida man has admitted his involvement in the Forcount crypto Ponzi scheme
  • Juan Tacuri helped defraud investors of approximately $8.4 million through the scam
  • Investors have been misled into believing their money was used for crypto mining and trading

Juan Tacuri, a key promoter in the Forcount crypto Ponzi scheme, has admitted his involvement in the fraudulent operation. Federal prosecutors revealed yesterday that Forcount, a co-conspirator in the Brazil-based scam, was instrumental in defrauding Spanish-speaking investors worldwide of approximately $8.4 million. Investors were told that their money was going into a cryptocurrency mining and trading platform when in fact it was lining the pockets of the creators.

Forcount Operators Spent Investors’ Money

Tacuri, 46, from Florida, and his co-conspirators lured investors with promises that their investments in Forcount would double within six months, a typical tactic for operators of crypto investment scams. However, prosecutors revealed that Forcount never engaged in any mining or trading activities, with Tacuri and his associates operating a classic Ponzi scheme, using funds from new investors to pay returns to earlier investors while enriching themselves with luxury goods and real estate.

Prosecutors highlighted Tacuri’s extensive efforts to attract new investors, which included traveling across the United States, hosting extravagant expos where he made grand promises of “financial freedom” and flaunted his wealth by wearing designer clothes and boasting about his earnings.

Tacuri Makes it a Hattrick

In 2022, the US Securities and Exchange Commission (SEC) took civil action against Tacuri and three others involved in the scheme for violating the Securities Act, parallel to the criminal charges filed in New York. The prior year, two other promoters of the Forcount scheme were arrested and charged with fraud.

Tacuri entered a guilty plea to one count of conspiracy to commit wire fraud in the Southern District of New York, a charge that can result in a prison sentence of up to 20 years. As part of his plea agreement, Tacuri has also agreed to return nearly $4 million to the victims and to forfeit real estate purchased with the fraudulent funds.

Sentencing will take place on September 24 and will be overseen by District Judge Analisa Torres, who is also presiding over the SEC’s case against the crypto firm Ripple.