The U.S. District Court for the Southern District of New York has sentenced Juan Tacuri, a senior promoter of the Forcount Ponzi scheme, to the maximum prison term.

Details of the Fraud Scheme

Forcount, later rebranded as Weltsys, falsely promoted itself as involved in crypto mining and trading, guaranteeing investors returns. In reality, it was a classic Ponzi scheme, using new investments to pay earlier participants.

Tacuri's Role in the Scheme

Juan Tacuri, a senior promoter of Forcount, travelled across the U.S. hosting events aimed at attracting investors, primarily among Spanish-speaking working-class individuals, promising them financial freedom despite complaints about withdrawal issues emerging since 2018.

Consequences and Court Reaction

Tacuri was sentenced to 240 months in prison, fined over $3.6 million, and required to forfeit property purchased with illegal funds. The court heard impact statements from more than 20 victims. U.S. Attorney Damian Williams emphasized that Tacuri's actions were a clear case of fraud disguised as advanced crypto investing.

The sentencing of Tacuri marks the conclusion of a major cryptocurrency fraud case, highlighting the need for accountability and transparency in investments.