Cryptocurrency Promoter Sentenced to 20 Years in Prison for Ponzi Scheme

Juan Tacuri, a key promoter in the global cryptocurrency Ponzi scheme Forcount, was sentenced to 240 months in prison by U.S. District Judge Analisa Torres on Tuesday.

A cryptocurrency promoter was sentenced to 20 years in prison on Tuesday for his role in a massive Ponzi scheme that defrauded thousands of investors, particularly in Spanish-speaking U.S. communities.

The scheme, which was disguised as a crypto mining operation, promised guaranteed returns but left victims unable to withdraw their funds while promoters pocketed millions. The fraudster was also ordered to forfeit over $3.6 million.

Juan Tacuri, 46, of Greenacres, Florida, was sentenced by U.S. District Judge Analisa Torres in Manhattan to 240 months in prison, one year of supervised release, and ordered to forfeit $3,644,646, which includes his Florida home and a 2020 Mercedes-Benz GLS450. He was also sentenced to pay $3,644,646 in restitution to the victims.

Tacuri, a key promoter in the global cryptocurrency Ponzi scheme Forcount, was sentenced for his role in the scheme, which later rebranded as Weltsys. The scheme targeted thousands of investors, especially in Spanish-speaking U.S. communities, from 2017 to 2021. Promoters, like Tacuri, enticed victims to invest in Forcount, which later became Weltsys, promising guaranteed returns and doubling their investment within six months.

Forcount falsely claimed to be a cryptocurrency mining and trading company, promising to earn its victim-investors profits. Instead, it was a fraudulent scheme, according to U.S. Attorney Damian Williams.

Tacuri, one of its most successful promoters, amassed millions, using the funds for luxury purchases and Florida real estate. His sentencing followed impact statements from over 20 victims who lost their investments.

“Juan Tacuri may have claimed to be involved in cutting-edge cryptocurrency investing, but, in reality, he was running one of the oldest tricks in the book: a Ponzi scheme,” Williams said in a statement. “Tacuri took millions of dollars from working class victims for his personal gain. Fraud does not pay, and we will continue to work to ensure that fraudsters like Tacuri are held accountable for their crimes.”

As Williams explained, Forcount was a purported cryptocurrency mining and trading company that promised to earn its victim-investors profits.

Victims could see their supposed profits online but could rarely withdraw their funds, as promoters, like Tacuri, spent the victim money on personal luxuries, such as jewelry, lavish parties, and real estate in Florida and the Dominican Republic. Despite growing complaints from victims, who were unable to withdraw their promised returns, Tacuri continued to promote Forcount.

The scheme later stopped making payments to investors, and promoters, including Tacuri, ceased responding to the victims.

Tacuri also falsely claimed that a proprietary cryptocurrency token, called “Mindexcoin,” would become valuable, but the tokens were ultimately worthless, deepening the investors’ losses. By 2021, the scheme stopped making payments to investors, and promoters, including Tacuri, ceased responding to the victims.

The cryptocurrency Ponzi scheme spanned several countries, including the United States, and defrauded thousands of victims, mainly from Spanish-speaking communities. The promoters, like Tacuri, used lavish expos and events to showcase Forcount’s supposed success, promising investors financial freedom and guaranteed returns.

What do you think about Juan Tacuri’s role in this cryptocurrency Ponzi scheme and his 20-year prison sentence? Let us know in the comments section below.

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