A cryptocurrency promoter was sentenced to 20 years in prison for running a Ponzi scheme that defrauded thousands of investors, particularly in Spanish-speaking U.S. communities. The scheme, disguised as a crypto mining operation, promised guaranteed returns but left victims unable to withdraw funds while promoters pocketed millions. The fraudster was ordered to forfeit over $3.6 million.
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. The scheme, which later rebranded as Weltsys, targeted thousands of investors, especially in Spanish-speaking U.S. communities.
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. U.S. Attorney Damian Williams condemned Tacuri’s actions, stating:
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 added that Tacuri took “millions of dollars from working class victims” for his personal gain and emphasized that “fraud does not pay.”
Forcount falsely claimed to be a cryptocurrency mining and trading company, promising guaranteed returns and investment doubling within six months. As Williams explained:
Forcount was a purported cryptocurrency mining and trading company that promised to earn its victim-investors profits.
Instead, it was a fraudulent scheme. Tacuri promoted the operation through lavish expos, enticing investors with promises of financial freedom. Victims could see their supposed profits online but could rarely withdraw funds, while promoters like Tacuri spent victim money on personal luxuries. Despite growing complaints, Tacuri continued promoting Forcount. He falsely claimed proprietary tokens, “Mindexcoin,” would become valuable, but they were worthless and deepened investor losses. By 2021, the scheme stopped payments, and promoters, including Tacuri, ceased responding to victims.
Alongside his 20-year prison sentence, Tacuri, 46, from Greenacres, Florida, was sentenced to one year of supervised release and ordered to forfeit over $3.6 million, including his Florida home. He must also pay $3.6 million in restitution to the victims.
Source: Bitcoin
