Juan Tacuri, a Florida resident, has admitted to his role in a sophisticated wire fraud conspiracy linked to the Forcount crypto Ponzi scheme.
Tacuri, aged 46, entered a guilty plea to one count of conspiracy to commit wire fraud in the Southern District of New York, facing up to 20 years behind bars.
His plea agreement includes the forfeiture of nearly $4 million, intended to be returned to the defrauded victims. Additionally, he will relinquish real estate assets acquired through the illicit funds
Forcount, originally a Brazil-based operation, lured Spanish-speaking investors worldwide with the false promise of doubling their investments within six months. Instead of engaging in legitimate crypto mining and trading, the scheme relied on new investor funds to pay earlier participants, a classic hallmark of a Ponzi scheme.
Authorities revealed that Tacuri and his associates orchestrated “lavish expos” across the United States, enticing potential investors with the allure of financial freedom.
He actively traveled across the United States, hosting grand expos and community presentations designed to lure investors with the dream of financial freedom. Flaunting his wealth, often clad in designer attire, he embodied the success he promised to others, all the while funneling their investments into his own lavish lifestyle.
According to the SEC’s release, as early as in or about April 2018, victims who attempted to withdraw money from their online portal accounts had difficulty doing so, and when they complained to promoters, such as TACURI, they were met with excuses, delays, and hidden fees, if they were able to make any withdrawals at all.
See also: 3 Ways to Spot and Avoid Crypto Scams in 2024
Despite these complaints, Forcount’s promoters, including TACURI, continued to promote the fraudulent scheme and accept Victims’ investments. As complaints mounted, Forcount began offering proprietary crypto-tokens for sale as a means of injecting liquidity into the scheme.
He claimed that these tokens, known as “Mindexcoin,” would eventually be worth a significant amount of money when they were accepted by companies for payment for goods and services.
With his sentencing scheduled for September 24, 2024, this case serves as a stark reminder of the risks associated with cryptocurrency investments and the importance of diligent research especially.
As the cryptocurrency industry continues to mature, incidents like these show the critical need for transparency and ethical practices.
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