Crypto scammer hit with 20-year prison sentence for role in fraud

Juan Tacuri has been sentenced to a most of 240 months for his position within the Forcount Ponzi scheme.
Tacuri was a senior promoter within the Forcount Ponzi scheme that defrauded hundreds of traders, primarily in Spanish-speaking communities, according to court docket paperwork. The U.S. District Court docket for the Southern District of New York, beneath Decide Analisa Torres, delivered the utmost sentence for his position within the crypto-based fraud.
Tacuri, 46, was ordered to pay over $3.6 million in restitution and forfeit a house in Florida that was bought with stolen funds.
Crypto fraud particulars
Forcount, later referred to as Weltsys, falsely claimed to engage in crypto mining and buying and selling. Tacuri and different promoters advised traders they might assure every day returns and double their investments inside six months.
Nonetheless, the corporate was not concerned in any professional crypto actions. As an alternative, Forcount operated as a traditional Ponzi scheme, utilizing new investments to repay earlier members whereas its promoters enriched themselves.
Victims have been primarily working-class, Spanish-speaking people. Tacuri traveled throughout america, internet hosting occasions to draw extra traders. These expos, starting from small neighborhood gatherings to larger-scale occasions, featured Tacuri boasting about his monetary success and selling Forcount’s merchandise.
Traders have been led to consider they’d obtain monetary freedom by means of these investments.
Regardless of mounting complaints as early as 2018, when traders found they might not withdraw funds, Tacuri and different promoters continued to push the scheme.
‘Mindexcoin’
To handle liquidity points, the scheme launched proprietary tokens referred to as “Mindexcoin,” claiming they’d maintain worth. These tokens in the end grew to become nugatory, resulting in additional losses.
Tacuri’s sentence, which incorporates one yr of supervised launch, follows influence statements from greater than 20 victims in the course of the sentencing.
U.S. Legal professional Damian Williams emphasised that Tacuri’s actions have been a transparent case of fraud disguised as cutting-edge crypto investing. “Fraud doesn’t pay,” Williams acknowledged.