As a seasoned crypto investor who has witnessed the rise and fall of various projects over the years, I can’t help but feel a sense of dismay and disappointment upon hearing about the sentencing of Juan Tacuri, the mastermind behind the Forcount/Weltsys Ponzi scheme.
On October 15, 2024, Juan Tacuri, a key figure in the Forcount cryptocurrency scam, received a 20-year sentence in a federal penitentiary, followed by a year under supervision upon his release.
In addition to his residency in Florida, the individual was mandated to relinquish a property purchased with ill-gotten gains, worth approximately $3.6 million, as well as compensate the affected parties in an equal amount for restitution.
Details of the Scam
Records showed that Forcount, previously known as Weltsys, had a global reach, swindling thousands of victims – particularly Spanish-speaking communities in the U.S. They were enticed by misleading claims about assured earnings from digital currency mining and trading, which ultimately proved to be fraudulent.
Tacuri and his associates lured potential investors by promising large profits, even suggesting that their investments would double in just half a year. However, it turned out that no actual cryptocurrency trading or mining took place as claimed. Instead, this scheme resembled a Ponzi scheme, where funds from newly joined investors were utilized to compensate earlier ones. Meanwhile, the promoters pocketed the money of their victims.
As a researcher, I found myself studying an individual who was one of the key figures in the promotion of this scheme. This 46-year-old individual amassed millions of dollars from the venture. Rather than investing or saving, he opted to indulge in a life of luxury, purchasing real estate in Florida and extravagant goods. Furthermore, he traversed the United States, organizing grand expositions and smaller community gatherings to lure more participants into his scheme.
The occasions were arranged to stir up enthusiasm, as Tacuri frequently donned high-end fashion to enhance the image of affluence. Additionally, he encouraged participants to invest by highlighting his financial prosperity and showcasing Forcount’s investment offerings as a path toward financial independence.
Excuses and Fake Token
The victims were able to monitor what appeared to be their earnings through a bogus web platform, but they couldn’t withdraw any of the money. This predicament led to complaints starting as early as 2018. Yet, Tacuri and other promoters responded with excuses, postponements, and concealed charges instead of addressing the issue.
In an effort to continue the operation, Forcount introduced useless, proprietary cryptocurrency tokens named “Mindexcoins,” promising they would rise in worth. Unfortunately, these tokens resulted in additional monetary losses for the investors.
By the year 2021, the investment plan had crumbled, resulting in the majority of investors receiving no profit from their initial contributions. More than twenty affected individuals shared testimonials during Tacuri’s court sentencing.
In December 2022, the U.S. Department of Justice accused a 47-year-old individual, along with Francisley Da Silva and Antonia Perez Hernandez, of various offenses. Silva and Tacuri were also implicated in separate charges related to money laundering conspiracy.
In June 2024, he admitted his guilt in front of U.S. District Judge Annalisa Torse, who is well-known for her 2023 decision regarding programmatic XRP sales. Since then, he’s been waiting for his sentence to be handed down.
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2024-10-19 21:20