Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Senior Forcount Ponzi Scheme Promoter Sentenced To 20 Years In Prison

Senior Forcount Ponzi Scheme Promoter Sentenced To 20 Years In Prison

CryptoNewsCryptoNews2024/10/17 09:51
By:Julia Smith

Tacuri promoted Forecourt's fraudulent scheme to victims around the globe as a means of achieving financial freedom.

Last updated:
October 16, 2024 15:52 EDT

Juan Tacuri, a senior promoter in the Forcount Ponzi scheme, has been sentenced to two decades behind bars for his role in the crypto fraud scheme, the United States Attorney’s Office announced Wednesday.

Juan Tacuri Faces The Music For Crypto Fraud Scheme

According to an October 16 press release , United States District Court Judge Analisa Torres ruled that Tacuri should receive the statutory maximum of 240 months in prison for wire fraud as part of promoting the international digital asset scheme.

“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,” U.S. Attorney Damian Williams said in a statement Wednesday. “Tacuri was one of the most prolific promoters of the Forcount Ponzi scheme, taking in millions of dollars from working-class victims.”

Update: Four months after his guilty plea, Juan Tacuri has been sentenced to 240 months in prison and ordered to forfeit $3,610,718.67 and title to a home in Florida he purchased in part with Forcount Victim funds. Crypto Criminals: https://t.co/ExLjXQJArQ https://t.co/xwFIZSiveC

— Inner City Press (@innercitypress) October 16, 2024

According to federal prosecutors, Tacuri promised customers of the crypto mining and trading company that the organization’s profits would lead to guaranteed daily returns on investments as well as the doubling of those investments within a six-month time frame.

The now-convicted crypto fraudster reportedly “hosted lavish expos” as well as “small community presentations” that targeted victims in hopes of getting them to invest in the scheme.

According to the press release, Tacuri would “boast about the money he was earning” to potential investors and wore designer clothing to these events, where he promoted the crypto company as “a means of achieving financial freedom.”

The Collapse Of The Forcount Ponzi Scheme

The fraud scheme inevitably began to crumble in April 2018 when investors struggled to withdraw funds from Forcount’s online investor portal; nonetheless, Tacuri and others continued to promote the fraudulent crypto company.

In a last-ditch effort, Forcount began offering “proprietary crypto tokens” to ” inject liquidity” into the scheme.

Ultimately, the tokens proved worthless, creating further financial strain for the already defrauded victims. By 2021, all payments to investors had stopped, and complaints went unanswered by the crypto company .

In addition to 20 years in federal prison, Tacuri has been ordered to pay over $3.6 million in fines and forfeiture.

“Instead of using victims’ funds as promised, he instead spent it on himself,” Williams continued. Today’s sentence should serve as a stark reminder that, in the long run, fraud does not pay.”

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

MVLUSDT now launched for futures trading and trading bots

Bitget has launched MVLUSDT for futures trading with a maximum leverage of 20, along with support for futures trading bots, on November 29, 2024 (UTC+8). Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. MVLUSDT-M perpetual futures: Parameters Details Listing t

Bitget Announcement2024/11/29 11:04