U.S. Sentences Cryptocurrency Promoter Juan Tacuri to 20 Years for Multi-Million Dollar Ponzi Scheme

In a significant legal development, Juan Tacuri, a cryptocurrency promoter, has been sentenced to 20 years in prison for orchestrating a Ponzi scheme that defrauded thousands of investors, predominantly within Spanish-speaking communities across the United States. The fraudulent operation, which masqueraded as a crypto mining venture, promised guaranteed returns but ultimately left victims unable to withdraw their funds while Tacuri and his associates pocketed millions.

The Details of the Scheme

Tacuri, a prominent figure in the global cryptocurrency Ponzi scheme known as Forcount, was sentenced to 240 months in prison by U.S. District Judge Analisa Torres. The scheme, which later rebranded as Weltsys, targeted a vast network of investors and lured many into its deceptive practices.

Amassing millions through his promotional efforts, Tacuri misused the funds for personal luxuries, including extravagant purchases and real estate in Florida. His sentencing was influenced by powerful impact statements from over 20 victims, many of whom shared harrowing stories of financial loss and betrayal. U.S. Attorney Damian Williams condemned Tacuri’s actions, asserting

Williams further emphasized the gravity of the fraud, stating that Tacuri had exploited "millions of dollars from working-class victims" for his personal enrichment, reiterating that “fraud does not pay.”

Misleading Promises and False Claims

Forcount falsely presented itself as a cryptocurrency mining and trading enterprise, enticing potential investors with promises of guaranteed returns and doubling their investments within six months. However, as U.S. Attorney Williams clarified:

Tacuri promoted the operation through lavish expos, captivating investors with the allure of financial independence. While victims could view their supposed profits online, they were often unable to access their funds, leading to frustration and anger. Despite a growing number of complaints, Tacuri continued to promote Forcount, misleading investors with claims of proprietary tokens like “Mindexcoin,” which he falsely suggested would appreciate in value. In reality, these tokens were worthless, exacerbating investor losses. By 2021, the scheme halted payments, and promoters, including Tacuri, ceased communication with victims.

Sentencing and Consequences

In addition to his 20-year prison sentence, the 46-year-old Tacuri, hailing from Greenacres, Florida, will serve one year of supervised release. He has also been ordered to forfeit over $3.6 million, including his Florida residence, and to pay restitution amounting to $3.6 million to the victims of the Ponzi scheme.

Conclusion

The sentencing of Juan Tacuri serves as a stark reminder of the dangers of cryptocurrency investments, particularly those that promise guaranteed returns. The case underscores the importance of due diligence and skepticism when dealing with investment opportunities that seem too good to be true.