A top promoter in Forcount ‘Ponzi’ has pleaded guilty to fraud conspiracy

One of the main promoters behind the Forcount cryptocurrency Ponzi scheme has pleaded guilty in New York to conspiracy to commit wire fraud.

Juan Tacuri was the leader of a “Ponzi” scheme that bilked $8.4 million from Spanish-speaking investors around the world, the U.S. Attorney's Office for the Southern District of New York said in a June 5 statement.

“Takuri was one of the scheme's most successful promoters and reaped millions of dollars from the fraudsters involved.”

The scheme was based on false promises that investors would get returns from Forcon cryptocurrency trading and mining operations, including doubling their initial investment within the first six months.

“In this guilty plea, Juan Thakury is responsible for taking advantage of retail investors and selling him a fraudulent investment opportunity,” said U.S. Attorney Damian Williams.

Thakuri is awaiting sentencing on September 24, 2024 by Judge Analisa Torres, who will consider the issues related to the cryptocurrency industry.

The charge carries a maximum sentence of 20 years in prison.

Thakuri He was indicted in December 2022 along with Francisley da Silva and Antonia Perez Hernandez for their role in the scheme between 2017-2021. The last two were charged and either not charged or pleaded not guilty.

Williams Thackeray spent millions of dollars of the victim's money on “luxury goods and real estate.”

As part of the plea deal, Juan Taqueri turned over nearly $4 million in property and real estate purchased with victims' money.

Like many Ponzi promoters, Thakuri has traveled across the US to host popular expos and community events aimed at encouraging victims to invest in Ponzi schemes.

He bragged about the money he was making through the scheme and emphasized the importance of achieving financial independence, the US Attorney said.

RELATED: DOJ Rejects Tornado Cash Co-Founder's Motion to Dismiss Charges

Those who believe in Takuri sign up to Forcount's portal and watch their “profits” accumulate – however, many victims fail to withdraw these “profits” and end up losing their entire investments.

The few who were able to cash out had to deal with excuses, delays and hidden fees, the U.S. Attorney's Office added.

Forcount later started offering the cryptocurrency “Mindexcoin” as a way to inject more liquidity into the scheme.

As companies start accepting it as payment for goods and services, Takuri said the coin's value will increase exponentially.

But this was “false” and caused further financial loss to victims, according to the US Attorney's Office.

“This office will not stop pursuing Ponzi schemers like Takuri, who specifically target regular and financially disadvantaged workers,” Williams said.

Magazine: 1 in 6 new Base meme coins are scams, 91% vulnerability