A 46-year-old man from Florida has admitted to masterminding a massive Ponzi scheme that defrauded investors of approximately $8.4 million, promising them high returns on cryptocurrency investments. Juan Tacuri, a principal promoter for the now-defunct Forcount operation, pleaded guilty to conspiracy to commit wire fraud, according to the United States Attorney’s Office.
As part of his plea, Tacuri will surrender nearly $4 million in profits and property obtained through the scheme, which targeted Spanish-speaking investors. The scheme, which operated from 2017 to 2021, falsely promised investors that their money would double within six months through Forcount’s supposed crypto trading and mining ventures.
In reality, these operations did not exist, and funds from new investors were used to pay earlier participants and finance the lifestyles of Tacuri and his associates. The online platform provided to investors tracked their “profits,” but most victims lost their entire investments as they could not withdraw any supposed earnings.
Tacuri recruited victims at various expos and events across the U.S., including in the Southern District of New York, where Judge Analisa Torres will determine his sentence. The maximum sentence for this crime is 20 years in prison.
The legal proceedings against Tacuri’s co-promoters, Francisley Da Silva and Antonia Perez Hernandez, are ongoing, with neither having entered a plea or been found guilty. Tacuri’s sentencing is scheduled for late September 2024.
The Department of Justice has warned investors to be cautious of similar schemes and to thoroughly research any investment opportunities before committing their funds. This case serves as a reminder of the importance of due diligence and the devastating consequences of falling victim to fraudulent schemes.
BitminerFactory is brought to life by Darrell Houghton, our astute publisher. With a deep-rooted passion for crypto and crypto mining spanning many years, Darrell’s unwavering enthusiasm fuels his daily quest for knowledge. He is eager to share the pivotal news stories of the day while also providing his own analysis and commentary with Bitminer Factory’s readers.
Source: Crypto Mining News - Bing
