Juan Tacuri, 46, of Greenacres, Florida, a senior promoter behind the Forcount cryptocurrency Ponzi scheme, has pleaded guilty to conspiracy to commit wire fraud in the Southern District of New York.

The scheme, which reaped $8.4 million from primarily Spanish-speaking investors, has been described as one of the more shocking frauds targeting vulnerable communities.

Legal Proceedings

Damian Williams, the United States Attorney for the Southern District of New York, announced Tacuri's plea before U.S. District Judge Analisa Torres.

"With this guilty plea, Juan Tacuri is being held to account for taking advantage of retail investors and selling them a fabricated investment opportunity," said U.S. Attorney Williams.

Tacuri brought in millions of dollars in victim funds -- funds the victims could not afford to lose -- and spent it lavishly on luxury goods and real estate. This Office will not stop pursuing Ponzi schemes like Tacuri, mainly targeting regular, working people in dire financial straits.

Tacuri's sentencing will take place on September 24, 2024. He faces a maximum of 20 years behind bars, while as part of his guilty plea agreement, he is required to forfeit nearly $4 million and the real estate he acquired with victims' funds.

The Forcount Scheme

According to the indictment, public filings, and court statements, Forcount (later known as Weltsys) presented itself as a cryptocurrency mining and trading company, falsely promising guaranteed daily returns and the doubling of investments within six months.

Tacuri and other promoters lured victims through extravagant expos and community presentations, showcasing the scheme as a path to financial freedom. Victims were persuaded to invest via cash, checks, wire transfers, and cryptocurrency.

Victims were also given access to an online portal displaying fake profits. However, most could not withdraw their purported earnings, ultimately losing their entire investments.

Tacuri and other promoters, meanwhile, siphoned off substantial amounts of money for personal luxuries and further promotion of the scheme.

Victim Complaints and Mindexcoin

As early as April 2018, victims encountered difficulties withdrawing funds. Complaints to Tacuri and others were met with excuses, delays, and hidden fees.

Despite the grievances, Tacuri continued to promote the scheme and accept investments.

To address liquidity issues, Forcount introduced a proprietary crypto-token, "Mindexcoin," which Tacuri falsely claimed would gain significant value. In reality, the tokens were worthless, increasing victims' financial losses.

By 2021, the scheme had ceased paying victims, and Tacuri and other promoters had stopped responding to complaints.