Details of the Scheme and Guilty Plea

The United States Attorney’s Office in the Southern District of New York claimed in a June 5 statement that Juan Tacudi was in the vanguard of the “Ponzi” scam, which raked up $8.4 million from largely Spanish-speaking investors worldwide.

“Tacudi reaped millions of dollars from his involvement in the fraud and was among the most effective promoters of the scheme.”

False claims that investors would get profits from Forcount’s mining and trading activities—including a doubling of their initial investment within the first six months—formed the basis of the fraud.

“With this guilty plea, Juan Tacudi is being held to account for taking advantage of retail investors and selling them a manufactured investment opportunity,” U.S. Attorney Damian Williams stated.

On September 24, 2024, Judge Analisa Torres, who has experience with issues involving the Bitcoin sector, will sentence Tacudi. The charge carries a maximum term of twenty years in jail.

Involvement of Other Key Figures

Along with Francisley Da Silva and Antonia Perez Hernandez for their involvement in the scam during 2017–2021, Tacudi was charged back in December 2022. Neither Francisley Da Silva nor Antonia Perez Hernandez have acknowledged their guilt or received a conviction.

Tacudi reportedly spent millions of victim dollars on “luxury goods and real estate,” Williams claimed.

Part of the plea agreement included Juan Tacudi forfeiting about $4 million and real properties bought with victim monies.

Tactics and Impact on Victims

Tacudi, like many Ponzi promoters, visited the country to organize extravagant expos and community speeches meant to attract victims to Ponzi scheme investments. The United States Attorney’s Office stated he would underline the need to reach financial freedom and highlight the money he had been generating with the plan.

This Might Interest You: Bitcoin NFTs Surge in Sales Despite Overall Market Slump

Those persuaded by Tacudi would register for Forcount’s site and witness “profits” build up; yet, many victims were unable to withdraw these “profits” and finally lost all they had invested.

The United States Attorney’s Office added that the few who were able to make withdrawals also had to cope with excuses, delays, and hidden costs.

Introduction of Mindexcoin and Further Losses

Later, Forcount began selling “Mindexcoin“ a cryptocurrency, to provide greater scheme liquidity. Tacudi asserted that once businesses began using the token as payment for products and services, its value would increase dramatically.

But this was “false,” the U.S. Attorney’s Office stated, leading to more financial damages for victims.

“This office will not stop hunting Ponzi schemers like Tacudi, especially where they target regular, working people in dire straits financially,” Williams said.

The post Forcount Ponzi Scheme Promoter Admits Guilt in $8.4 Million Fraud Case appeared first on Coin Engineer.