The District Court for the Southern District of New York sentenced Juan Tacuri, senior promoter of the crypto pyramid scheme Forcount (also known as Weltsys), to a maximum term of 240 months in prison for digital asset fraud.

In addition to the prison term, District Judge Analisa Torres sentenced 46-year-old Florida resident Juan Tacuri to one year of supervised release. The court ordered the confiscation of Takuri’s real estate in Florida, which he partially acquired with funds received from investors in the Forcount crypto scheme. The violator is also required to pay compensation of $3.6 million to the affected investors.

According to the U.S. Attorney for the Southern District of New York, Damian Williams, the Forcount cryptocurrency scheme was aimed primarily at the Hispanic population. Thakuri was one of the most successful promoters of the scheme, who was able to raise millions of dollars from investors. More than 20 victims testified against Takuri in the courtroom.

The organizers of Forcount stated that the company was engaged in mining and trading cryptocurrency. Investors were promised double the return on their investment within six months. Takuri traveled throughout the United States, holding lavish exhibitions and small public presentations to lure as many victims into the crypto scheme as possible. At events, he promised people financial freedom, boasted about the money he earned, and wore designer clothes for performances. He spent the money received from investors on real estate in Florida and luxury goods, the prosecutor said.

“Takuri took millions of dollars from the working class. Instead of using the funds for the promised purposes, he spent them on himself. “Today’s sentence serves as a stark reminder that there are severe penalties for cryptocurrency fraud,” said prosecutor Damian Williams.

Thakuri pleaded guilty in June to wire fraud. In 2022, the US Department of Justice accused nine citizens of organizing illegal crypto schemes IcomTech and Forcount, as well as money laundering.