Cryptocurrency scammer sentenced to 20 years in prison and $3.6 million forfeiture ordered

On October 15, 2024, Juan Takuri, a senior promoter of the cryptocurrency Ponzi scheme Forcount, was sentenced to 20 years in federal prison and one year of supervised release.

The Florida resident was ordered to forfeit the home and $3.6 million in assets he purchased with the fraudulent proceeds and pay the same amount in restitution to the victims.

Scam details

Court documents reveal that Fourcount operated around the world, defrauding thousands of victims, particularly in the Spanish-speaking community in the United States. The scam, which has since been rebranded as Weltsys, lured investors with false promises of guaranteed profits from mining and trading cryptocurrencies.

Mr. Thakuri and his fellow promoters lured investors with promises of large profits, including claims that their investments would double within six months. In reality, no virtual currency trading or mining took place. Following the typical pattern of a Ponzi scheme, funds from new investors were used to pay off previous investors, while the organizers enriched themselves with victims' money.

The 46-year-old was one of the scheme's most successful promoters, earning millions of dollars. He used the money to buy real estate and luxury goods in Florida, supporting a lavish lifestyle. He also traveled around the United States hosting flashy expositions and small community events to attract more victims.

The events were designed to generate excitement, and Thakuri often wore designer clothes to reinforce the illusion of wealth. He also encouraged attendees to invest by boasting about his financial success and introducing FourCount's investment products as a way to achieve financial freedom.

Excuses and fake tokens

Victims were able to track their supposed profits through fake online portals, but most were unable to withdraw their funds. As a result, complaints began to surface as early as 2018. But Thakuri and other promoters responded with excuses, delays and hidden fees.

To continue this plan, Forcount began offering its own worthless crypto token known as “Mindexcoin,” which it claimed would eventually increase in value. These tokens only resulted in further financial losses for investors.

By 2021, the scheme had collapsed, leaving most victims unable to profit from their investments. More than 20 of them made influential statements during Takuli's sentencing.

The U.S. Department of Justice indicted the 47-year-old in December 2022, along with Francesly da Silva and Antonia Perez Hernandez. Silva and Takuri were indicted on additional charges of money laundering conspiracy.

He entered a guilty plea in June 2024 before U.S. District Judge Annalisa Torres, famous for her 2023 ruling on programmatic XRP sales, and has been awaiting sentencing ever since.