Two Crypto Promoters Plead Guilty To Forcount Ponzi Scheme Wire Fraud Conspiracy

Two crypto promoters involved in the infamous Forcount Ponzi scheme pleaded guilty to conspiracy to commit wire fraud on Monday in New York.

According to the United States Attorney for the Southern District of New York, Nestor Nunez and Antonia Perez Hernandez pleaded guilty to their involvement in a scheme that defrauded mostly Spanish-speaking investors of an estimated $8.4 million between 2017 and 2021.

Crypto Promoters Plead Guilty To Forcount Ponzi Scheme Charges

Nunez, an actor, was arrested in Spain in December of last year for pretending to be the fictitious Forcount CEO “Salvador Molina.”

In reality, Brazilian Francisley Da Silva was the true creator of the cryptocurrency scheme and had paid Nunez off to cover up his crimes.

Da Silva and his affiliates reportedly misappropriated victims’ money on luxury goods, homes, and cars.

According to a December 2022 press release from the United States Securities and Exchange Commission (SEC), Forcount Trading Systems purportedly offered membership deals for its crypto trading and mining programs .

Additionally, the crypto fraudsters promised victims such activity “would result in guaranteed daily returns” on their investments as well as double “those investments within six months.”

“In reality, Forcount was not engaging in cryptocurrency trading or mining, and the founder and promoters of the scheme were using Victim funds to pay other Victims, to further promote the schemes, and to enrich themselves,” a June press release from the U.S. Attorney’s Office for the Southern District of New York read.

“With high-end clothes and cars, these individuals are alleged to have presented a life of luxury to potential investors, but instead of a lucrative investment opportunity, the victims were fleeced of their savings and left with nothing to show for it,” HSI Special Agent in Charge Ivan J. Arvelo said .

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In June, Juan Tacuri, a senior promoter of the scheme, also pleaded guilty to conspiracy to commit wire fraud.

According to the press release, Tacrui and Forcount fraudsters would travel throughout the U.S. and pitched their scheme to potential victims at “lavish expos” and “small community presentations.”

“During larger-scale events, Tacuri would present Forcount’s investment products and compensation plan, encourage Victims to invest as a means of achieving financial freedom, and boast about the amount of money he was earning, including by wearing designer clothing to such events,” the press release continued. “The atmosphere of these events was festive and designed to generate excitement about the schemes.”

U.S. prosecutors have cracked down on cryptocurrency fraudsters in recent months, most notably in the case and recent conviction of FTX founder Sam Bankman-Fried.

At the time of publication, it’s unclear how long Nunez and Perez Hernandez’s prison sentence may be.