Forcount-crypto-scam-verdict

Inside the Forcount Crypto Scam Trial

Forcount, which later renamed as Weltsys, promised daily earnings and distances the investment twofold within six months. Endeavours such as using flashy outlets as a way of getting people to invest their monies into the scheme meant that the monies were channeled back into expensive items and their advertisements. The fake online profits deceived the investors and over 90 percent of the investors never could cash out their income which amount to drastic investment .

In addition, for his guilty plea, Tacuri has agreed to a maximum of a 20-year term of imprisonment, complimented by forfeiture of approximately 3.9M dollars, and properties acquired from the victims. The sentencing is scheduled for september 24, 2024.

Juan-Tacuri
Credit : US Attorney’s Office

Unfortunately, impacts of the scheme in particular to the victims were very alarming, where most of them were unable to get back their money. Additional attempts to manage some liquidity problems with the creation of a house cryptocurrency called Mindexcoin didn’t help either, as the token was completely valueless.

That’s why such examples, as Tacuri’s plea, can be considered as a good start for people who become victims of such crypto scams, and it also underlines the necessity of future regulation of the new internet financial world.

Disclaimer!!

The information provided by CryptopianNews is for educational and informational purposes only. It should not be considered financial or investment advice. Cryptocurrency markets are highly volatile and speculative, and investing in them carries inherent risks. Readers are advised to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

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