The U.S. Securities and Exchange Commission (SEC) charge Francisley Da Silva, Juan Tacuri, Ramon Arias, and Jose Reyes for their roles in creating and promoting Forcount Trader Systems, Inc., a fraudulent crypto asset pyramid scheme that raised more than $8.4 million from hundreds of retail investors primarily from Spanish-speaking communities throughout the United States and other countries. In a parallel action, the U.S. Attorney’s Office for the Southern District of New York announced criminal charges.
The SEC Complaint
According to the SEC’s complaint, from approximately July 2017 to November 2020, the defendents enticed and defrauded investors out of millions of dollars with the promise of guaranteed returns resulting from investments in “memberships” in Forcount Trader Systems.
These memberships purportedly gave investors an interest in profits from Forcount’s supposed crypto asset trading and mining operations. Investors could also participate in Forcount’s referral program, which, as the complaint alleges, incentivized recruiting new victims. According to the complaint, Forcount had no crypto asset trading and mining operations and that the only way the scheme could continue was by increasing the investor base. The defendants allegedly accelerated Forcount’s inevitable collapse by misappropriating investor funds to buy themselves homes, cars, and luxury goods.
The SEC’s complaint charges the defendants with violating the anti-fraud and registration provisions of the federal securities laws and seeks permanent injunctive relief, conduct-based injunctions preventing the defendants from participating in multi-level marketing or crypto asset offerings, disgorgement of ill-gotten gains and prejudgment interest, civil penalties, and officer-and-director bars.
The Criminal Case
In a parallel action, the U.S. Attorney’s Office for the Southern District of New York today announced criminal charges against Francisley Da Silva, Juan Tacuri, and Antonia Perez Herndanez with conspiracy to commit wire fraud and wire fraud based on their involvement with Forcount. Da Silva and Tacuri are also charged with conspiracy to commit money laundering, and Hernandez is also charged with making false statements.
The SDNY prosecutors also charge the founders and promoters David Carmona, Marco Ruiz Ochoa, Moses Valdez, Juan Arellano, David Brend, and Gustavo Rodriguez with conspiracy to commit wire fraud based on their involvement with the related crypto pyramid scheme IcomTech.
With these two indictments, this Office is sending a message to all cryptocurrency scammers: We are coming for you. Stealing is stealing, even when dressed up in the jargon of cryptocurrency.
U.S. Attorney Damian Williams
