Forcount Crypto Scheme Promoters Plead Guilty to Wire Fraud Conspiracy
July 23, 2021
Two individuals involved in the Forcount crypto scheme have pleaded guilty to wire fraud conspiracy after allegedly stealing $8.4 million from investors.
The perpetrators promoted Forcount between 2017 and 2021, promising high returns to unsuspecting investors.
According to reports, the scheme involved a classic Ponzi-style operation where funds from new investors were used to pay returns to earlier investors.
Both guilty parties are facing up to 20 years in federal prison for their involvement in the fraudulent scheme.
As part of their guilty pleas, the individuals have also promised to pay restitution to the victims of the scam.
Authorities are urging anyone who invested in Forcount and believes they may be a victim to come forward and report their losses.
The guilty pleas of the two individuals serve as a warning to potential fraudsters in the crypto industry.
Investors are reminded to exercise caution and conduct thorough research before investing in any scheme promising high returns.
The investigation into the Forcount crypto scheme is ongoing, and authorities are working to bring all responsible parties to justice.
