On January 6th, Damian Williams, the US Attorney for New York’s Southern District, charged two promoters of the Forcount Ponzi scheme. Forcount was a crypto scam that took place between 2017 to 2021, defrauding Spanish investors globally of about $8.4 million.
US DoJ To Extradite Nunez From Spain To Face Charges
Law enforcement agencies arrested Nestor Nunez, called “Salvador Molina,” in Spain on December 28th last year. His compatriot, Ramon Perez, a 40-year-old American, gave himself up to enforcement authorities on January 6th.
Nunez is charged with alleged fraud, while Perez faces charges of money laundering and fraud. On January 6th, Perez, currently in the United States, appeared before Sarah Netburn, a United States Magistrate Judge.
However, the Department of Justice (DoJ) is working on extraditing Nunez to the United States from Spain. According to reports, Perez reportedly deceived unsuspecting investors into investing in the Ponzi scheme.
He covered his tracks using real estate and shell businesses to launder users’ funds. Some reports claim that Nunez paraded himself as the CEO of Forcount under the name “Salvador Molina.”
The real mastermind behind the whole scheme, Francisley Da Silva, a Brazilian citizen, employed Nunez as the CEO. Both defendants employed a group of individuals to promote the scheme from 2017 to 2021.
Investors were promised huge returns depending on the amount invested. The group claimed to invest funds in fictitious trading and mining activities.
Da Silva Spent Investors’ Funds On Lavish Living
Furthermore, earlier reports alleged that Da Silva and his colleagues lavished on investors’ funds between 2017 to 2021. They promoted crypto-related scams and purchased luxury goods for themselves.
Unfortunately, many people continue to lose their funds to these crypto-related scams. Before now, the Securities and Exchange Commission (SEC) charged Da Silva and three other executives and promoters at Forcount with securities offenses.
The executives include Coronado Reyes, Jose Ramiro, Ramon Antonio Perez, and Juan Antonio Tacuri Fajardo. Meanwhile, the current charges in these indictments are still accusations.
If found guilty, the defendants would serve various prison sentences depending on the intensity of their crime. The court charged Nunez with accusations of alleged wire fraud and a conspiracy to carry out wire fraud.
Nunez could face a possible 40 years sentence in prison if found guilty. On the other hand, the court charged Perez with one count of wire fraud, one count of conspiracy to carry out wire fraud, and another count of alleged money laundering. Each of these counts signifies a possible sentence of 20 years in prison.