The Securities and Exchange Commission (SEC) filed serious charges against four persons, who they claim were instrumental in the building and promoting a fraudulent crypto asset pyramid scheme. The four people charged are Ramon Antonio Perez Arias, Francisley Valdevino Da Silva, Juan Antonio Tacuri Fajardo, and Jose Ramiro Coronado Reyes. The name that was given to it was Forcount Trader Systems Inc. The SEC further goes on to state that through this created entity, and with the participation and contribution of a very large number of investors, they managed to accrue an amount surpassing $8.4 million for themselves.
In their very own understanding and firm belief, these concerned investors happened to have been mainly Spanish-speaking people, based out of the length and breadth of the United States of America, as well as from certain other countries. The persons who have been duly charged happen to be the frontline individuals.
According to relevant information passed on by reliable sources in the SEC, the chargesheet filed by them mentions the fact that it was a Brazilian citizen by the name of Da Silva, along with two other U.S.-based promoters, Tacuri Perez and Coronado, who were instrumental in the attracting and selling of the idea of an assured return on investments made, to a whole lot of unsuspecting investors, and thereby accumulating millions of dollars for themselves, all through a great act of fraud.
All of these fraudulent investments that the investors duly made were in the name of Forcount Trader Systems Inc. and the form of memberships. It is also true that these very investors were all given suitable interests calculated on profits made because of Forcount’s crypto asset trading and mining activities. They tricked the investors into their referral program, wherein individuals would be incentivized and rewarded for bringing new referrals.
As per the SEC’s firm belief, most of the money generated went into purchasing luxury housing, cars, and other amenities.
However, the complaint by the SEC against the accused ones, at the federal district court in the Southern District of New York holds them responsible for violating the registration provisions of the federal securities laws and anti-fraud. The complaint seeks a complete ban on the defendants from taking part in any multi-level or crypto asset offerings.