Antonia Perez Hernandez, a key promoter of the cryptocurrency Ponzi scheme Forcount, has been sentenced to 30 months in prison for her role in defrauding investors.
Promoter Sentenced to 30 Months in Prison for Crypto Ponzi Scheme
The sentencing, held on January 27th in the U.S. District Court for the Southern District of New York (SDNY), marks another chapter in the ongoing legal fallout surrounding Forcount’s fraudulent operations.
Judge Analisa Torres, who also presides over the U.S. SEC’s case against Ripple Labs, delivered the sentence. Hernandez had previously pleaded guilty to conspiracy to commit wire fraud, admitting her involvement in stealing $8.4 million from investors between 2017 and 2021.
Promises of High Returns, Empty Results
Forcount, presented as a crypto trading and mining platform, lured investors with promises of lucrative returns. Victims were assured their investments would double within six months through Forcount’s supposed trading and mining activities.
However, prosecutors revealed that no legitimate operations existed. Instead, the scheme functioned as a classic Ponzi operation, using funds from new investors to pay earlier ones.
“Hernandez sold valueless coins,” noted Judge Torres during the hearing, adding that there was evidence of her involvement in fraudulent schemes even beyond Forcount.
Apology and Accountability
During the sentencing, Hernandez expressed remorse, apologizing to those who suffered financial losses because of her actions. However, Judge Torres emphasized the severity of her role in perpetuating the fraud, particularly her active participation in deceiving investors with false promises.
The case against Hernandez is part of broader efforts to dismantle Forcount’s operations. Senior promoter Juan Tacuri was sentenced to 20 years in prison in October 2024, while another key figure, Nestor Nuñez, received a four-year sentence in November.
Forcount’s Fraudulent Scheme
The U.S. Department of Justice (DOJ) described Forcount as entirely reliant on deception to sustain itself. The platform’s founders and promoters fabricated claims about its crypto mining and trading capabilities to attract investors.
Instead of generating returns, the scheme diverted victims’ funds to sustain payouts to earlier participants, masking the lack of genuine operations.
From 2017 to 2021, Hernandez and her co-conspirators exploited the growing interest in cryptocurrency, targeting individuals seeking quick profits. The total losses incurred by investors amounted to $8.4 million, with many left financially devastated.
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Shifting Legal Priorities
Hernandez’s sentencing comes amid changes within the SDNY following the resignation of U.S. Attorney Damian Williams in December 2024.
Reports suggest that the new administration under consideration, which includes former SEC Chair Jay Clayton as a potential successor, may prioritize other areas over crypto-related prosecutions.
A Warning for the Crypto Industry
This case underscores the risks posed by fraudulent schemes within the cryptocurrency industry. While the sentencing brings some measure of accountability, it also highlights the need for vigilance among investors.
With Hernandez now behind bars, authorities continue to send a strong message: those who exploit investors through deceit and manipulation will face serious consequences.
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