On July 22, Nestor Nunez, 66, and Antonia Perez Hernandez, 49, each pleaded guilty to one count of conspiracy to commit wire fraud. This charge carries a maximum penalty of 20 years in federal prison.

Nunez, a Spanish national, was reportedly compensated to pose as the CEO of Forcount under the alias “Salvador Molina.” The scheme’s actual mastermind, Francisley Da Silva, a 39-year-old Brazilian, was apprehended by Brazilian authorities in 2022. Hernandez held a senior promotional role within the scheme.

From 2017 to 2021, Forcount deceived Spanish-speaking investors worldwide by organizing extravagant promotional events and promising substantial returns from fictitious crypto mining and trading ventures. The scammers used promises of “financial freedom” and flaunted their opulent lifestyles—luxury vehicles and designer apparel—to lure victims while embezzling their funds and laundering the proceeds through shell companies and real estate.

Juan Tacuri, 46, an American co-conspirator, previously pleaded guilty in June to similar charges and agreed to forfeit $4 million along with real estate acquired with victim funds. Tacuri is scheduled for sentencing on September 24 in New York before District Judge Analisa Torres, who also oversees the SEC’s case against Ripple.

Nunez’s sentencing is set for November 11, while Hernandez’s sentencing date remains unconfirmed.