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Forsage Founders Indicted for Alleged $340 Million “Global Ponzi” Scheme on Ethereum Blockchain

Forsage Founders

Convicted of being the Masterminds of the ‘”Global Ponzi” Scheme known as Forsage, Which is estimated to have Generated $340 million, has been Prosecuted by a Federal Fabulous Jury in the District of Oregon.


According to A Statement Released by the Department of Equity (DOJ) on February 22, the four Russian founders, Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov, have been formally accused of playing key parts in the Scheme that raised Approximately $340 million from Victim-Investors.This information comes from an Accusation.

U.S. Attorney Natalie Wight for the District of Oregon Stated that “Today’s Prosecution is the consequence of a rigorous Investigation that went through months sorting out the Systematic theft of Countless Dollars.” She also Stated that “bringing charges against foreign actors who used new Technology to commit fraud in an Emerging financial market is a Complicated Endeavor just Conceivable with the full and complete coordination of multiple policing.”
Forsage Promoted itself as a generally safe, Decentralized financial platform that was based on the Ethereum blockchain and offered customers the opportunity to create passive income over the long haul. Blockchain analytics, then again, allegedly shown that the vast majority of Forsage “investors” got back less money than they had Initially contributed.

Analysis of the Smart Contracts, as detailed by the Department of Equity (DOJ), indicated that monies that were gotten when new investors acquired “openings” in Forsage’s Smart Contracts were routed to more Seasoned investors, Which is Consistent with the meaning of a “Ponzi Scheme.”


Forsage has an active Twitter account, On which they Recently posted a thread saying that Community Members who take part in “The Ambassador Program” will have the option to receive monthly motivations by Accomplishing Certain activities. The Tweet was Distributed on February 22.
The Securities and Exchange Commission filed charges of fraud and selling Unregistered Securities against the company’s four founders and seven Promoters on August 1. At the time, acting chief of the SEC’s Crypto Assets and Cyber Unit Carolyn Welshhans said: “Fraudsters can’t Evade the federal Securities regulations by focusing their Schemes on Smart Contracts and Blockchains.”

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