Forsage Archives

Forsage

25 February, 2023

4 Forsage founders indicted in Oregon over $340M Ponzi scheme

The founders paraded Forsage as a DeFi investment platform that could give lucrative returns on deposits and claimed that the...

SEC calls Forsage a ‘fraudulent crypto pyramid and Ponzi scheme’

Business

Steven Stradbrooke

2 August, 2022

SEC calls Forsage a ‘fraudulent crypto pyramid and Ponzi scheme’

U.S. securities regulators have charged 11 individuals for creating and promoting the “fraudulent crypto pyramid and Ponzi scheme” that is...

Montana regulator issues cease and desist order against Forsage scam

Business

Steve Kaaru

2 April, 2021

Montana regulator issues cease and desist order against Forsage scam

Headed by Lado Okhotnikov, the Philippines-based Forsage allegedly targeted unsuspecting victims who were lured with promises of zero-risk investment, authorities...

Forsage Ponzi scheme ordered to cease and desist in Philippines

Business

Steve Kaaru

9 October, 2020

Forsage Ponzi scheme ordered to cease and desist in Philippines

Forsage claims to be a next-generation crowdfunding platform, promising zero-risk investments allegedly guaranteed by the execution of smart contracts.

Forsage scheme continues despite SEC investor warnings

Business

Ed Drake

7 August, 2020

Forsage scheme continues despite SEC investor warnings

Forsage has no legal standing to accept investments, or to sell investment products to the public, regulators in the Philippines...

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Steve Kaaru

26 Nov 2024

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