Business
SEC Charges Crypto Platform Disappointed With $300 Million Pyramid Plan
On Monday, the Securities and Exchange Commission said it had charged 11 individuals with creating and promoting a fraudulent platform that operated as a global crypto pyramid and Ponzi scheme.
The platform in question, Forsage raised over $300 million from millions of individual investors worldwide since it was launched in January 2020. The four founders of Forsage——Vladimir Okhotnikov, Jane Doe (also known as Lola Ferrari), Mikhail Sergeevand Sergey Maslakov– was among those charged and was last living in Russia, the Republic of Georgia and Indonesia, according to the SEC complaint.