SEC accused Forsage creators of promoting cryptopyramids by $ 300 million

SEC accused Forsage creators of promoting cryptopyramids by $ 300 million

The US Securities and Exchange Commission (SEC) accused eleven people of creating and promoting the Forsage cryptocurrency pyramid, which attracted more than $ 300 million from investors from around the world.

Among the accused are four Forsage founders who lived in Russia, Georgia and Indonesia, as well as several US residents who promoted a fraudulent scheme on the network.

According to SEC, in January 2020, Vladimir Okhotnikov, Mikhail Sergeev, Sergey Maslakov and Jane Dow (aka Lola Ferrari) launched the Forsage website.Io. With its help, millions of retail investors could conclude transactions through smart contracts operating on Ethereum, Tron and Binance blockchains.

However, in fact, Forsage was a financial pyramid, the participants of which were profitable by attracting new investors, say in the SEC.

In 2020, the Commission on Securities and Exchange Filippines announced the presence of Forsage signs of a financial pyramid. In March 2021, Montana regulators also announced a project fraudulent scheme.

Despite this, the creators of the pyramid continued to promote it, denying the accusations of YouTube against them and in other ways, noted in the SEC.

According to Dune Analytics, 728 711 ETH was sent to the project.

Recall that in 2020, researchers noted that the activities of the Forsage Ponzije provoked the growth of commissions and gas prices on the Ethereum network.

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