The Securities and Exchange Commission (SEC) charged 11 individuals for their alleged roles in creating a $300 million crypto pyramid scheme. The alleged fraudulent blockchain scheme spanned multiple countries including the U.S. and Russia.
The charges were brought against the four founders of Forsage, who were last known to be living in Russia, the Republic of Georgia and Indonesia, as well as three U.S.-based promoters engaged by the founders to endorse Forsage on its website and social media platforms. Also charged were members of the so-called “Crypto Crusaders” – the largest promotional group for the Forsage scheme that operated in the United States from at least five different states.
According to the SEC complaint, Vladimir Okhotnikov, Jane Doe a/k/a Lola Ferrari, Mikhail Sergeev and Sergey Maslakov launched Forsage.io, a website that allowed millions of retail investors to enter transactions via smart contracts that operated on the Ethereum, Tron and Binance blockchains....
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...