Forsage

The DOJ has stayed SEC civil proceedings against Forsage executives and promoters. The March 28th order staying SEC proceedings was preceded by a DOJ intervention filing on March 24th. In the filing, the DOJ reasons; In addition to the overlapping defendants in both the SEC’s case and the criminal case, both the SEC’s complaint and […]

Default judgment has been granted against Forsage executive Mikhail Sergeev. The SEC alleges Forsage is a $300+ million Ponzi scheme. Sergeev, a Russian national, worked as Forsage’s Development Director. Sergeev’s judgment follows the SEC being granted permission to serve him via email on February 7th. Sergeev failed to respond to the SEC’s Complaint, resulting in

Forsage founder Vladimir “Lado” Okhotnikov has been indicted for conspiracy to commit wire fraud. In addition to Okhotnikov (right), a federal grand jury also indicted Olena Oblamska (aka Lola Ferrari), Mikhail Sergeev (aka Mike Mooney, Gleb and Gleb Million), and Sergey Maslakov. All four Russian nationals are founders of the original Forsage Ponzi scheme. The

Default judgment has been granted against Forsage Ponzi scammers Sergey Maslakov and Lola Ferrari. Default judgment follows the SEC securing an Entry of Default against Maslakov and Ferrari last October. Following a motion from the SEC, Default Judgment was granted on February 7th. By virtue of the default and failure to respond to the Complaint,

Ronald R. Deering has settled Forsage fraud allegations brought against him. Deering was the last of seven Forsage Ponzi promoters sued by the SEC back in August. As alleged by the SEC, Deering (right), a US national living in Idaho, stole at least $267,075 through Forsage. As per his December 13th approved settlement judgment, Deering

Forsage promoter defendants Carlos Martinez and Alisha Shepperd have settled with the SEC. Both Martinez’s and Shepperd’s settlements are partial. This is ultimately a moot point, as both Martinez’s and Shepperd’s (right) settlements prohibit further acts of securities fraud; prohibit participation in pyramid schemes; prohibit participation in “crypto asset securities” schemes (basically any passive investment

Vladimir “Lado” Okhotnikov has secured representation against the SEC. As a result, the previously entered Entry of Default has been “exited”. As per a Joint Status Report filed on October 21st; Notwithstanding the default, as the SEC apprised the Court during the telephonic hearing on the motion on October 6, 2022, counsel forOkhotnikov previously had

An Entry of Default has been recorded against Forsage scammers Vladimir “Lado” Okhotnikov, Lola Ferrari and Sergey Maslakov. As at September 29th, neither Okhotnikov, Ferrari or Maslakov had filed a response to the SEC’s Forsage fraud lawsuit. Okhotnikov (right) is hiding out in Georgia. Ferrari and and Maslakov are believed to be in Indonesia and

The SEC has moved to serve three of Forsage’s four founders via alternative service. Vladimir “Lado” Okhotnikov, Lola Ferrari, Sergey Maslakov all reside overseas. Vladimir “Lado” Okhotnikov As alleged by the SEC; Okhotnikov is a Russian national believed to reside in Tbilisi, Republic of Georgia. He is the face of the operation, hosting many of

Cheri Beth Bowen has settled a securities fraud lawsuit brought against her by the SEC. As alleged by the SEC, Bowen stole “at least” $303,000 through the Forsage Ponzi scheme. On September 1st the SEC filed a motion requesting judgment by consent against Bowen (right). The requested judgment obviates the need to litigate substantive liability