Forsage scammers Samuel D. Ellis and Sarah Theissen have settled fraud allegations made towards them.
The allegations have been made in a lawsuit filed by the SEC, alleging Forsage was a $300 million Ponzi scheme.
Ellis (beneath) and Theissen are two of eleven Forsage scammers sued by the SEC earlier this month. They’re the primary defendants to settle.
Ellis and Theissen have been a part of “Crypto Crusaders”, the biggest US group of Forsage promoters.
Ellis promoted Forsage on YouTube. Theissen did the identical, and moreover labored admin for Crypto Crusaders.
Ellis’ and Theissen’s Forsage settlements have been filed on August eighth.
The SEC alleges Ellis stole $72,405 by Forsage. Ellis’ settlement will see him pay again $36,621 in disgorgement, $1021 in prejudgment curiosity, in addition to a $31,128 civil penalty ($68,770 in whole).
Theissen is alleged to have stolen “a minimum of $130,118”. Theissen’s disgorgement and civil penalty are to be decided at a later date.
Each Ellis and Theissen are completely enjoined from committing additional securities fraud violations.