Cases / Crypto & digital assets
Forsage
Olena Oblamska (aka Lola Ferrari), Vladimir Okhotnikov, Mikhail Sergeev, Sergey Maslakov, Cheri Beth Bowen, Ronald R. Deering, Samuel D. Ellis, Mark F. Hamlin, Carlos L. Martinez, Alisha R. Shepperd, Sarah L. Theissen
ReportedAug 1, 2022
LocationTbilisi, Republic of Georgia
Amount$340,000,000
This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.
- Company / entity
- Forsage
- Industry
- Cryptocurrency / MLM "smart contract" investment scheme
- How investors were recruited
- Forsage website and social media; MLM/network-marketing referral structure; U.S. promoters known as the "Crypto Crusaders"
- Pitch & red flags
- "decentralized matrix project based on network marketing and smart contracts"; "legitimate, low-risk, and lucrative investment"; purchasing "slots" in smart contracts
Pitch phrases from this case
- “decentralized matrix project based on network marketing and smart contracts”
- “legitimate, low-risk, and lucrative investment”