Forsage / Olena Oblamska
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anchored·uXEjYS…A18uSummary
Forsage was a smart-contract-based pyramid and Ponzi scheme launched in January 2020 that raised approximately $340 million from investors worldwide across the Ethereum, Tron, and Binance Smart Chain networks. Four founders — including Ukrainian national Olena Oblamska (known online as 'Lola Ferrari') and Russian national Vladimir Okhotnikov (known as 'Lado') — were indicted by the U.S. DOJ in February 2023 on conspiracy to commit wire fraud charges. As of May 2026, Oblamska has been extradited from Thailand and has pleaded not guilty, with a jury trial scheduled for July 14, 2026; the remaining three co-founders are believed to be at large.
Connected Entities
5 entities · 60 linked investigations- Binance→mentioned with→Ethereum(65%)
- Forsage→mentioned with→Forsage / Olena Oblamska(85%)
- Venice Token→mentioned with→Ethereum(70%)
- Forsage / Olena Oblamska→mentioned with→Binance(70%)
- Forsage / Olena Oblamska→mentioned with→Venice Token(65%)
- Forsage / Olena Oblamska→mentioned with→Ethereum(80%)
- Forsage / Olena Oblamska→mentioned with→Forsage(70%)
- Forsage→mentioned with→Ethereum(80%)
- Forsage→mentioned with→Binance(70%)
Timeline(16 events)
January 2020
Forsage.io launched by Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov. Smart contracts deployed on Ethereum, later on Tron and Binance Smart Chain.
DOJ Indictment / SEC Complaint27 September 2020
Philippines Securities and Exchange Commission issues cease-and-desist order against Forsage for illegal solicitation of investments.
Philippine Information AgencyMarch 2021
Montana Commissioner of Securities and Insurance issues cease-and-desist order against Forsage, labeling it a scam. Founders deny allegations via YouTube.
Montana CSIMay 2021
Cornell Tech researchers publish first peer-reviewed academic analysis of Forsage on arXiv, finding ~88% of participants lost money.
arXivAugust 2022
U.S. SEC files civil complaint charging eleven individuals — including all four founders and Crypto Crusaders promoters — with fraud. Scheme characterized as a 'textbook pyramid and Ponzi scheme' with over $300 million in losses.
SEC Press Release 2022-1342022
Vladimir Okhotnikov flees to Dubai, UAE, following SEC charges and Georgian investigative pressure.
ICIJ Coin Laundry investigation22 February 2023
Federal grand jury in the District of Oregon returns criminal indictment against Okhotnikov, Oblamska, Sergeev, and Maslakov on one count of conspiracy to commit wire fraud (max 20 years).
DOJ Office of Public AffairsMarch 2024
A court in Tbilisi, Georgia, sentences Vladimir Okhotnikov in absentia to 10 years in prison for laundering $1.1 million in Forsage proceeds through at least 53 bank accounts. Approximately $1 million in Georgian assets seized.
ICIJ Coin Laundry investigationSeptember 2024
Meta Force, a post-Forsage scheme launched by Okhotnikov from Dubai, collapses after allegedly attracting $574 million in investments.
ICIJ Coin Laundry investigationOctober 2024
Okhotnikov launches Holiverse from Dubai, combining alleged biotechnology, virtual reality, and DeFi investment elements.
ICIJ Coin Laundry investigationFebruary 2025
Okhotnikov launches Meta Whale, another referral-based investment platform using WhaleBit tokens, from Dubai.
Behind MLMAugust 2025
Okhotnikov's film 'Holiguards Saga — The Portal of Force,' directed by and starring Kevin Spacey, premieres at the Venice Film Festival. ICIJ reports the film was financed in part through Elledgy Media, a company receiving funds from shell companies under money laundering scrutiny.
ICIJ Coin Laundry investigationFebruary 2026
Olena Oblamska arrested by Thailand's Cyber Crime Investigation Bureau at a condominium in Phuket, Thailand.
ICIJ / DOJ USAO Oregon9 May 2026
Olena Oblamska extradited from Thailand to the United States under coordination between DOJ's Office of International Affairs and Thai authorities.
DOJ USAO Oregon12 May 2026
Olena Oblamska appears in U.S. District Court in Portland, Oregon, is arraigned, pleads not guilty to conspiracy to commit wire fraud, and is ordered detained pending trial.
DOJ USAO Oregon / The Block14 July 2026
Jury trial for Olena Oblamska scheduled to begin in U.S. District Court, District of Oregon (four-day trial scheduled).
DOJ USAO OregonDecision Log
- slot 423953619 · hash AmiRkJMZFW3eCZV5e7pCt1hN9b4BiV2DMGi5xKPbYMvh
- slot 423953615 · hash E1DJJsJVFkM5Z1zWx9aTpCAfD4sZy613EcGvdmSsDpbP
- slot 423718530 · hash DLPRBuLTH4m3DeCTuLJuccKAAUHhRC9VLDVEY9mhxmKV
- slot 423718527 · hash Bsw5y12kX2zA7ARj9miXc6x89DDaW34qpQfDbUJA6TPM
- slot 423329399 · hash 2SYGcSkTT2WHQro6akSSLFkEn1n5Y7TbG4eYxst8GBu9
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 20 of 22 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/31/2026, 7:30:39 AM
last updated: 6/1/2026, 5:47:41 PM
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