Audit log

Every state-changing event for Forsage: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-05-31 18:20:51Z
   Score: ? → ? (no score change)
   anchoranchored

   chain

   ●mainnet-betaslot 423,427,609

   sig

   3pXnGuK9G3nd…maX95NJLcopyexplorer ↗

   hash

   9sVSeoKmEPAD…cYy5MU8Xcopysha256 → base58

   verifying row…full verify ↗

   canonical bytes (25520 B) ▸

   {"actor":"system:backfill","investigation_id":"c8168091-3650-4990-b12f-f7d865fd765b","kind":"publish","page_slug":"forsage","published_at":"2026-05-31T18:20:51.100Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Forsage","sections":[{"content":"On August 1, 2022, the U.S. Securities and Exchange Commission filed a civil enforcement complaint in the U.S. District Court for the Northern District of Illinois (Case No. 1:22-CV-03978) against eleven individuals for their alleged roles in creating and promoting Forsage. The SEC alleged that the defendants operated a fraudulent crypto pyramid and Ponzi scheme that raised more than $300 million from millions of retail investors worldwide, including in the United States. The four founders — Vladimir Okhotnikov, Olena Oblamska (a/k/a 'Lola Ferrari' and 'Jane Doe'), Mikhail Sergeev, and Sergey Maslakov — were alleged to have created, operated, and maintained the scheme through smart contracts on Ethereum, Tron, and Binance Smart Chain. Three U.S.-based promoters — Samuel D. Ellis (Louisville, KY), Mark F. Hamlin (Henrico, VA), and Sarah L. Theissen (Hartford, WI) — were alleged to have been engaged by the founders to endorse Forsage on its website and social media. Four members of the so-called 'Crypto Crusaders,' the largest U.S. promotional group for the scheme, were also charged: Carlos L. Martinez (Chicago, IL), Ronald R. Deering (Coeur d'Alene, ID), Cheri Beth Bowen (Pelahatchie, MS), and Alisha R. Shepperd (Dunedin, FL). The SEC charged violations of the registration and anti-fraud provisions of the federal Securities Act and Securities Exchange Act. SEC Chair Gary Gensler stated that 'fraudsters cannot circumvent the federal securities laws by focusing their schemes on smart contracts and blockchains.' Several U.S.-based defendants reached early settlements: Ellis, Theissen, Hamlin, and Bowen all agreed to injunctions and disgorgement; financial penalties were to be determined by the court.","heading":"SEC Civil Enforcement Action (August 2022)","severity":"critical","sources":[{"credibility":1,"name":"SEC Press Release: SEC Charges Eleven Individuals in $300 Million Crypto Pyramid Scheme","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2022-134"},{"credibility":1,"name":"SEC Complaint: Vladimir Okhotnikov et al. (PDF)","type":"court_filing","url":"https://www.sec.gov/files/litigation/complaints/2022/comp-pr2022-134.pdf"},{"credibility":2,"name":"CoinDesk: SEC Slaps Founders, Promoters of Alleged Ponzi Scheme Forsage With Fraud Charges","type":"news_article","url":"https://www.coindesk.com/policy/2022/08/01/sec-slaps-founders-promoters-of-alleged-ponzi-scheme-forsage-with-fraud-charges"},{"credibility":1,"name":"CNBC: SEC charges 11 people in alleged $300 million crypto Ponzi scheme","type":"news_article","url":"https://www.cnbc.com/2022/08/01/sec-charges-11-people-in-alleged-300-million-crypto-ponzi-scheme.html"},{"credibility":2,"name":"The Block: SEC charges Forsage founders, promoters in $300 million crypto Ponzi scheme lawsuit","type":"news_article","url":"https://www.theblock.co/post/160624/sec-charges-forsage-founders-promoters-in-300-million-crypto-ponzi-scheme-lawsuit"}]},{"content":"On February 22, 2023, a federal grand jury in the District of Oregon returned a criminal indictment charging the four Forsage founders — Vladimir Okhotnikov (a/k/a 'Lado'), Olena Oblamska (a/k/a 'Lola Ferrari'), Mikhail Sergeev (a/k/a 'Mike Mooney,' 'Gleb,' 'Gleb Million'), and Sergey Maslakov — with one count of conspiracy to commit wire fraud in connection with a scheme alleged to have raised approximately $340 million from victim-investors. The indictment alleged that the founders coded at least one of Forsage's smart contracts (the 'xGold' contract on Ethereum) in a way that fraudulently siphoned investors' funds to cryptocurrency accounts under the founders' control, contrary to representations that '100% of the income goes directly and transparently to the members.' Each defendant faces up to twenty years in federal prison if convicted. The case was filed in the U.S. District Court for the District of Oregon. Three of the four founders — Okhotnikov, Sergeev, and Maslakov — remained at large as of May 2026. Okhotnikov, who was last known to be residing in the United Arab Emirates, resurfaced publicly as the writer and co-star of a film directed by actor Kevin Spacey. In May 2026, Oblamska was extradited from Thailand and arraigned on May 11, 2026 in Portland, Oregon; she pleaded not guilty and was ordered detained pending a jury trial scheduled to begin July 14, 2026.","heading":"DOJ Criminal Indictment (February 2023)","severity":"critical","sources":[{"credibility":1,"name":"DOJ Press Release: Forsage Founders Indicted in $340M DeFi Crypto Scheme","type":"regulatory","url":"https://www.justice.gov/archives/opa/pr/forsage-founders-indicted-340m-defi-crypto-scheme"},{"credibility":1,"name":"ICIJ: Alleged cryptocurrency Ponzi scheme 'goddess' extradited from Thailand to face conspiracy charges in US","type":"news_article","url":"https://www.icij.org/investigations/coin-laundry/alleged-cryptocurrency-ponzi-scheme-goddess-extradited-from-thailand-to-face-conspiracy-charges-in-us/"},{"credibility":2,"name":"The Block: Alleged Forsage co-founder extradited from Thailand, pleads not guilty in $340 million Ponzi case","type":"news_article","url":"https://www.theblock.co/post/401563/alleged-forsage-co-founder-extradited-from-thailand-pleads-not-guilty-in-340-million-ponzi-case"},{"credibility":3,"name":"BehindMLM: Lado Okhotnikov indicted for Forsage Ponzi wire fraud","type":"news_article","url":"https://behindmlm.com/companies/forsage/lado-okhotnikov-indicted-for-forsage-ponzi-wire-fraud/"},{"credibility":2,"name":"Crowdfund Insider: DeFi Ponzi — DOJ Indicts Forsage Founders In $340 Million Fraud Case","type":"news_article","url":"https://www.crowdfundinsider.com/2023/02/202892-defi-ponzi-doj-indicts-forsage-founders-in-340-million-fraud-case/"}]},{"content":"Forsage operated through a series of on-chain smart contracts deployed on the Ethereum, Tron, and Binance Smart Chain (BNB) networks. The platform presented itself as a '100% decentralized' peer-to-peer financial system in which no owner could alter or disable the contracts. The primary products were two matrix systems: X3 (also labeled xXX) and X4 (also labeled xGold). In the X3 matrix, a participant purchased a 'slot' and recruited exactly three users beneath them; funds from recruited users passed upward to the recruiter and, in some cases, further up the chain. When all three sub-slots were filled, the slot 'blocked,' requiring the participant to purchase the next higher-level slot to continue earning. In the X4 (xGold) matrix, each slot had 30 positions arranged across four levels with varying payout percentages. The xGold contract on Ethereum was cited by the DOJ as specifically coded to siphon funds directly to wallets controlled by the founders, contrary to the platform's stated mechanics. Academic research (Kell et al., 2021/2023 — 'Forsage: Anatomy of a Smart-Contract Pyramid Scheme') analyzed the on-chain data and found that of approximately 1.04 million Ethereum addresses participating in the ETH matrix, approximately 88% (roughly 919,194 addresses) sustained losses, losing a collective 305,785 ETH. Only about 11.8% of participants realized a profit. Funds deposited by newer investors were immediately and automatically routed by the smart contracts to earlier participants, satisfying the legal definition of a Ponzi structure. Promoters marketed the scheme by emphasizing that the smart contracts could not be altered by anyone, using the immutability of blockchain technology as a false indicator of trustworthiness. At peak activity, Forsage reportedly consumed roughly a quarter of Ethereum's available block space, contributing to elevated gas fees across the network.","heading":"Smart Contract Pyramid and Ponzi Mechanics","severity":"critical","sources":[{"credibility":2,"name":"arXiv: Forsage — Anatomy of a Smart-Contract Pyramid Scheme (Kell et al., 2021)","type":"research","url":"https://arxiv.org/abs/2105.04380"},{"credibility":2,"name":"Financial Cryptography 2023 (IFCA): Forsage — Anatomy of a Smart-Contract Pyramid Scheme (preproceedings PDF)","type":"research","url":"https://fc23.ifca.ai/preproceedings/31.pdf"},{"credibility":2,"name":"Baker McKenzie Blockchain Blog: SEC Sues Forsage For Allegedly Being a Ponzi Scheme","type":"news_article","url":"https://blockchain.bakermckenzie.com/2022/08/04/sec-sues-forsage-for-allegedly-being-a-ponzi-scheme/"},{"credibility":1,"name":"SEC Complaint: Vladimir Okhotnikov et al. (PDF)","type":"court_filing","url":"https://www.sec.gov/files/litigation/complaints/2022/comp-pr2022-134.pdf"}]},{"content":"Before the U.S. SEC acted, multiple regulators had already flagged Forsage as a fraudulent scheme. In July 2020, the Philippine Securities and Exchange Commission issued a warning that Forsage 'resembles a Ponzi scheme.' On September 17, 2020, the Philippine SEC issued a formal cease-and-desist order directing Forsage to stop selling or offering securities and to cease its internet presence. In March 2021, the Montana Commissioner of Securities and Insurance issued a further cease-and-desist order, stating that the scheme had been operating while targeting U.S. residents and had generated multiple complaints from Montana residents. According to the SEC civil complaint, the founders and promoters did not cease operations in response to these orders; instead, they allegedly continued to promote Forsage while publicly denying the regulatory findings, including through YouTube videos. The defendants' decision to continue operating after receiving formal cease-and-desist notices from multiple regulators was cited by U.S. enforcement authorities as an aggravating factor.","heading":"Prior Regulatory Warnings Ignored","severity":"high","sources":[{"credibility":1,"name":"Montana Commissioner of Securities and Insurance: Montana regulator issues cease and desist order against Forsage scam","type":"regulatory","url":"https://csimt.gov/2021/04/07/montana-regulator-issues-cease-and-desist-order-against-forsage-scam/"},{"credibility":2,"name":"CoinGeek: Forsage Ponzi scheme ordered to cease and desist in Philippines","type":"news_article","url":"https://coingeek.com/forsage-ponzi-scheme-ordered-to-cease-and-desist-in-philippines/"},{"credibility":2,"name":"BitPinas: US SEC Cited Local Counterpart Over Forsage Cease-and-Desist Order","type":"news_article","url":"https://bitpinas.com/news/us-sec-ph-forsage/"},{"credibility":1,"name":"SEC Press Release: SEC Charges Eleven Individuals in $300 Million Crypto Pyramid Scheme","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2022-134"}]},{"content":"In March 2024, a court in Tbilisi, Georgia sentenced Vladimir Okhotnikov in absentia to ten years in prison for laundering approximately $1.1 million in proceeds from the Forsage fraud through at least 53 bank accounts belonging to him and his associates. Despite facing criminal charges in multiple jurisdictions, Okhotnikov has continued entrepreneurial activities. In mid-2022, he launched Meta Force, a successor scheme marketed as a metaverse-enabled DeFi product; over $42 million in DAI stablecoins were reported deposited into Meta Force within its first month of operation. Meta Force subsequently collapsed in late 2022. In October 2024, Okhotnikov rebranded Meta Force as Holiverse, which also failed. In parallel, Okhotnikov appeared as co-writer, co-producer, and co-star of a film titled 'Holiguards Saga — The Portal of Force,' directed by actor Kevin Spacey; the ICIJ reported in 2025 that Portuguese investigators were probing a film producer connected to Okhotnikov. As of May 2026, Okhotnikov was believed to be residing in the UAE and had not been arrested or extradited.","heading":"Georgian Court Sentencing and Okhotnikov's Continued Activities","severity":"high","sources":[{"credibility":1,"name":"ICIJ: Spacey's Holiguards film backed by alleged crypto scammer","type":"news_article","url":"https://www.icij.org/investigations/coin-laundry/holiverse-lado-forsage-cryptocurrency-scam/"},{"credibility":3,"name":"BehindMLM: Lado Okhotnikov's Meta Force Ponzi reboots as Holiverse","type":"news_article","url":"https://behindmlm.com/companies/forsage/lado-okhotnikovs-meta-force-ponzi-reboots-as-holiverse/"},{"credibility":2,"name":"Decrypt: Kevin Spacey Reveals Film Created With Alleged Crypto Ponzi Schemer","type":"news_article","url":"https://decrypt.co/337778/kevin-spacey-film-created-alleged-crypto-ponzi-schemer"},{"credibility":2,"name":"FX Leaders: Forsage Founders Indicted over the $340 Million Ponzi Scheme","type":"news_article","url":"https://www.fxleaders.com/news/2023/02/24/forsage-founders-indicted-over-the-340-million-ponzi-scheme/"}]},{"content":"According to combined data from the SEC complaint, DOJ indictment, and academic blockchain analysis, Forsage attracted approximately 1 million or more participating Ethereum addresses, with additional participants on the Tron and BNB Smart Chain networks. Total funds raised across all chains was cited by U.S. prosecutors at approximately $300–340 million. Blockchain analytics cited in the DOJ indictment show that more than 80% of investors in Forsage's Ethereum program received less ETH back than they had deposited, and more than half received nothing at all. Academic research confirmed approximately 88% of participants as net losers. Multi-million-dollar gains were concentrated among a small number of top-level participants, consistent with typical pyramid scheme distributions. The scheme's design caused Forsage to become, at its peak, one of the largest consumers of block space on the Ethereum network, where daily transaction counts exceeded 40,000 at peak, contributing to elevated gas fees for all Ethereum users during that period.","heading":"Scale, Victims, and Investor Losses","severity":"high","sources":[{"credibility":2,"name":"arXiv: Forsage — Anatomy of a Smart-Contract Pyramid Scheme","type":"research","url":"https://arxiv.org/abs/2105.04380"},{"credibility":1,"name":"DOJ Press Release: Forsage Founders Indicted in $340M DeFi Crypto Scheme","type":"regulatory","url":"https://www.justice.gov/archives/opa/pr/forsage-founders-indicted-340m-defi-crypto-scheme"},{"credibility":1,"name":"NBC News: SEC charges 11 people in alleged $300 million crypto Ponzi scheme","type":"news_article","url":"https://www.nbcnews.com/tech/crypto/sec-charges-11-people-alleged-300-million-crypto-ponzi-scheme-rcna41015"}]},{"content":"The Forsage founders operated under pseudonyms for a substantial portion of the scheme's active period. Olena Oblamska presented herself under the alias 'Lola Ferrari'; court documents initially identified her only as 'Jane Doe a/k/a Lola Ferrari' in the August 2022 SEC complaint. Vladimir Okhotnikov operated publicly under the nickname 'Lado.' Mikhail Sergeev used multiple aliases including 'Mike Mooney,' 'Gleb,' and 'Gleb Million.' The use of pseudonyms was a deliberate tactic that complicated early regulatory identification. The founders were last known to be residing internationally: Okhotnikov in Tbilisi, Georgia (later UAE), Oblamska in Bali, Indonesia (later Thailand), and Sergeev and Maslakov in Moscow, Russia, placing them beyond the immediate reach of U.S. law enforcement at the time of the civil filing.","heading":"Anonymous and Pseudonymous Team Structure","severity":"medium","sources":[{"credibility":1,"name":"SEC Complaint: Vladimir Okhotnikov et al. (PDF)","type":"court_filing","url":"https://www.sec.gov/files/litigation/complaints/2022/comp-pr2022-134.pdf"},{"credibility":1,"name":"ICIJ: Alleged cryptocurrency Ponzi scheme 'goddess' extradited from Thailand to face conspiracy charges in US","type":"news_article","url":"https://www.icij.org/investigations/coin-laundry/alleged-cryptocurrency-ponzi-scheme-goddess-extradited-from-thailand-to-face-conspiracy-charges-in-us/"}]}],"sources_used":[{"credibility":1,"name":"SEC Press Release: SEC Charges Eleven Individuals in $300 Million Crypto Pyramid Scheme","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2022-134"},{"credibility":1,"name":"SEC Complaint: Vladimir Okhotnikov et al. (PDF)","type":"court_filing","url":"https://www.sec.gov/files/litigation/complaints/2022/comp-pr2022-134.pdf"},{"credibility":1,"name":"DOJ Press Release: Forsage Founders Indicted in $340M DeFi Crypto Scheme","type":"regulatory","url":"https://www.justice.gov/archives/opa/pr/forsage-founders-indicted-340m-defi-crypto-scheme"},{"credibility":1,"name":"DOJ Criminal Division: United States v. Vladimir Okhotnikov et al.","type":"court_filing","url":"https://www.justice.gov/criminal-vns/case/united-states-v-vladimir-okhotnikov-et-al"},{"credibility":1,"name":"Montana Commissioner of Securities and Insurance: Cease and Desist Order Against Forsage","type":"regulatory","url":"https://csimt.gov/2021/04/07/montana-regulator-issues-cease-and-desist-order-against-forsage-scam/"},{"credibility":1,"name":"ICIJ: Alleged cryptocurrency Ponzi scheme 'goddess' extradited from Thailand to face conspiracy charges in US","type":"news_article","url":"https://www.icij.org/investigations/coin-laundry/alleged-cryptocurrency-ponzi-scheme-goddess-extradited-from-thailand-to-face-conspiracy-charges-in-us/"},{"credibility":1,"name":"ICIJ: Spacey's Holiguards film backed by alleged crypto scammer","type":"news_article","url":"https://www.icij.org/investigations/coin-laundry/holiverse-lado-forsage-cryptocurrency-scam/"},{"credibility":1,"name":"CNBC: SEC charges 11 people in alleged $300 million crypto Ponzi scheme","type":"news_article","url":"https://www.cnbc.com/2022/08/01/sec-charges-11-people-in-alleged-300-million-crypto-ponzi-scheme.html"},{"credibility":1,"name":"NBC News: SEC charges 11 people in alleged $300 million crypto Ponzi scheme","type":"news_article","url":"https://www.nbcnews.com/tech/crypto/sec-charges-11-people-alleged-300-million-crypto-ponzi-scheme-rcna41015"},{"credibility":2,"name":"CoinDesk: SEC Slaps Founders, Promoters of Alleged Ponzi Scheme Forsage With Fraud Charges","type":"news_article","url":"https://www.coindesk.com/policy/2022/08/01/sec-slaps-founders-promoters-of-alleged-ponzi-scheme-forsage-with-fraud-charges"},{"credibility":2,"name":"The Block: SEC charges Forsage founders, promoters in $300 million crypto Ponzi scheme lawsuit","type":"news_article","url":"https://www.theblock.co/post/160624/sec-charges-forsage-founders-promoters-in-300-million-crypto-ponzi-scheme-lawsuit"},{"credibility":2,"name":"The Block: Alleged Forsage co-founder extradited from Thailand, pleads not guilty in $340 million Ponzi case","type":"news_article","url":"https://www.theblock.co/post/401563/alleged-forsage-co-founder-extradited-from-thailand-pleads-not-guilty-in-340-million-ponzi-case"},{"credibility":2,"name":"Decrypt: Kevin Spacey Reveals Film Created With Alleged Crypto Ponzi Schemer","type":"news_article","url":"https://decrypt.co/337778/kevin-spacey-film-created-alleged-crypto-ponzi-schemer"},{"credibility":2,"name":"arXiv: Forsage — Anatomy of a Smart-Contract Pyramid Scheme (Kell et al., 2021)","type":"research","url":"https://arxiv.org/abs/2105.04380"},{"credibility":2,"name":"CoinGeek: Forsage Ponzi scheme ordered to cease and desist in Philippines","type":"news_article","url":"https://coingeek.com/forsage-ponzi-scheme-ordered-to-cease-and-desist-in-philippines/"},{"credibility":2,"name":"Baker McKenzie Blockchain Blog: SEC Sues Forsage For Allegedly Being a Ponzi Scheme","type":"news_article","url":"https://blockchain.bakermckenzie.com/2022/08/04/sec-sues-forsage-for-allegedly-being-a-ponzi-scheme/"},{"credibility":2,"name":"Axios: SEC charges 11 people with crypto pyramid scheme","type":"news_article","url":"https://www.axios.com/2022/08/01/sec-charged-11-people-crypto-pyramid-scheme-ponzi-forsage"},{"credibility":3,"name":"BehindMLM: SEC charges eleven Forsage scammers with securities fraud","type":"news_article","url":"https://behindmlm.com/companies/sec-charges-eleven-forsage-scammers-with-securities-fraud/"},{"credibility":3,"name":"BehindMLM: Cheri Beth Bowen settles Forsage fraud with SEC","type":"news_article","url":"https://behindmlm.com/companies/forsage/cheri-beth-bowen-settles-forsage-fraud-with-sec/"},{"credibility":3,"name":"BehindMLM: Lado Okhotnikov's Meta Force Ponzi reboots as Holiverse","type":"news_article","url":"https://behindmlm.com/companies/forsage/lado-okhotnikovs-meta-force-ponzi-reboots-as-holiverse/"}],"summary":"Forsage (forsage.io) was a smart-contract-based MLM platform launched in January 2020 on Ethereum, Tron, and Binance Smart Chain that operated as a pyramid and Ponzi scheme, raising approximately $300–340 million from retail investors worldwide. The U.S. SEC filed civil charges against eleven individuals in August 2022, and a federal grand jury in Oregon indicted four founders in February 2023 on conspiracy to commit wire fraud; approximately 88% of participating addresses lost money. As of May 2026, one founder has been extradited and pleaded not guilty while three remain at large.","timeline":[{"date":"2020-01-01","event":"Forsage.io launched by Vladimir Okhotnikov, Olena Oblamska (Lola Ferrari), Mikhail Sergeev, and Sergey Maslakov, initially on the Ethereum blockchain.","source":"SEC Press Release / DOJ Indictment","source_url":"https://www.sec.gov/newsroom/press-releases/2022-134"},{"date":"2020-07-01","event":"Philippine SEC issues warning that Forsage 'resembles a Ponzi scheme.'","source":"BitPinas","source_url":"https://bitpinas.com/news/us-sec-ph-forsage/"},{"date":"2020-09-17","event":"Philippine SEC issues formal cease-and-desist order against Forsage for illegal solicitation of investments.","source":"CoinGeek","source_url":"https://coingeek.com/forsage-ponzi-scheme-ordered-to-cease-and-desist-in-philippines/"},{"date":"2021-03-01","event":"Montana Commissioner of Securities and Insurance issues a cease-and-desist order against Forsage following complaints from Montana residents.","source":"Montana Commissioner of Securities and Insurance","source_url":"https://csimt.gov/2021/04/07/montana-regulator-issues-cease-and-desist-order-against-forsage-scam/"},{"date":"2021-05-11","event":"Academic preprint 'Forsage: Anatomy of a Smart-Contract Pyramid Scheme' published on arXiv by Kell et al. at Cornell Tech / IC3, providing the first comprehensive on-chain analysis of the scheme.","source":"arXiv","source_url":"https://arxiv.org/abs/2105.04380"},{"date":"2022-06-15","event":"Okhotnikov launches Meta Force, a successor MLM smart contract scheme marketed as a metaverse product.","source":"BehindMLM","source_url":"https://behindmlm.com/companies/forsage/lado-okhotnikovs-meta-force-ponzi-reboots-as-holiverse/"},{"date":"2022-08-01","event":"U.S. SEC files civil enforcement complaint against eleven individuals (four founders and seven promoters) in the Northern District of Illinois, alleging a $300 million pyramid and Ponzi scheme.","source":"SEC Press Release","source_url":"https://www.sec.gov/newsroom/press-releases/2022-134"},{"date":"2022-08-25","event":"Court approves Mark F. Hamlin's settlement with the SEC.","source":"BehindMLM","source_url":"https://behindmlm.com/companies/forsage/mark-f-hamlin-settles-forsage-fraud-with-sec/"},{"date":"2022-09-02","event":"Court approves Cheri Beth Bowen's settlement with the SEC; she is the fourth U.S. promoter to settle.","source":"BehindMLM","source_url":"https://behindmlm.com/companies/forsage/cheri-beth-bowen-settles-forsage-fraud-with-sec/"},{"date":"2023-02-22","event":"Federal grand jury in the District of Oregon returns criminal indictment against all four Forsage founders for conspiracy to commit wire fraud, with alleged losses cited at approximately $340 million.","source":"DOJ Press Release","source_url":"https://www.justice.gov/archives/opa/pr/forsage-founders-indicted-340m-defi-crypto-scheme"},{"date":"2024-03-01","event":"Court in Tbilisi, Georgia sentences Vladimir Okhotnikov in absentia to ten years in prison for laundering approximately $1.1 million in Forsage proceeds through 53 bank accounts.","source":"ICIJ","source_url":"https://www.icij.org/investigations/coin-laundry/holiverse-lado-forsage-cryptocurrency-scam/"},{"date":"2024-10-01","event":"Okhotnikov relaunches his successor scheme as 'Holiverse' after Meta Force's collapse; the rebranded scheme also fails.","source":"BehindMLM","source_url":"https://behindmlm.com/companies/forsage/lado-okhotnikovs-meta-force-ponzi-reboots-as-holiverse/"},{"date":"2026-02-01","event":"Thailand's Cyber Crime Investigation Bureau arrests Olena Oblamska (Lola Ferrari) in a raid on a condominium in Phuket.","source":"ICIJ","source_url":"https://www.icij.org/investigations/coin-laundry/alleged-cryptocurrency-ponzi-scheme-goddess-extradited-from-thailand-to-face-conspiracy-charges-in-us/"},{"date":"2026-05-11","event":"Olena Oblamska is arraigned in federal court in Portland, Oregon after extradition from Thailand; she pleads not guilty to conspiracy to commit wire fraud. Trial scheduled for July 14, 2026.","source":"The Block","source_url":"https://www.theblock.co/post/401563/alleged-forsage-co-founder-extradited-from-thailand-pleads-not-guilty-in-340-million-ponzi-case"}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision 1125f332-210f-43b2-8804-f1eb8a328174copy