Forsage founder Vladimir “Lado” Okhotnikov has tried to deal with the SEC’s Forsage fraud lawsuit towards him.
After confirming Forsage’s enterprise mannequin is a Ponzi scheme, Okhotnikov falls again on taking part in dumb.
Okhotnikov addressing the SEC lawsuit towards him was uploaded to Meta Drive’s official YouTube channel.
Titled “TV Interview: SEC Claims Are Unfounded!”, the video was uploaded on August ninth and at present has virtually 4000 views.
In case you had been anticipating a hard-hitting interview during which Okhotnikov was pressed on allegations within the SEC’s lawsuit, this isn’t that.
Okhotnikov opens his interview by claiming he moved to Georgia after he “discovered out that Russia is a legal nation”.
Along with operating Ponzi scams, Okhotnikov claims he owns a neighborhood automobile dealership.
With pleasantries out of the best way, Okhotnikov addresses the SEC’s Forsage lawsuit.
Okhotnikov begins by explaining what he believes a “monetary pyramid” is. Seems it’s Forsage’s actual enterprise mannequin.
A monetary pyramid is an funding mission during which the earlier individual will get revenue on the expense of the subsequent individual.
For instance, you be part of the mission and make investments some cash. This mission has to present you again extra money, proper?
However how?
Another person may even come into the mission, make investments, and at his expense, you’re paid.
And the way is he paid?
On the expense of somebody, who will be part of the mission subsequent.
This can be a rip-off as a result of this scheme doesn’t work. It’s a lie. This sort of mission can be ruined.
What I described now’s a Ponzi scheme monetary pyramid.
You’ll be able to confirm that is exactly how Forsage and its 5 reboots work via BehindMLM’s revealed critiques:
- Forsage (April 2020)
- Fortron (September 2020)
- ForsageTron (March 2021)
- Forsage XGold (March 2021)
- Forsage BUSD (Could 2021) and
- MetaForce (July 2022)
Okhotnikov claims Meta Drive is the “perfected” model of Forsage.
After describing Forsage’s actual enterprise mannequin, Okhotnikov goes on to assert it “doesn’t have something to do with Forsage”.
Regardless of collapsing 5 instances and being rebooted six instances, Okhotnikov states;
Forsage has already labored for 2 years and a half and its scheme can work ceaselessly.
Technically he’s not mistaken. A Ponzi scheme can in truth be infinitely rebooted – however over time sufferer losses nonetheless mount.
Wiping sufferer losses and beginning once more isn’t the identical as not having any victims.
After figuring out Forsage’s enterprise mannequin as an funding contract, he bizarrely goes on to state the SEC’s lawsuit “doesn’t have a basis in any respect”.
Okhotnikov’s reasoning is that, once more after figuring out Forsage’s enterprise mannequin as a Ponzi scheme with traders, that Forsage in truth doesn’t have any traders.
For some cause they name our members “the traders”, which is mistaken, as this isn’t an funding mission.
Additionally they suppose there was some cash that wen as much as the highest individuals and so they describe it as a Ponzi scheme. This isn’t true.
Okhotnikov doesn’t elaborate. He goes on to assert he “doesn’t know” if there are Forsage victims.
It’s a wise contract. How can it have victims? Present me them.
There are not any victims as a result of the good contract works completely nicely.
When requested whether or not he expects to be arrested, Okhotnikov continued to play dumb;
I don’t perceive why I must be arrested. There is no such thing as a regulation that I’ve damaged.
I perceive that the regulation of the USA is difficult, because it differs throughout the states, bue we shouldn’t have a relation to the USA jurisdiction. So I’m not troubled due to this example.
I imagine Okhotnikov is referencing Georgia not having an extradition treaty with the US. Whether or not Okhotnikov and his accomplices have been indicted stays unclear.
Okhotnikov credit his 2021 disappearance to Montana’s early 2021 Forsage securities fraud stop and desist.
It must be famous that Ponzi schemes are simply as unlawful in Georgia as they’re anyplace else on the planet. The Central Financial institution of Georgia regulates securities nationally.
Whereas the CBG are conscious of fraudulent funding schemes spreading throughout the nation…
…so far Georgian authorities have didn’t publicly take motion towards Okhotnikov or his $300 million Forsage Ponzi scheme.
In his interview, Okhotnikov suggests the CBR may need launched an inner Forsage investigation;
They have already got some questions for me within the financial institution [sic]. There’s a check-up within the agency, and many others.
As quickly because it occurred there got here some individuals from tax service and even from SEC.
I’m nonetheless very calm as a result of I’ve nothing mistaken.
Okhotnikov wraps up his interview by falling again on the traditional “purchase all people else is doing!” rip-off excuse.
(The) SEC was no considering different initiatives with the identical profile (enterprise mannequin), however there are such a lot of.
They existed earlier than Forsage and exist after Forsage. Not after, since Forsage nonetheless works.
Crucial is that there are a variety of fraud on the web. There’s a gigantic quantity of rip-off.
SEC shouldn’t be considering them, as a result of it’s onerous to catch them.
High individuals make hundreds of thousands and transfer to different initiatives. SEC doesn’t attempt to block them.
Responses to Okhotnikov’s interview are as predictable because the names of the commenters, however there have been some who pushed again;
Regardless of not but submitting a response to the SEC’s Forsage lawsuit towards him, Okhotnikov maintains he’s “assured in (his) victory”.
Okhotnikov didn’t tackle two US promoters already settling Forsage fraud allegations towards them.
Okhotnikov adopted up his interview with a crypto bro meltdown, uploaded to Meta Drive’s channel August tenth.
Securities fraud has been unlawful within the US for the reason that Nineteen Thirties. Though the precise legal guidelines have been applied at differing instances, it’s also unlawful in any nation with a regulated finance trade.
SimilarWeb ranks prime sources of visitors to Meta Drive’s web site as Russia (26%), the UK (23%) and Georgia (6%).
The Central Financial institution of Russia issued a Meta Drive pyramid fraud warning on August fifth.
