Forsage founder Vladimir “Lado” Okhotnikov has tried to handle the SEC’s Forsage fraud lawsuit in opposition to him.
After confirming Forsage’s enterprise mannequin is a Ponzi scheme, Okhotnikov falls again on taking part in dumb.
Okhotnikov addressing the SEC lawsuit in opposition to 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 the moment has nearly 4000 views.
For those who 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 prison nation”.
Along with operating Ponzi scams, Okhotnikov claims he owns an area 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 precise enterprise mannequin.
A monetary pyramid is an funding venture during which the earlier particular person will get revenue on the expense of the following particular person.
For instance, you be part of the venture and make investments some cash. This venture has to present you again more cash, proper?
However how?
Another person may even come into the venture, make investments, and at his expense, you might be paid.
And the way is he paid?
On the expense of somebody, who will be part of the venture subsequent.
It is a rip-off as a result of this scheme doesn’t work. It’s a lie. This sort of venture might be ruined.
What I described now’s a Ponzi scheme monetary pyramid.
You possibly can confirm that is exactly how Forsage and its 5 reboots work via BehindMLM’s revealed opinions:
- Forsage (April 2020)
- Fortron (September 2020)
- ForsageTron (March 2021)
- Forsage XGold (March 2021)
- Forsage BUSD (Might 2021) and
- MetaForce (July 2022)
Okhotnikov claims Meta Drive is the “perfected” model of Forsage.
After describing Forsage’s precise enterprise mannequin, Okhotnikov goes on to say it “doesn’t have something to do with Forsage”.
Regardless of collapsing 5 occasions and being rebooted six occasions, Okhotnikov states;
Forsage has already labored for 2 years and a half and its scheme can work eternally.
Technically he’s not fallacious. A Ponzi scheme can actually 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 buyers, that Forsage actually doesn’t have any buyers.
For some purpose they name our members “the buyers”, which is fallacious, as this isn’t an funding venture.
Additionally they assume there was some cash that wen as much as the highest folks they usually describe it as a Ponzi scheme. This isn’t true.
Okhotnikov doesn’t elaborate. He goes on to say he “doesn’t know” if there are Forsage victims.
It’s a sensible contract. How can it have victims? Present me them.
There aren’t any victims as a result of the good contract works completely effectively.
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 isn’t a legislation that I’ve damaged.
I perceive that the legislation of the USA is difficult, because it differs throughout the states, bue we do not need a relation to the USA jurisdiction. So I’m not troubled due to this example.
I consider 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 this 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 did not publicly take motion in opposition to Okhotnikov or his $300 million Forsage Ponzi scheme.
In his interview, Okhotnikov suggests the CBR might 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 so on.
As quickly because it occurred there got here some folks from tax service and even from SEC.
I’m nonetheless very calm as a result of I’ve nothing fallacious.
Okhotnikov wraps up his interview by falling again on the traditional “purchase everyone else is doing!” rip-off excuse.
(The) SEC was no serious about different tasks 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.
A very powerful is that there are a whole lot of fraud on the web. There’s a gigantic quantity of rip-off.
SEC will not be serious about them, as a result of it’s exhausting to catch them.
High folks make thousands and thousands and transfer to different tasks. 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 in opposition to him, Okhotnikov maintains he’s “assured in (his) victory”.
Okhotnikov didn’t handle two US promoters already settling Forsage fraud allegations in opposition to 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 because the Thirties. Though the precise legal guidelines have been carried out at differing occasions, additionally it is 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.
