The U.S Department of Justice (DOJ) has indicted the founders of Forsage for running a $340 million Ponzi scheme that was faked as a decentralized finance (DeFi) investing platform.
The DOJ nabbed four Russian nationals – Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev and Sergey Maslakov – for promoting Forsage on social media as a legitimate system, when in fact it was fraudulent scheme.
Forsage tapped smart contracts on Ethereum, Binance Smart Chain and Tron that were "consistent with a Ponzi scheme," the DOJ said.
Last year, the U.S. Securities and Exchange Commission charged 11 people tied to Forsage with fraud.
