Four founders of alleged $300-million Ponzi scheme, last known to be living in Russia, the Republic of Georgia, and Indonesia, among 11 facing charges from the Securities and Exchange Commission
The Securities and Exchange Commission said on Monday it charged 11 people for their roles in creating and promoting a fraudulent crypto pyramid and Ponzi scheme that raised over $300 million from retail investors worldwide, including in the United States.
Forsage also allegedly used assets from new investors to pay earlier investors in a typical Ponzi structure, the SEC complaint added.
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