U.S. SEC Indicts 11 People in Connection to $300M Crypto Pyramid Scheme

  • The Securities and Exchange Commission charged 11 people for their roles in creating and promoting a fraudulent crypto pyramid and Ponzi scheme that raised over $300M from retail investors worldwide.
  • Those charged included the four founders of the scheme named Forsage. They were last known to be living in Russia, the Republic of Georgia, and Indonesia, the SEC said in a statement.