Vladimir “Lado” Okhotnikov, the founder of Forsage, has sought to respond to the SEC’s Forsage fraud complaint.
Okhotnikov resorts to being stupid after admitting Forsage’s business strategy is a Ponzi scam.Okhotnikov’s response to the SEC case was posted to Meta Force’s official YouTube channel.
The video, titled “TV Interview: SEC Claims Are Unfounded!” was posted on August 9th and has nearly 4000 views.
If you were anticipating a tough interview in which Okhotnikov was questioned on claims in the SEC’s case, you’ll be disappointed.
Okhotnikov begins his interview by alleging that he relocated to Georgia after “realizing that Russia is a criminal country.”
Okhotnikov claims to operate a local auto business in addition to organizing Ponzi schemes.
Okhotnikov addresses the SEC’s Forsage case once the niceties are through.
Okhotnikov begins by defining what he considers to be a “financial pyramid.” It turns out that this is Forsage’s identical business strategy.
A financial pyramid is a type of investment scheme in which the preceding individual profits at the expense of the next.
For example, you may join the initiative and put money into it. This endeavor has to return you more money, right?
But how exactly?
Someone else will enter the initiative and invest, and you will be compensated at his expense.
And how is he compensated?
At the expense of someone who will be the next person to join the project.
This method is a fraud since it does not function. It’s a sham. This type of endeavor will fail.
What I’ve just outlined is a financial pyramid Ponzi scam.
BehindMLM’s public reviews confirm that this is exactly how Forsage and its five reboots work:
Forsage (April 2020) (April 2020)
Fortron (September 2020) (September 2020)
ForsageTron (March 2021) (March 2021)
XGold Forsage (March 2021)
BUSD Forsage (May 2021) as well as MetaForce (July 2022)
Meta Force, according to Okhotnikov, is the “perfected” form of Forsage.
Okhotnikov claims it “has nothing to do with Forsage” after detailing Forsage’s precise business concept.
Okhotnikov claims that despite crashing five times and being restarted six times;
Forsage has already been in operation for two and a half years, and its system has the potential to last indefinitely.
He is technically correct. A Ponzi scheme may be indefinitely relaunched, yet victim losses continue to rise over time.
Wiping out victim losses and beginning again is not the same as having no victims.
After describing Forsage’s business strategy as an investment contract, he oddly claims the SEC’s case “has no substance at all.”
Okhotnikov’s explanation is that, despite defining Forsage’s business model as a Ponzi scheme with investors, Forsage has no investors.
For some reason, they refer to our participants as “investors,” which is incorrect because this is not an investment endeavor.
They also believe that some money was transferred to the senior executives, which they describe as a Ponzi scheme. This is not correct.
Okhotnikov doesn’t go into detail. He then claims that he “doesn’t know” if there are any Forsage victims.
It’s an intelligent contract. How can it possibly have victims? Show them to me.
There are no victims since the smart contract functions flawlessly.
Okhotnikov continued to play stupid when asked if he expected to be detained.
I’m not sure why I should be arrested. There isn’t a single law that I’ve broken.
I realize that the law of the United States is confusing since it varies by state, but we are not subject to the authority of the United States. So I’m not bothered by this predicament.
I assume Okhotnikov is referring to Georgia’s lack of an extradition pact with the United States. It is unknown whether Okhotnikov and his associates have been charged.
Okhotnikov attributes his absence in 2021 to Montana’s early 2021 Forsage securities fraud cease and desist order.
It should be mentioned that Ponzi schemes are prohibited in Georgia, as they are everywhere else. The Central Bank of Georgia is in charge of securities regulation in Georgia.
While the CBG is aware of bogus investment schemes that are sweeping the country…
…to date, Georgian authorities have refused to openly prosecute Okhotnikov or his $300 million Forsage Ponzi fraud.
Okhotnikov suggested in his interview that the CBR may have begun an internal Forsage inquiry.
In the bank, they already have some questions for me [sic]. In the firm, there is a check-up, and so on.
As soon as that happened, several individuals from the tax office and even the SEC arrived.
I’m still calm since there’s nothing wrong with me.
Okhotnikov concludes his interview by using the tired “purchase what everyone else is doing!” ruse.
There were no other initiatives with the similar profile (business model) that (the) SEC was interested in, but there are plenty.
They existed prior to Forsage and continue to exist after Forsage. Not after, because Forsage is still functional.
The most serious issue is that there is a lot of fraud on the internet. There is a massive amount of fraud.
The SEC isn’t interested in them since they’re difficult to capture.
Top executives make millions and then move on to new enterprises. The SEC does not attempt to obstruct them.
The reactions to Okhotnikov’s interview were as predictable as the names of the commentators, yet there were a few who pushed back.
Despite the fact that he has yet to respond to the SEC’s Forsage action, Okhotnikov is “confident in (his) win.”
Okhotnikov made no mention of two US promoters who have already settled Forsage fraud claims against them.
Okhotnikov’s interview was followed by a crypto bro breakdown, which he uploaded to Meta Force’s channel on August 10th.
Since the 1930s, securities fraud has been prohibited in the United States. Although the rules were enacted at different times, it is also unlawful in every country with a regulated finance industry.
According to SimilarWeb, the biggest sources of traffic to Meta Force’s website are Russia (26%), the United Kingdom (23%), and Georgia (6%).
On August 5th, the Central Bank of Russia issued a Meta Force pyramid fraud warning.