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Samuel Ellis & Sarah Theissen & SEC & Forsage – Scam Review

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Samuel D. Ellis and Sarah Theissen, forsage fraudsters, have settled fraud charges.

The charges were presented in an SEC lawsuit, which claimed Forsage was a $300 million Ponzi scam.

Ellis and Theissen are two of eleven Forsage fraudsters who were charged by the SEC earlier this month. They are the first defendants to reach an agreement.

Ellis and Theissen were members of the “Crypto Crusaders,” the largest group of Forsage advocates in the United States.

Forsage was promoted on YouTube by Ellis. Theissen performed the same, as well as serve as an administrator for Crypto Crusaders.

On August 8th, Ellis and Theissen submitted their Forsage settlements.

Ellis is accused of stealing $72,405 through Forsage, according to the SEC. Ellis’ settlement includes $36,621 in disgorgement, $1021 in prejudgment interest, and a $31,128 civil penalty ($68,770 total).

Theissen is accused of stealing “at least $130,118.” The disgorgement and civil penalty for Theissen will be determined at a later date.

Ellis and Theissen have both been permanently barred from committing additional securities fraud offences.

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