Vladimir “Lado” Okhotnikov, the founder of Forsage, has tried to answer the SEC’s fraud case against him. Okhotnikov acts like he doesn’t know what’s going on after he confirms that Forsage’s business model is a Ponzi scheme.
The video of Okhotnikov talking about the lawsuit brought against him by the SEC was put on the official YouTube channel for Meta Force.
The video, which is called “TV Interview: SEC Claims Are False!”, was posted on August 9 and has almost 4,000 views at the moment.
If you were hoping for a tough interview where Okhotnikov would be questioned about the SEC’s lawsuit, this is not it. Okhotnikov starts his interview by saying that he moved to Georgia because he “figured out that Russia is a criminal country.”
Okhotnikov says he runs Ponzi schemes and also owns a car dealership in the area. After the small talk, Okhotnikov talks about the SEC’s lawsuit against Forsage.
Okhotnikov starts off by talking about what he thinks a “financial pyramid” is. It turns out that this is how Forsage does business.
A financial pyramid is an investment plan in which each person makes money at the expense of the person who comes after them.
Say you join the project and put some money into it. You must make more money from this project, right? However, Someone else will join the project and put money into it, and you will be paid from his money.
How does he get paid? at the cost of the next person who will join the project. This plan doesn’t work, so this is a scam. It’s not true. Any project like this will fail. What I’m talking about now is a financial pyramid called a Ponzi scheme.
This is exactly how Forsage and its five reboots work:
Forsage (April 2020).
Fortron (September 2020)
ForsageTron (March 2021).
Forsage XGold (March 2021).
Forsage BUSD (May 2021).
Okhotnikov says that Forsage has been “perfected” into Meta Force. Okhotnikov goes on to say that it “has nothing to do with Forsage” after explaining how Forsage makes money.
Okhotnikov says that Forsage’s plan has worked for two and a half years, even though it has failed five times and been restarted six times. It can work forever, he says. He’s not wrong in a strict sense.
A Ponzi scheme can be started over and over again, but the amount of money lost by victims keeps going up. It’s not the same as not having any victims if you erase the losses of the victims and start over.
After saying that Forsage’s business plan is an investment contract, he says something strange: “The SEC’s lawsuit has no basis at all.” Forsage’s argument is that, even though Forsage’s business model has been called a Ponzi scheme with investors, Forsage doesn’t actually have any investors.
For some reason, they call our participants “the investors,” which is wrong because this is not an investment project. They also think that the top people got some of the money, and they call it a “Ponzi scheme.”
This isn’t the case. Okhotnikov doesn’t elaborate. He then says that he “doesn’t know” if there were victims of Forsage. It is an electronic contract. How can it hurt people? Bring them to me. The smart contract works perfectly, so there are no people who are hurt by it.
Okhotnikov continued to act dumb when he was asked if he thought he would be arrested. He said, “I don’t know why I should be arrested.” No law has been broken by me. I know that the law in the US is complicated because it varies from state to state, but we don’t have anything to do with US law.
So I’m not worried about what’s going on. I think Okhotnikov is talking about the fact that Georgia does not have an extradition treaty with the United States. It’s still not clear if Okhotnikov and his helpers have been charged.
Okhotnikov says that Montana’s early 2021 Forsage securities fraud stop and desist order is to blame for his disappearance. It’s important to know that Ponzi schemes are illegal everywhere in the world, including Georgia.
Securities all over the country are regulated by the Central Bank of Georgia. Even though the CBG knows that shady investment schemes are popping up all over the country, So far, the Georgian government hasn’t done anything public about Okhotnikov or his $300 million Forsage Ponzi scheme.
Okhotnikov says in his interview that the CBR might have started an internal investigation into Forsage. He says, “They already have some questions for me at the bank.” At the firm, there is a checkup, etc.
As soon as it happened, people from the tax service and even the SEC came to see what was going on. I’m still pretty calm because nothing is wrong with me. Okhotnikov ends his interview by using the old scam excuse, “Buy what everyone else is doing!” The SEC wasn’t interested in other projects with the same profile (business model), but there are so many.
They were around before Forsage and were still around after he died. Not after, because forsage is still useful. The most important thing to know is that there is a lot of fraud on the internet. There are a huge number of cons out there. They are hard to catch, so the SEC is not interested in them.
People at the top make lots of money and move on to other things. They are not stopped by the SEC. Responses to Okhotnikov’s interview are as predictable as the names of the commenters, but some people pushed back; Okhotnikov says he is “confident in (his) victory,” even though he hasn’t yet filed a response to the SEC’s Forsage lawsuit against him.
Okhotnikov didn’t say anything about the two US promoters who had already settled fraud claims. After his interview, Okhotnikov posted a crypto bro meltdown on Meta Force’s channel on August 10. Since the 1930s, it has been against the law in the US to lie about security.
Even though the laws have changed over time, it is also against the law in every country with a regulated financial industry. According to SimilarWeb, the most people visiting Meta Force’s website are from Russia (26%), the United Kingdom (23%), and Georgia (6%).
On August 5, the Central Bank of Russia warned people about the Meta Force pyramid scheme.