The Securities and Exchange Commission (SEC) has charged Forsage co-founder Vladimir “Lado” Okhotnikov with civil fraud as of August 1.
The government agency claims Forsage is a Ponzi scam worth $300 million.
Okhotnikov doubled down on the effort by hosting a webinar titled “Burning Question to Meta Force Founder” the very same day.
If you think answering the SEC’s complaint is urgent, you’re mistaken.
Vitaliy Dubinin, a serial fraudster, hosted the most recent Meta Force webinar.
A self-proclaimed “International Leader of MetaForce,” Dubinin introduced himself.
Israeli native Dubinin is a known Ponzi scam promoter.
Dubinin moved to Dubai not too long ago. Scammers can operate freely in Dubai because of its lax attitude toward MLM-related securities fraud, its limited extradition treaties, and its refusal to cooperate with foreign law enforcement.
Becky Cai, who Dubinin called “a major Chinese leader,” joined him.
Both Cai and Dubinin were part of Forsage’s first group of members in the year 2020. Cai claimed to have 200,000 investors in his “leopard Alliance” of Forsage business associates.
That’s right, MetaForce is the sixth iteration of the Forsage franchise.
Cai states that he emigrated to Canada from China.
To further her career, Cai uses her family’s history. Cai herds Chinese citizens overseas into Ponzi schemes while enjoying the good life in the West.
To “convey the vision of MetaForce… (and) address the issues of the community,” as Dubinin puts it, the MetaForce “arranged this unique call.”
Most of the concerns raised concern issues with making withdrawals, payments, and the Ponzi scheme’s survival.
If there are any issues with the release of MetaForce, Lado will resolve them. In this regard, MetaForce’s intended NFT scam has been delayed, and commission payments have not been made.
A lot of the issues have to do with how SFC, “energy,” and an unidentified, yet-to-be-released token are being implemented internally within MetaForce.
Okhotnikov aims to begin a MetaForce metaverse marketing grift after the NFT grift has been made public.
To help spread the word about MetaForce, Lado plans to travel to China shortly.
It’s crucial, and I feel compelled to take action.
Before joining Forsage, I worked independently for several network firms, and I preferred to do my best work away from the internet since it was more efficient.
I’m eager to visit China since I hope to collaborate with the country shortly.
During the webinar, Cai encourages Okhotnikov to maintain regular contact with MetaForce’s financial backers.
More frequent appearances are required if you want to keep the market interested. They wander off because there are simply too many mysteries to unravel. Moreover, they were consistently misled by erroneous data.
It’s unclear if Cai is referring to the SEC enforcement action.
After being sued by the SEC, it would appear that Dubinin, Cai, and Okhotnikov are shifting their recruiting efforts to nations where English is not the primary language.
In the United States, no Forsage leaders were represented during the webinar. Additionally, neither the US nor the SEC’s legal action was addressed.
Okhotnikov and Forsage executives like Dubinin and Cai appear determined, at least for the time being, to act as if the SEC’s complaint doesn’t exist.
The worldwide distribution of news about the SEC’s Forsage litigation was facilitated by the proliferation of international mainstream media. It’s not clear if that includes the Chinese media.
According to data compiled by SimilarWeb, Russia is now the most popular country from which users visit the MetaForce website. The Russian Central Bank issued a fraud alert about the MetaForce pyramid scam yesterday.
Okhotnikov was born in Russia but now makes his home in Tbilisi, Georgia. Georgian authorities have not demonstrated any inclination to address the issue of MLM-related securities fraud.
It remains to be seen if Okhotnikov and other Russian MetaForce supporters face any additional punishment from Russian authorities.