SEC cracks Forsage crypto pyramid scam

By Ed Paolo Salting

Aug 04, 2022 12:29 am

THE United States Securities and Exchange Commission (US SEC), in cooperation with its Philippine counterpart, has charged the founders and promoters of the fraudulent pyramid scheme operated by Forsage.

In a statement, the US SEC said it charged 11 individuals for their roles in creating and promoting Forsage, which allegedly raised more than $300 million from retail investors worldwide, including the Philippines.

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