Forsage promoter defendants Carlos Martinez and Alisha Shepperd have settled with the SEC.

Both Martinez’s and Shepperd’s settlements are partial.

This is ultimately a moot point, as both Martinez’s and Shepperd’s (right) settlements

  • prohibit further acts of securities fraud;
  • prohibit participation in pyramid schemes;
  • prohibit participation in “crypto asset securities” schemes (basically any passive investment crypto opp);
  • prohibit them from claiming they didn’t violate federal securities laws; and
  • contain to be determined disgorgement and civil penalty clauses (including prejudgment interest backdated to June 2020)

Martinez signed consent for judgement on November 17th. Shepperd signed hers on November 21st.

Judgment was ordered against Martinez on November 22nd. Judgment against Shepperd (right) remains pending.

As of October 31st, Shepperd was still promoting crypto pump and dump scams on social media:

As per a Second Joint Status Report filed on November 22nd, the SEC notes the Entry of Default previously granted against Forsage founder Lado Okhotnikov has been vacated.

Okhotnikov’s US based attorney entered an appearance on November 21st. Okhotnikov has until November 23rd to file an answer to the SEC’s Complaint.

The SEC alleges Forsage was a $300 million Ponzi scheme.

Defendant Mikhail Sergeev, a Russian national believed to be in Russia, has yet to be served.

Of the seven Forsage Ponzi promoters the SEC sued back in August, only Ronald R. Deering has yet to settle.

Deering filed a motion requesting a third extension of time to answer the SEC’s complaint on November 16th. The court granted Deering’s request on November 17th.

The next Forsage hearing is scheduled for December 8th, 2022.

 

Update 9th December 2022 – Judgment was ordered against Alisha Shepperd on December 8th.