Forsage crypto executives charged with running $300 million Ponzi scheme
CBSMAY 2022
The SEC has recently ramped up crypto enforcement and this is just the latest in a string of alleged crypto Ponzi schemes. With the current crypto market instability that's seen digital assets significantly drop from their peak, this is another blow to the community that's attempting to ride the current storm.
While bringing charges is a step in the right direction to holding these fraudsters accountable, it's likely too little too late. International operations make it difficult for the SEC to pursue justice, and with the founders outside of the US, it will be near impossible to arrest them. This serves as a reminder that effective regulation of digital assets must be enforced to a greater extent.