Investment scheme Forsage is illegal, says SEC
The Securities and Exchange Commission has issued a stern warning against Forsage, an investment scheme headed by a certain Lado Okhotnikov. Forsage is NOT duly registered with the SEC and lacks the necessary license to solicit, accept or take investments from the public or issue investment contracts and other forms of securities.
On June 30, 2020, the Commission said that Forsage is illegally engaging in investment activities in the guise of cryptocurrency trading.
SEC Cagayan de Oro Director Atty. Renato Egypto said that many from Region X have engaged with Forsage already.
“SEC Cagayan de Oro Extension Office has received numerous reports as well through email and direct messages inquiring about the legality of Forsage. This really concerns us and so we continuously remind...