A federal grand jury in Oregon indicted the founder of the so-called $340 million "worldwide Ponzi scheme" Forsage.

According to a statement from the U.S. Department of Justice (DoJ) on February 22nd, the four Russian founders-Friedrich Ohortnikov (Vladimir Okhotnikov), Olaine Oblamska (Olena Oblamska), Mikhail Svetlnev (Mikhail Sergeev) and Svitlana Sarerakov (Sergey Maslakov)-have been accused of playing important roles in the plan to raise about $340 million more from victim investors.

"Today's civil indictment is the result of months of rigorous research that cobbled together hundreds of millions of dollars in systematic theft," said Natalie, the Oregon regional federal prosecutor. She also added:

"the explicit prosecution of foreign individual actors using new technologies to carry out fraud in the nascent financial system is a complicated task and can only be made possible with the full and thorough co-ordination of various law enforcement agencies."

Forsage once touted itself as a low-and medium-risk decentralized financial services platform built on the Ethererum blockchain, allowing users to make money from the long-term Internet. However, it is reported that blockchain technical analysis shows that 80 per cent of Forsage "investors" receive as little as possible than they spend.

According to the US Department of Justice, the interpretation of smart contracts shows that when new investors choose the "location" in Forsage smart contracts, the fund-raising funds are transferred to older investors, which is consistent with the "Ponzi scheme".

Forsage still has a vibrant Twitter account, which posted a post on February 22nd claiming that group members participating in the messenger program can receive monthly rewards by doing some daily tasks.

On August 1st, the Foreign Securities and Exchange Commission (Securities And Exchange Commission) accused four founders and seven sponsors of defrauding and selling unregistered securities. Caroline Venohans, who is responsible for SEC encrypted assets and Internet unit agents, stated at the time:

"fraudsters cannot circumvent federal securities laws by focusing on smart contracts and blockchain technology."

The Securities and Exchange Commission of Thailand listed Forsage as a possible Ponzi scheme in 2020, but a month later, the site was still the second most popular DAPP on the ethernet block chain.

Although the charge means that the prosecutor explicitly brings criminal charges and accuses individuals and teams of crimes, if the prosecutor can persuade the majority of the grand jury to clearly declare the charges during the investigation, the civil indictment is filed through the grand jury.

Grand juries are common in federal and serious state crimes.