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Both Samuel D. Ellis and Sarah Theissen, accused of forage fraud, have paid off their victims.

An SEC lawsuit claimed Forsage was a $300 million Ponzi scam.

The SEC filed a lawsuit against Ellis (below) and Theissen (below right) on behalf of eleven other alleged Forsage fraudsters earlier this month. The first defendants to settle.

Ellis and Theissen were both members of “Crypto Crusaders,” the largest group of Forsage promoters in the United States.

Ellis sponsored Forsage’s YouTube channel. Theissen also served as the company’s administrator.

On August 8th, both Ellis and Theissen’s Forsage settlements were submitted.

The SEC claims that Ellis, through Forsage, took $72,405. As part of the terms of his settlement, Ellis agreed to pay back a total of $68.770, comprised of $36,621 in disgorgement, $1021 in prejudgment interest, and $31,128 in a civil penalty.

Theissen has allegedly taken at least $130,118. A decision on disgorgement and civil penalty for Theissen will be made at a later time.

Ellis and Theissen are both prohibited from engaging in securities fraud in the future.

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