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The SEC’s action against prominent US Forsage marketer Mark F. Hamlin for securities fraud has been resolved.

If the SEC’s allegations are true, Hamlin took “at least $565,828” from Forsage.

The SEC and Hamlin negotiated a settlement on August 10, and on that day the SEC filed a Motion for Entry of Partial Judgment by Consent.

To reiterate what was said in the filing with the SEC;

This decision permanently enjoins Hamlin from breaking the federal securities laws at issue in the complaint and from engaging in certain additional activities and thus eliminates the need to fight Hamlin’s substantive responsibility.

The proposed judgment further stipulates that the Court will rule on the SEC’s application to determine the amount of disgorgement, prejudgment interest, and any civil penalty.

After we finish settling our claims against the other Defendants, we plan to pursue such monetary relief.

Vladimir Okhotnikov, Jane Doe a/k/a Lola Ferrari, Mikhail Sergeev, Sergey Maslakov, Carlos L. Martinez, Ronald R. Deering, Cheri Beth Bowen, and Alisha R. Shepperd are the remaining Defendants in this case.

The third Forsage defendant to settle is Hamlin. He follows in the footsteps of this month’s other settlement filers, Samuel Ellis and Sarah Theissen.

Hamlin and Forsage have not finalized their settlement as of this writing.

Mark Hamlin often promotes multi-level marketing schemes. BitLocity, Qtrex, and WeShare Crowdfunding have all been linked to him in the past by BehindMLM.

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