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The SEC resolved a securities fraud complaint brought against top US Forsage marketer Mark F. Hamlin.

According to the SEC, Hamlin took “at least $565,828” from Forsage.

The SEC submitted a Motion for Entry of Partial Judgment by Consent on August 10th, relating to a settlement negotiated with Hamlin.

As stated by the SEC in its filing;

This ruling eliminates the need for Hamlin to fight substantive culpability, and it permanently prohibits him from breaking the federal securities laws at issue in the complaint, as well as from engaging in certain other activities.

The proposed ruling further states that the monetary remedies requested by the SEC – disgorgement, prejudgment interest, and a civil penalty – will be determined by the Court on the SEC’s motion at a later date.

We intend to seek such monetary compensation when the remaining Defendants’ claims are addressed.

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

Hamlin is the third Forsage defendant to reach an agreement. He follows in the footsteps of Samuel Ellis and Sarah Theissen, who reached settlements earlier this month.

The court had yet to accept Hamlin’s Forsage settlement at the time of publishing.

Mark Hamlin has a history of promoting MLM schemes. He has previously been linked to BitLocity, Qtrex, and WeShare Crowdfunding, according to BehindMLM.

Update: On August 25th, 2022, the court authorized Hamlin’s settlement.

Defendant is further ordered, adjudicated, and decreed to pay disgorgement of ill-gotten earnings, prejudgment interest, and a civil penalty.

On the Commission’s motion, the Court shall decide the amounts of the disgorgement and civil penalty.

Before asking the court to impose financial penalties, the SEC appears to be collecting judgment.

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