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Ronald R. Deering has paid a settlement to end claims that he cheated Forsage.

In August, the SEC sued Deering, the last of seven people who promoted the Forsage Ponzi scheme.

The SEC says that Deering (right), who lives in Idaho and is a US citizen, stole at least $267,075 through Forsage.

As part of the settlement agreement that was signed on December 13, Deering can’t break the Securities and Exchange Act again.

Defendant won’t be able to say that he didn’t break the federal securities laws like the Complaint says he did.

The injunction also says that Deering can’t take part in or promote pyramid schemes or any opportunity to invest in cryptocurrency.

Deering has been told to give back the money he got illegally from Forsage, pay interest on the money (backdated to June 2020), and pay a civil penalty.

Until the SEC makes a motion, the exact dollar amounts won’t be known. This is the same as what the judges said about the other six defendants.

The SEC has until October 13, 2023, to file a motion asking for “assessment of monetary relief.”

Okhotnikov ran Forsage and is still scamming people through its latest reboot, Meta Force. Okhotnikov lives in Georgia, and even though he has scammed people out of more than $300 million, he is still on the loose.

Lola Ferrari and Sergey Maslakov, who are also accused but don’t live in the US, have also been served. Since then, the SEC has asked for a default judgment against the two people.

Mikhail Sergeev is the only Forsage defendant who has not yet been served. He is thought to be in Russia.

According to a report that the SEC filed on December 9th,

Only the defendant, Mikhail Sergeev, has not been served.

The SEC is currently looking into possible ways to serve Sergeev, and they will let the Court know what they find at a later date.

Okhotnikov (on the right) has hired a lawyer and, on November 22, filed a Motion to Dismiss the SEC’s case. The SEC’s answer to Okhotnikov’s motion to oppose was sent on December 29.

The Motion to Dismiss is still being looked at.

If the court doesn’t agree with Okhotnikov’s Motion to Dismiss and he doesn’t settle, the SEC thinks the case could go on until 2024 or even 2025.

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