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Alleged Forsage Co-Founder Extradited From Thailand in $340 Million Ponzi Case

Alleged Forsage Co-Founder Extradited From Thailand in $340 Million Ponzi Case

U.S. prosecutors said Olena Oblamska was extradited from Thailand, pleaded not guilty to conspiracy to commit wire fraud, and faces charges tied to an alleged $340 million scheme spanning Ethereum, TRON, and BNB Chain.

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Fact Check
All key elements of the claim are confirmed by multiple independent, credible sources. The Block, ICIJ, RightNowOregon, and Crypto Briefing all consistently report: (1) Olena Oblamska is an alleged Forsage co-founder; (2) she was extradited from Thailand to the United States; (3) she pleaded not guilty to conspiracy to commit wire fraud; (4) the case involves a $340 million alleged Ponzi scheme; and (5) trial is scheduled for July 2026 (specifically July 14). The ICIJ and RightNowOregon articles both reference the U.S. Department of Justice announcement as the primary source. The only minor imprecision in the original claim is describing the trial as 'July 2026' without specifying the July 14 date, which is not an error. The claim accurately characterizes the case as a Ponzi scheme and correctly states the not guilty plea and extradition from Thailand.
Summary

Olena Oblamska, accused of co-founding Forsage, was extradited from Thailand to the United States and pleaded not guilty to conspiracy to commit wire fraud in a federal case tied to an alleged $340 million crypto Ponzi and pyramid scheme. U.S. prosecutors said Forsage operated across Ethereum, TRON, and BNB Chain and defrauded victims of about $340 million. The update also notes that the U.S. Securities and Exchange Commission previously filed civil charges against Forsage in August 2022. Trial is scheduled to begin in July 2026.

Terms & Concepts
  • Ponzi scheme: A fraudulent investment structure that generally uses funds from newer participants to pay earlier participants rather than generating legitimate returns.
  • Ethereum: A blockchain network used for digital assets and smart contracts, where decentralized applications and crypto-based schemes can be deployed.
  • BNB Chain: A blockchain network in the BNB ecosystem that supports token activity and smart contract applications.