Kevin Spacey Unveils Sci-Fi Film at Venice Festival, Linked to Crypto Ponzi Scheme Founder

Spacey’s latest sci-fi project, featuring multiple Hollywood stars, was co-written by Vladimir Okhotnikov, indicted in the U.S. for a $340 million DeFi Ponzi scheme via Forsage.

Summary

Kevin Spacey debuted 'Holiguards Saga — The Portal of Force' at the Venice Film Festival, co-written and starring Vladimir Okhotnikov, also known as Lado, who faces U.S. DOJ indictment over a $340 million global crypto Ponzi scheme tied to the DeFi platform Forsage. Okhotnikov, along with four other Russian nationals, was charged with wire fraud in 2023, carrying potential 20-year prison sentences. In 2022, the SEC also charged him and others for running a digital asset fraud in which investor profits came from recruiting others. Okhotnikov denies wrongdoing and claims misleading headlines have caused him harm. The film also stars Tyrese Gibson, Dolph Lundgren, and Eric Roberts.

Terms & Concepts
  • DeFi Ponzi Scheme: A decentralized finance Ponzi scheme involves using blockchain-based smart contracts to defraud investors, promising high returns while paying earlier investors with funds from new participants.
  • Forsage: A decentralized finance app that was charged by the SEC and DOJ for operating a Ponzi scheme that defrauded over $300 million from investors.