Vladimir Okhotnikov
Identified by U.S. prosecutors as the operational leader of Forsage, a 'DeFi' platform they call a ~$340M Ponzi and pyramid scheme. He was indicted in the U.S. in 2023 (charges pending) and, per reporting, was convicted in absentia in Georgia in 2024.
Also known as: Lado, Vladimir Okhotnikov
Note: Vladimir Okhotnikov is charged in the U.S. but has not been tried there; the U.S. allegations are unproven.
Bio
Vladimir Okhotnikov (a/k/a "Lado") is described by U.S. prosecutors as the operational leader of Forsage, a self-described decentralized "smart contract" investment platform launched in 2019 on Ethereum, BNB Smart Chain, and Tron. The DOJ and SEC allege Forsage was actually a Ponzi and pyramid scheme that took in roughly $340 million from investors worldwide. [1][2]
Status
On February 22, 2023, a U.S. grand jury indicted Okhotnikov and three co-defendants on one count of conspiracy to commit wire fraud; the case remains pending and Okhotnikov is reported to have fled to Dubai. Reporting (ICIJ) indicates a court in Tbilisi, Georgia sentenced him in absentia in 2024 to 10 years for laundering Forsage proceeds. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Sources (2)
See also
Luke BelmarIndividualsCryptocurrency influencer Luke Belmar (@lukebelmar on X) became the subject of controversy following allegations related to the promotion of a memecoin. Critics on social media alleged that Belmar used a series of posts referencing a forthcoming cryptocurrency project and a large-scale airdrop to generate interest in a token without explicitly identifying a specific contract address. Belmar published multiple posts discussing an upcoming memecoin, describing plans for what he characterized as a major airdrop and making comparisons to other cryptocurrency projects. Because no contract address was publicly provided, several tokens emerged claiming association with his statements. Critics alleged that this ambiguity enabled speculation around multiple tokens while avoiding a direct endorsement of any particular asset.
World Liberty Financial (WLFI) — Justin Sun token freezeProjectsWLFI, a DeFi project linked to Donald Trump and his family, blacklisted/froze the wallet of major investor Justin Sun in Sept 2025 — ~540–595M unlocked WLFI tokens (~$107M) plus ~2.4B locked. Sun sued, alleging an undisclosed admin 'blacklist backdoor'; WLFI denied it and threatened a countersuit. The dispute is ongoing.
This page was last updated on Jun 15, 2026. View revision history.
