United States of America v. Olena Oblamska

Portland, Oregon, criminal defense lawyer represents the Defendant charged with engaging in a Ponzi scheme.

Reported By Kent Morlan

Olena Oblamska, 42, Ukrainian national and her co-conspirators advertised Forsage as a decentralized matrix project based on network marketing and “smart contracts,” which are self-executing contracts on the blockchain. The defendants falsely promoted Forsage to the public as a legitimate, low-risk, and lucrative investment opportunity through Forsage’s website and various social-media platforms, but, in reality, the defendants operated Forsage as a Ponzi and pyramid investment scheme that took in approximately $340 million from victim-investors around the world.

Consistent with a Ponzi scheme, as soon as an investor invested in Forsage by purchasing a “slot” in a Forsage smart contract, the smart contract automatically diverted the investor’s funds to other Forsage investors, such that earlier investors were paid with funds from later investors.

Oblamska made her initial appearance in federal court yesterday before a U.S. magistrate judge. She was arraigned, pleaded not guilty, and ordered detained pending a 4-day jury trial scheduled to begin on July 14, 2026.

If convicted, Oblamska faces a maximum sentence of 20 years in federal prison, 3 years of supervised release, and a fine of $250,000.

U.S. Attorney Scott E. Bradford for the District of Oregon made the announcement.

The FBI Portland Field Office, U.S. Secret Service, HSI New York, and HSI Bangkok are investigating the case. Trial Attorneys Sara Hallmark and Tian Huang of the Criminal Division’s Fraud Section and Assistant U.S. Attorneys Katherine A. Rykken and Meredith Bateman are prosecuting the case.

The Justice Department’s Office of International Affairs provided significant assistance in securing the defendant’s arrest and extradition from Thailand. The Justice Department thanks its Thailand law enforcement partners, including the Royal Thai Police and the Office of the Attorney General of Thailand.

All investor victims of the Forsage scheme are encouraged to visit the webpage https://www.justice.gov/criminal-vns/case/united-states-v-vladimir-okhotnikov-et-al to identify themselves as potential victims and obtain more information on their rights as victims, including the ability to submit a victim impact statement.

An indictment is only an accusation of a crime, and a defendant is presumed innocent unless and until proven guilty.