Hogg Stew - Yummy
https://www.cnbc.com/2022/08/01/sec-charges-11-people-in-alleged-300-million-crypto-ponzi-scheme.html
On Monday, the Securities and Exchange Commission said it charged 11 people for their roles in creating and promoting an allegedly fraudulent crypto pyramid and Ponzi scheme that raised more than $300 million from millions of retail investors worldwide, including in the United States.
The scheme, called Forsage, claimed to be a decentralized smart contract platform, and it allowed millions of retail investors to enter into transactions via smart contracts that operated on the ethereum, tron, and binance blockchains. But under the hood, the SEC alleges that for more than two years, the setup functioned like a standard pyramid scheme, in which investors earned profits by recruiting others into the operation.
In a statement, the SEC added that Forsage operated a typical Ponzi structure, wherein it allegedly used assets from new investors to pay earlier ones.
“As the complaint alleges, Forsage is a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors,” wrote Carolyn Welshhans, acting chief of the SEC’s Crypto Assets and Cyber Unit.
“Fraudsters cannot circumvent the federal securities laws by focusing their schemes on smart contracts and blockchains.”
Forsage, through its support platform, declined to offer a method for contacting the company and did not offer comment.
Four of the eleven individuals charged by the SEC are founders of Forsage. Their current whereabouts are unknown, but they were last known to be living in Russia, the Republic of Georgia, and Indonesia.
The SEC has also charged three U.S.-based promoters who endorsed Forsage on their social media platforms. They were not named in the SEC release.
Forsage was in launched in Jan. 2020, and regulators around the world had tried a couple different times to shut it down since then. Cease-and-desist actions were brought against Forsage first in Sept. of 2020 by the Securities and Exchange Commission of the Philippines, and later, in Mar. 2021, by the Montana Commissioner of Securities and Insurance. Despite this, the defendants allegedly continued to promote the scheme while denying the claims in several YouTube videos and by other means.
Two of the defendants, both of whom did not admit or deny the allegations, agreed to settle the charges, subject to court approval.
#SaveTheFaggots
https://www.fox5ny.com/news/nyc-declares-monkeypox-state-of-emergency
NEW YORK - New York City Mayor Eric Adams has declared a state of emergency due to the monkeypox outbreak. The city estimates that 150,000 people, mostly men who have sex with other men, are at risk.
The city has more than 1,200 reported cases of monkeypox, about 25 percent of all cases in the United States.
"We are continuing to see the numbers rise," Mayor Adams said in a statement. "This order will bolster our existing efforts to educate, vaccinate, test, and treat as many New Yorkers as possible and ensure a whole-of-government response to this outbreak."
The governor had already issued a state of emergency for the entire state.
The city's Department of Health and Mental Hygiene had declared the outbreak a public health emergency on Saturday.
Monday's emergency executive order allows the mayor to suspend local laws, and enact new health rules.
The city is facing a drastic shortage of monkeypox vaccines with appointments filling up just minutes after they're released. The city expects to get around 80,000 monkeypox vaccine doses in the coming days.
Don't play on social media any more - no intelligence there and quickly evaporating here…