PORTLAND, Ore. — A Ukrainian woman accused of helping operate a global cryptocurrency-based Ponzi and pyramid scheme has been extradited from Thailand to the United States to face federal charges in Oregon, prosecutors announced.
Olena Oblamska, 42, was extradited last Friday and appeared in federal court Monday on a charge of conspiracy to commit wire fraud.
According to court documents, Oblamska and her co-conspirators allegedly promoted a platform known as Forsage as a decentralized investment opportunity built on blockchain “smart contracts” and network marketing. Prosecutors say the organization marketed Forsage through its website and social media channels as a legitimate, low-risk investment platform with high earning potential.
Federal investigators allege the operation was instead a massive Ponzi and pyramid scheme that collected approximately $340 million from investors worldwide.
Authorities said investors purchased “slots” in Forsage smart contracts, but rather than generating legitimate investment returns, the system automatically routed funds from newer investors to earlier participants — a hallmark of a Ponzi scheme.
Oblamska made her initial appearance before a U.S. magistrate judge Monday, where she was arraigned and entered a plea of not guilty. The court ordered her detained pending trial.
A four-day jury trial is scheduled to begin July 14, 2026.
If convicted, Oblamska faces up to 20 years in federal prison, three years of supervised release, and a fine of up to $250,000.
U.S. Attorney Scott E. Bradford announced the case.
The investigation is being conducted by the Federal Bureau of Investigation, United States Secret Service, Homeland Security Investigations, and other federal agencies. Prosecutors handling the case include Trial Attorneys Sara Hallmark and Tian Huang of the Department of Justice Criminal Division’s Fraud Section, along with Assistant U.S. Attorneys Katherine A. Rykken and Meredith Bateman.
Federal officials are encouraging anyone who invested in Forsage to visit the U.S. Department of Justice victim information page to learn about victim rights and submit victim impact statements.
An indictment is an allegation only, and all defendants are presumed innocent unless proven guilty in court.
About the Author
Discover more from Right Now Oregon
Subscribe to get the latest posts sent to your email.
