#Forsage Philippines

The Securities and Exchange Commission Philippines (SEC) has ordered a cease and desist order on Forsage and Forsage Philippines, stopping the platforms to solicit investments from the public into its crowdfunding platform involved in the Ethereum blockchain technology. Based on the cease and desist issued order by the commission last September 17, Forsage should stop selling investment agreements and cease its internet presence until the requisite permits are duly issued. Furthermore, Forsage should refrain from doing any business transactions involving "funds in its depository banks, and from transferring, disposing, or conveying in any manner all related assets to ensure the preservation of the assets of the investors". The order covers Forsage and its operators, representatives, salesmen, and agents, including Rich Alex Apuntar, Vhellpoe Forlares Garves, Yuka Kuroyanagi, Christopher Doroliat, Iam Kim, Jairra Fab Teoxon, Mark Nicole Escabarte Valerio, Myra Cris Sapar, Romnick Melañez, and Vel Cabalza. Under the Forsage system, there are two commission programs or cycle tiers, namely Forsage X3 and Forsage X4, that promise payouts to investors. Moreover, the Forsage X3 and X4 programs have 12 income slots each that an investor may initiate, with each slot having continuous referral incomes, indicating limitless income potential for investors.  According to the said platform, income through “spillovers” overflows to the downline coming from its upline's referrals. Read more in our articles including "SEC orders cease and desist on Forsage and Forsage Philippines" and "What is the Samsung Galaxy Z Fold Wide?".