In this episode of Fraud Files, host Adrienna Hines moderates a conversation with Montana Commissioner of Securities and Insurance James Brown and former DEA Resident Agent in Charge for the State of Montana Stacy Zinn as they examine one of the world's largest cryptocurrency pyramid schemes.

Forsage marketed itself as a revolutionary decentralized finance platform that promised passive income and financial freedom. Instead, investigators say it operated as a global pyramid and Ponzi scheme that collected more than $300 million from investors by rewarding recruitment rather than legitimate investment.

Commissioner Brown explains why Montana was among the first states in the nation to identify Forsage as an illegal securities offering and issue enforcement action, while Stacy Zinn provides insight into how complex financial crimes are investigated and why fraudsters increasingly rely on technology to create an illusion of legitimacy.

Whether you're curious about cryptocurrency, interested in financial crime investigations, or simply want to better protect yourself and your family, this episode offers practical lessons on recognizing fraud before it's too late.

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