The Charming Face of a Global Crypto Fraud
Meet Vladimir Okhotnikov, the 47-year-old Russian entrepreneur better known as Lado, who has managed to weave an intricate web of celebrity connections while allegedly orchestrating one of the largest cryptocurrency scams spanning four continents. This sophisticated operator stands accused of siphoning approximately $1 billion from millions of unsuspecting investors worldwide through elaborate Ponzi schemes disguised as legitimate crypto investment platforms.
From Hollywood Dreams to Global Schemes
Okhotnikov's public persona paints a picture of a successful international entrepreneur. He's the creative force behind Holiguards Saga — The Portal of Force, a supernatural thriller film featuring Oscar-winner Kevin Spacey and Bollywood star Disha Patani, scheduled to premiere in Lisbon on December 20. The $10 million venture, mostly shot in Mexico, appears to be his bold entry into Hollywood and what investigators suspect is another elaborate stunt to attract investors.
Social media posts from a November cast party in Dubai show Mumbai-based Patani appearing on stage beside Okhotnikov. When questioned about her awareness of Okhotnikov's background, Patani's managers declined to comment, stating only: "We cannot talk about this project as of now."
Perhaps most strikingly, Okhotnikov persuaded Elon Musk's mother, Maye Musk, to pose for the cover of his new magazine Holiguard, launched during her birthday party in Mumbai earlier this year. The party was organized by Elvira Gavrilova (now Paterson), owner of Elledgy, a media and marketing company that has promoted Okhotnikov's brands worldwide and co-produced his film.
The Elaborate Crypto Ponzi Network
US prosecutors have charged Okhotnikov with running Forsage, an international Ponzi and pyramid scheme that used a rigged cryptocurrency investment platform to steal at least $340 million from investors between 2020 and 2022. The SEC described Forsage as "illegal" and a "textbook pyramid and ponzi scheme" that managed $300 million in transactions with "no bona fide sales."
When these charges surfaced, Okhotnikov fled to Dubai, where he repeatedly rebooted the alleged scheme under different names while expanding into startups ranging from gaming to anti-aging supplements based on unproven DNA science. His latest platform, Meta Whale, has already attracted 40,000 users monthly since launching in May according to its website.
The examination of Okhotnikov's business dealings forms part of The Coin Laundry, an investigation by the International Consortium of Investigative Journalists (ICIJ) in collaboration with The Indian Express, exposing how the crypto industry has profited from illicit financial flows.
India as Prime Target and Mounting Legal Troubles
India has become one of Okhotnikov's major targets, particularly investors in Karnataka, Andhra Pradesh, and Telangana. At a summit in Bengaluru last year, he appeared via video claiming his investment platform had been "rebranded" from Meta Force to Holiverse and that he had secured "all legitimate licenses" for operations in India.
Okhotnikov's legal troubles are mounting across multiple jurisdictions:
- US Department of Justice indicted him in 2023 for conspiracy to commit fraud, carrying potential 20-year prison sentence
- Georgian court convicted him in absentia of money laundering and sentenced him to 10 years imprisonment
- International arrest warrant issued with Georgian government seizing his assets valued over $1 million
- Slovenian financial watchdog issued public warning that all Okhotnikov's platforms were same entity
Despite the mounting legal peril, Okhotnikov continues to operate from Dubai, with his film project and new platforms attracting continued investor interest. The case highlights the challenges global authorities face in regulating the rapidly evolving cryptocurrency landscape and protecting investors from sophisticated international fraud schemes.
