In re Forsage and Forsage Philippines

September 17, 2020SEC CDO CASE NO. 09-20-068IN THE MATTER OF: FORSAGE and FORSAGE PHILIPPINESENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT (EIPD), movant.CEASE AND DESIST ORDERThis resolves the Motion for Issuance of Cease and Desist Order (the "Motion") filed on 10 September 2020 by the Enforcement and Investor Protection Department ("EIPD") praying: (1) to enjoin FORSAGE and FORSAGE PHILIPPINES (collectively as "Forsage"), its operators, directors, officers, representatives, salesmen, agents, and any and all persons, conduit entities and subsidiaries (collectively referred to as "Agents'') claiming or acting for and in its behalf from selling and/or offering securities in the form of investment contracts and to cease its internet presence until the requisite permits are duly issued; and (2) to prohibit Forsage, its officers, representatives, salesmen, and agents from transacting any and all business involving the funds in its depository banks, and from transferring, disposing, or conveying in any manner, any and all assets, properties, real or personal, including bank deposits, if any, of which the named persons herein may have interest, claim or participation, whether directly or indirectly, under...