Kevin Spacey Film Star & Writer Indicted for Cryptocurrency Fraud Scheme

2 min read

Kevin Spacey Film Written By and Stars Man Indicted For Crypto Scheme

Controversy Surrounds Kevin Spacey’s Directorial Comeback

Kevin Spacey’s initial directorial project in over two decades features a lead actor who is currently sought by U.S. law enforcement for alleged involvement in a cryptocurrency Ponzi scheme. Titled “The Portal of Force,” the film was first reported by Variety in May and signifies Spacey’s attempt to return to Hollywood following a series of sexual misconduct allegations. This supernatural action-thriller was filmed last year in Mexico and features an ensemble cast that includes Dolph Lundgren, Tyrese Gibson, and Eric Roberts. It is expected to be the first installment in a trilogy known as the “Holiguards Saga.”

Film’s Writer and Star Indicted for Fraud

“The Portal of Force” prominently features Vladimir “Lado” Okhotnikov, a Russian national who was indicted in 2023 for conspiracy related to wire fraud. Okhotnikov, who contests the accusations, contributed to the screenplay based on his concepts and also appears in the film. He is credited as a producer through his company, Lado Film. His IMDb profile indicates that this project marks his debut as a screenwriter, having co-written it with Sergey Torchilin. Okhotnikov was among the founding members of Forsage, a cryptocurrency investment platform that the U.S. Department of Justice claimed operated as a “Ponzi and pyramid investment scheme,” reportedly defrauding investors of approximately $340 million globally. The DOJ warned that, if found guilty, Okhotnikov and his co-defendants could face up to 20 years in prison.

Legal Challenges and Disputes

Prior to the indictment, the SEC had initiated a civil case against Okhotnikov and his colleagues at Forsage in 2022. In response, Okhotnikov attempted to have this case dismissed, asserting that Forsage did not maintain offices or bank accounts in the U.S. and was not registered under any U.S. laws. In an August 2022 YouTube video, he refuted the SEC’s allegations, insisting that there were “no victims” associated with Forsage and that participants did not experience any financial pyramiding. Despite his appearances in promotional content alongside U.S. citizens endorsing Forsage, Okhotnikov maintained that he had not engaged with U.S. jurisdiction, declaring Forsage to be legitimate as “real scams can never win people’s hearts.”

Current Status of Legal Proceedings

The SEC’s case remains on hold while the criminal proceedings are ongoing, but no court date has been established. Okhotnikov has stayed outside U.S. jurisdiction and has not yet been apprehended. In a communication with Variety, he reiterated that the allegations against him are baseless and claimed that no evidence has been presented nor any court rulings made. He expressed concerns that the mere publication of indictments by the SEC and DOJ was portrayed in a way that suggested his guilt had already been determined. Okhotnikov lamented that the extensive coverage of the indictment has caused him harm beyond just reputational damage.

A Glimpse into the Film’s Premise

With a production budget of roughly $10 million, “The Portal of Force” unfolds in a near-future setting disrupted by concealed supernatural elements, where two ancient warrior factions engage in a covert battle for humanity’s destiny. The founder of Behind MLM, a website focused on financial fraud, noted that the film’s narrative bears significant thematic resemblance to short films Okhotnikov uploaded to the Forsage YouTube channel, which have since been removed. Ellegdy Media Group, the primary producer and financier of “The Portal of Force,” clarified to Variety that Okhotnikov did not invest in the film; his producer credit was granted for permitting the use of his studio and post-production facilities in Dubai, where he currently resides.

Upcoming Presentations and Spacey’s Return to Directing

A trailer for “The Portal of Force” was showcased privately at Cannes and is set to be presented at a special gala dinner in Venice, which Spacey is expected to attend. This film represents Spacey’s first directing role since 2004’s “Beyond the Sea,” where he co-starred with Kate Bosworth, John Goodman, and Bob Hoskins. The project marks a significant step in Spacey’s effort to rebuild his career following his acquittal of multiple sexual misconduct allegations in a high-profile trial earlier this year.