Page 2 of 5 FirstFirst 1234 ... LastLast
Results 26 to 50 of 118
Like Tree75Likes

Thread: TelexFree is scam or not ?

  1. #26
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The only thing necessary for the triumph of evil is for good men to do nothing

  2. #27
    Whip's Avatar
    Whip is offline Anonymous. As are you all
    Join Date
    Jun 2010
    Posts
    5,935

    Re: TelexFree is scam or not ?

    Quote Originally Posted by littleroundman View Post



    lmao. People are asking for facts about what happened to their money, not 'opinions' on what you did with it.

  3. #28
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The Boston Globe is now reporting:



    Read the complete story on The Boston Globe website HERE
    The only thing necessary for the triumph of evil is for good men to do nothing

  4. #29
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The only thing necessary for the triumph of evil is for good men to do nothing

  5. #30
    Whip's Avatar
    Whip is offline Anonymous. As are you all
    Join Date
    Jun 2010
    Posts
    5,935

    Re: TelexFree is scam or not ?

    can't believe he's not taking credit for shutting it down. lmao.
    I guess fhtm really wasn't that bad according to this letter.

  6. #31
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    Last edited by EagleOne; 04-22-2014 at 01:14 AM.
    The only thing necessary for the triumph of evil is for good men to do nothing

  7. #32
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    19. Randy N. Crosby, age 51, lives in Alpharetta, Georgia. He is one of the most successful promoters of TelexFree and has appeared in TelexFree promotional videos that have been posted on the internet. He has also promoted TelexFree through a website called "everybodygetspaidweekly.biz"





    everybodygetspaidweekly.biz
    The only thing necessary for the triumph of evil is for good men to do nothing

  8. #33
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The Montana Commissioner of Securities and Insurance has issued a temporary Cease and Desist order against Telexfree.



    Montana Commissioner of Securities and Insurance press release

    View the Temporary Cease and Desist order in .PDF format HERE
    The only thing necessary for the triumph of evil is for good men to do nothing

  9. #34
    Char's Avatar
    Char is offline Senior Scambuster
    Join Date
    Sep 2012
    Location
    Reality
    Posts
    632

    Re: TelexFree is scam or not ?

    I've been following the coverage over on behindmlm. I've seen a few posts complimenting Oz on his reporting because of the latest developments.

    Here's what I wish I could ask all those people:

    Behindmlm's first article on this ponzi posted July 2012. What did they think of him then? Did they think he was just a scam site bashing supposed genuine business opportunities and trying to stop people from making money? How many readers read the review and joined anyway, lost money, and are now posting comments and asking for help to get their money back?

  10. #35
    ribshaw's Avatar
    ribshaw is online now Nigerian Ministry
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    5,115

    Re: TelexFree is scam or not ?

    Quote Originally Posted by Char View Post
    I've been following the coverage over on behindmlm. I've seen a few posts complimenting Oz on his reporting because of the latest developments.

    Here's what I wish I could ask all those people:

    Behindmlm's first article on this ponzi posted July 2012. What did they think of him then? Did they think he was just a scam site bashing supposed genuine business opportunities and trying to stop people from making money? How many readers read the review and joined anyway, lost money, and are now posting comments and asking for help to get their money back?
    That reminded me of a quote from Cosmic Connie the other day, who has an awesome blog of her own.

    "I write all of this knowing full well that in the end, no matter how much I jab at Joe, make sport of Mocktor Loony, or kick at Katie, the lure of those sweet little lies will continue to win more hearts and wallets than a snarky little hobby blog ever could. But if you think that knowing this is going to stop me, you have seriously misunderestimated me."

    Whirled Musings
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  11. #36
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    Oz over on BEHIND MLM is reporting De La Rosa & Crosby preliminary injunction granted

    A sign of what’s to come on May 2nd?

    Following a hearing on April 25th and despite responses being filed in protest by both Randy Crosby and Santiago De La Rosa, on the 30th of April the Massachusetts District Court granted a preliminary injunction against the two.

    The only thing necessary for the triumph of evil is for good men to do nothing

  12. #37
    M_Norway is offline Junior Member
    Join Date
    Sep 2012
    Posts
    14

    Re: TelexFree is scam or not ?

    I have some poorly organized information about potential organizers for TelexFree.

    BWFC PROCESSING CENTER, LLC (reg: 2012-08-29) was the Commercial Registered Agent that registered TelexFree LLC in Nevada, 2012-07-19 (July 2012). It's also the agent for:
    TELEX MOBILE HOLDINGS, INC 2013-11-26 (late November 2013)
    TELEXELECTRIC LLLP 2013-12-02 (early December 2013)

    BWFC PROCESSING CENTER, LLC is owned by ADAMS, CRAFT & EWING LLLP reg. date 2010-03-03, a partnership owned by
    * Paul T. Adams (P. Thomas Adams)
    * Joe H. Craft (TelexFree's CFO and "partner")
    * John D. Ewing (Bridgeway assets protection)

    PROBLEM #1 = too much data:
    BWFC PROCESSING CENTER, LLC is registered agent for 1,276 Nevada entities, too much to check. The group of people is also operating as agents in other jurisdictions.

    PROBLEM #2 = little is known:
    Little is known about Paul T. Adams, the name is too generic to give reliable results when searching the internet. He's the resigned agent for several revoked / permanently revoked / dissolved / default companies in Nevada, around 2005-2007.

    Little is known about John D. Ewing, other than his "public profile" as manager for BRIDGEWAY FINANCIAL CORPORATION reg. 2005-02-14.

    Joe H. Craft was TelexFree's CFO until he resigned after the TRO in Massachusetts, when he was caught with $38 million in Cashier's Checks when TelexFree's office in Massachusetts was raided by Homeland Security April 16 2014.

    PROBLEM #3:
    I have poorly organized lists of:
    A: Nevada companies where BWFC PROCESSING CENTER, LLC is the registered agent.
    B: Nevada companies where Paul T. Adams was registered agent / had a position.

    The lists are simply copied from Nevada Entity search, Nevada Agent search and similar search methods. It's a method used when you don't know exactly what you're looking for, when you try to identify what to look for and how to find it.

    THE LOGIC GOES LIKE THIS:
    1. I was initially trying to identify Joe Craft's role in TelexFree.
    2. BWFC PROCESSING CENTER, LLC popped up as one of the companies.
    3. ADAMS, CRAFT & EWING LLLP popped up
    4. BRIDGEWAY FINANCIAL CORPORATION and John D. Ewing popped up
    5. Paul T. Adams popped up
    6. Then it was time to stop, before derailing further from what I initially was looking for.

    I found a group of 3 organizers rather than 1.
    I found assets protection strategies, e.g. a chains of companies to hide the real owners.
    I found indicators of multiple scams, e.g. immigration investor scams (EB5 scams).

    This introduction was needed to understand some of the details I will post.

  13. #38
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The Telexfree bankruptcy case has now been formally transferred to Massachusetts

    The United States Bankruptcy Court for the District of Massachusetts has established a Telexfree information page which can be accessed HERE




    United States Bankruptcy Court, District of Massachusetts Telexfree LLC bankruptcy page
    The only thing necessary for the triumph of evil is for good men to do nothing

  14. #39
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: FINALLY - Faith Sloan charged by SEC in Telexfree fraud

    Judge Gorton of the Massachusetts District Court has granted a preliminary injunction against Faith Sloan and Sanderly Rodrigues de Vasconcelos (Sann Rodriguez)

    By courtesy of ASD Updates.com the Sloan preliminary injunction can be viewed in .pdf format HERE or downloaded in .pdf format from HERE

    Sloan and Rodrigues have been:

    * ordered to cease conducting and further fraud involving securities or otherwise
    * prohibited from destroying evidence that may be used against them
    * ordered to deposit with the court any funds received from TelexFree investors that are currently held outside of the US
    * prohibited from opening any new bank accounts and accepting any new funds from TelexFree investors
    * ordered to provide the SEC with details of any funds received by them from TelexFree investors, including how such funds were then spent
    * ordered to provide the SEC with a list of any and all assets worth at least $500 individually
    * ordered to provide the SEC with a list of all bank accounts used (under direct or indirect control by Faith and Rodrigues)
    * ordered to repatriate within 5 days any assets located outside the USA which may have been obtained directly or indirectly from investors and/or promoters



    Courtesy of
    ASD Updates.com the preliminary injunction against Sanderly Rodrigues de Vasconcelos (Sann Rodriguez) can be viewed in .pdf format HERE or downloaded in .pdf format from HERE
    The only thing necessary for the triumph of evil is for good men to do nothing

  15. #40
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The only thing necessary for the triumph of evil is for good men to do nothing

  16. #41
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The only thing necessary for the triumph of evil is for good men to do nothing

  17. #42
    benpopov is offline Junior Member
    Join Date
    May 2014
    Posts
    2

    Re: TelexFree is scam or not ?

    This thread should be closed by now. TelexFree is 100% proven Ponzi, closed already and it's owners and managers getting sentenced to years in jail. Next - Wings Network.

  18. #43
    NikSam is offline AntiCon Artist
    Join Date
    Dec 2012
    Posts
    2,254

    Re: TelexFree is scam or not ?

    Quote Originally Posted by benpopov View Post
    This thread should be closed by now. TelexFree is 100% proven Ponzi, closed already and it's owners and managers getting sentenced to years in jail. Next - Wings Network.
    Still a lot of pimps moved to other things, more will be charged, trials, sentences, money recovery, the book is not finished.

  19. #44
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The only thing necessary for the triumph of evil is for good men to do nothing

  20. #45
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The Boston Globe.com is now reporting:

    The wife of TelexFree Inc. co-owner Carlos Wanzeler was arrested at JFK International Airport Wednesday night as she tried to board a flight to leave the country, according to the US Attorney’s office.

    Katia Wanzeler was arrested on a material witness warrant, said the US Attorney’s spokeswoman, Christina Sterling.

    Federal prosecutors are investigating a billion-dollar global fraud that TelexFree was allegedly running.

    Carlos Wanzeler recently fled the US for Brazil. His business partner, James Merrill, was arrested last week and is in custody pending a hearing this Friday.
    You can read the entire article HERE on BostonGlobe.com
    The only thing necessary for the triumph of evil is for good men to do nothing

  21. #46
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The Boston Globe is now reporting:

    Court document details TelexFree co-owner’s escape

    On the April day when federal agents raided TelexFree Inc.’s office in Marlborough, co-owner Carlos Wanzeler hopped into a BMW with his daughter and drove north, slipping into Canada through the tiny town of Lacolle about 11 p.m. Two days later, they caught a flight to Sao Paulo.

    Wanzeler’s wife, Katia, was not so lucky. On Wednesday night, federal agents arrested her at JFK International Airport in New York as she was steps away from boarding a plane bound for Brazil, to join her husband.

    The details of Carlos Wanzeler’s departure are part of a court document released Thursday, shedding new light on the moves of TelexFree’s owners in the days before they were accused of running a billion-dollar global fraud.
    You can read the entire Boston Globe article here
    The only thing necessary for the triumph of evil is for good men to do nothing

  22. #47
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The only thing necessary for the triumph of evil is for good men to do nothing

  23. #48
    kschang is offline Senior Scambuster
    Join Date
    May 2012
    Posts
    866

    Re: TelexFree is scam or not ?

    Quote Originally Posted by benpopov View Post
    This thread should be closed by now. TelexFree is 100% proven Ponzi, closed already and it's owners and managers getting sentenced to years in jail. Next - Wings Network.
    Technically, no. The two are being sought, but they haven't been judged yet. The other 6 haven't been arrested.
    ---
    A MLM Skeptic (not a Cynic) covering scams, critical thinking, and psychology
    http://amlmskeptic.blogspot.com

  24. #49
    littleroundman is offline Administrator
    Join Date
    Jun 2010
    Posts
    17,166

    Re: TelexFree is scam or not ?

    The SEC have filed an amended, more detailed complaint downloadable in .PDF format from ASD Updates

    The amended complaint is similar to the initial complaint, but contains some interesting additional information showing some of the inner workings of Telexfree: (highlighting and bolding added )

    "From April 2012 to April 2014, TelexFree and its two owners Merrill and Wanzeler, assisted by company insiders Labiriola and Craft and promoters such as Rodrigues, De La Rosa, Crosby and Sloan, raised more than $340 million from hundreds of thousands of investors worldwide, including many members of the Brazilian and Dominican immigrant communities in Massachusetts, through a fraudulent and. unregistered offering of securities."

    " The membership tees from investors constituted 99% of the monies taken in by TelexFree"

    " Based on the information available to date, TelexFree's revenues from retail VoIP sales —about $1.3 million in two years —were barely 0.1% of the amount needed to honor its promises to investors who placed internet ads — nearly 51.1 billion. As a result, in classic fashion, TelexFree paid its earlier investors, not with revenues from selling the VoIP service, but with money received from later investors."


    " The company's financial records indicate that, from mid-November 2013 through mid-April 2014, TelexFree transferred approximately $33 million to the individual defendants, their Family members, and companies they controlled (including the relief defendants)"

    "Before the compensation plan was changed on March 9, 201.4, there was no requirement that AdCentral investors actually sell the VoIP service in order to receive the promised weekly payments. The only requirement for receiving the payments was to post
    Internet ads (one per day for each AdCentral contract and five per day for each. AdCentral family contact)"

    " investors were promised unusually high returns —over 200% per year —for doing virtually nothing (except posting meaningless Internet ads); (2) investors were promised bonuses if they recruited new investors, who would do virtually nothing except post ads and recruit new investors (arid so on and so on); and (3) there was an actual VoIP service, but investors did not have to sell the service in order to get paid. Because investors were strongly encouraged to recruit new investors and were not required to sell the VoIP service, the almost inescapable inference is that TelexFree was using funds from later investors to pay earlier investors"

    "Credit card and banking transactions indicate that, from August 2012 to March 2014, Telexfree received slightly more than $1.3 million from the retail sale of approximately 26.300 monthly VoIP contracts. During the same period, TelexFree received more than $340 million from hundreds of thousands of investors who purchased AdCentral or AdCentral Family contracts"

    " In other words, the revenues from retail VoIP sales covered barely 0.1 % of TelexFree's obligations to pay AdCentral investors who placed ads"

    " One bank after another —Bank of America, TD Bank, Citizens Bank, Fidelity Co-Op Bank, Wells Fargo, and Middlesex Savings Bank — ultimately terminated their banking relationships with TelexFree. Several payment processors — PayPal, ProPay, Global Payroll
    Gateway, i-Payout, and Allied Wallet — likewise terminated their relationships with TelexFree"


    "As a result," Sloan knew, was reckless in not knowing, or was negligent about the fact that her public statements promoting TelexFree, including those quoted in the previous paragraphs, were materially false and misleading and, more generally, that her promotional activities on behalf of TelexFree were fraudulent and deceptive, because TelexFree was a Ponzi and pyramid scheme that was destined to collapse, thereby preventing it from making the payments promised to investors"

    "The information available to date indicates that Merrill and Wanzeler, who had sole authority to transfer TelexFree corporate friends until the bankruptcy filing, caused more than $33 million to be transferred from TelexFree accounts to themselves, to family members, to the other individual defendants, or to companies under their control (including the relief defendants)"

    "James Merrill
    The information available to date indicates that, between September 2012 and December 2013, Merrill received more than $3.2 million from TelexFree.
    a. On December 27, 2013, TelexFree paid $3 million to an account jointly held by Merrill and his wife.
    b. On December 26, 2013, TelexFree paid $136,200 to Merrill.
    c. Between September 2012 and February 2013, TelexFree paid a total of $85,000 to Merrill, primarily in monthly payments of $7,500"


    "Carlos Wanzeler
    Tne information available to date indicates that, between November 2012 and February 2014, Wanzeler and members of his family received almost $13.7 million from TelexFree.

    a. On Apri13, 2014, Wanzeler obtained a cashier's check for nearly $3.8 million
    b. On FebrLiary 28, 2014, Katia Wanzeler, the defendant's wife, received $2.5 million
    c. On December 26 and 27, 201.3, Wanzeler received. a total of $7,317,800.
    d. Between November 2012 and April 2013, Fabio Wenlzeler, the defendant's brother, received more than $53,000.
    e. In addition, on April 1 1, 2014 —two days before the bankruptcy filings — Katia Wanzeler and Merrill visited a bank where TelexFree, LLC had an account and obtained cashier's checks for more than $25 million. One check in the amount of $2,000,634, was payable to Katia Wanzeler. That cashier's check is one of the items seized by federal agents at TelexFree's office on April 15, 2014.
    Wanzeler transferred a significant portion of the money he received from TelexFree to at least one bank outside the United States.
    a. On November 25, 2013, he sent $50,000 to an account at the Oversea-Chinese Banking Corporation in Singapore.
    b. On January 2, 2014, he sent an additional $3.5 million to an account at the same bank
    Wanzeler used investor funds to build a small real estate empire"

    "Steven Labriola
    113. The information available to date indicates that Labriola received approximately $8500from TelexFree in 2013 and approximately $46,600 from Wanzeler's company Above & Beyond"

    "Joseph Craft
    1.14. The information available to date indicates that, between September 2013 and March 2014, companies under Craft's control (including Craft Financial Solutions, Inc. and Craft Trust Services, LLC) received more than $2 million from Telexfree"

    Sanderley Rodrigues
    115. Tlie information available to date indicates that, between. September 2012 and March 2013, Rodrigues and companies under leis control received $317,220 from TelexFree.
    (As noted above, Rodrigues claims to lave received more than $3 million by promoting TelexFree.)

    a. On February 28 and March 15, 2013, TelexFree paid a total of $231,367 to W WW Global Business Inc., a corporation that Rodrigues owns.
    b. In September and October 2012, TelexFree paid a total of $82,254 to Rodrigues
    c. On October 9, ?012, TelexFree paid $3,600 to VICSS, Inc., a corporation Rodrigues controls"

    "Santiago De La Rosa
    117. The information available to date indicates that, between Api-i12013 and April 2014, Magica Medica Corp. ( "Magica Medica "), a Massachusetts corporation that De La Rosa formed in March 2013, received a total of more than more than $2.2 million, of which up to $2.1 million is believed to have come from investors, most of whom paid $1,425 each for AdCentral Family memberships. (For reasons that are currently unknown, Magica Medica also received $17,400 from Crosby.)
    11$. De La Rosa used investor fiends to support his- lifestyle.
    a. He paid $501,000 in cash for a house in Lynn, Massachusetts.
    b. He made payments to a BMW dealership and a Mercedes Benz dealership"


    "Randy Crosby
    119. The information available to date does clot identify the amount that Crosby received from TelexFree. It is apparent, however, that Crosby received a substantial amount from TelexFree. As noted above, he publicly claims to have been broke when he began
    promoting TelexFree in December 2012. Nevertheless, he paid $70,000 in cash for a Porsche in September 2013 and $99,000 in cash for another Porsche in December 2013."

    "Faith Sloan
    120. The information available to date indicates that, between March 2013 and April 2014, Sloan. received snore than. $160,400 from TelexFree investors and $51,000 from TelexFree itself"

    "Relief Defendants
    121. Tne information available to date indicates that the relief defendants received more than $6.6 million from TelexFree in 2013:

    a. On December 30 and 31, 2013, TelexFree paid a total of $6,005,000 to
    TelexFree Financial.
    b. According to the financial. statements for 2013 prepared by Craft, TelexFree, LLC made a $2,022,329 "loan" to TelexElectric.
    c. According to the financial statements for 2013 prepared by Craft,
    TelexFree, LLC made a $500,870 "loan" to Telex Mobile"

    "Missing Investor Funds
    122. The whereabouts and/or disposition of much of the more than $340 million. of investor funds raised by TelexFree is presently unkown"

    Last edited by littleroundman; 05-28-2014 at 11:15 PM.
    The only thing necessary for the triumph of evil is for good men to do nothing

  25. #50
    EagleOne's Avatar
    EagleOne is offline Elite Scambuster
    Join Date
    Jun 2010
    Posts
    3,823

    Re: TelexFree is scam or not ?

    I am expecting these numbers to go up once the BK Trustee is named and the accounting begins internally. At least they will be able to see to what countries the money was sent to and how much. This is going to get very interesting and soon.
    EagleOne
    Founder/President Eagle Research Associates
    http://eagleresearchassociates.org
    http://swindles.org
    Author: "Robbing You With A Keyboard Instead Of A Gun - Cyber Crime How They Do It" available in soft cover and eBook at Amazon.com
    Lifetime Member of the National Association of Distinguished Professionals

Page 2 of 5 FirstFirst 1234 ... LastLast

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Disclaimer: Opinions expressed on this website are solely those of their respective authors.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42