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Thread: TelexFree is scam or not ?

  1. #76
    littleroundman is offline Administrator
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    Re: TelexFree is scam or not ?

    Globo.com is reporting that Brazilian police have raided the headquarters of the Telexfree Brazilian affiliate, Ympactus.



    Gazeta Online.Globo.com report in Portuguese.



    Google Translation of the Globo.com article
    The only thing necessary for the triumph of evil is for good men to do nothing

  2. #77
    thatguy1986 is offline Junior Member
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    Re: TelexFree is scam or not ?

    Telexfree is dealing with all kinds of legal issues right now it seems.

  3. #78
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    Re: TelexFree is scam or not ?

    Quote Originally Posted by thatguy1986 View Post
    Telexfree is dealing with all kinds of legal issues right now it seems.
    And they are going to be dealing with a whole lot more of them. They have just started the criminal charges and all the civil charges aren't finished either.
    EagleOne
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  4. #79
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    Re: TelexFree is scam or not ?

    NEWS Telegram.com is reporting:

    Feds seek assets in TelexFree case


    some highlights:

    WORCESTER — Prosecutors in the TelexFree Inc. case are going after dozens of bank accounts and properties, including several in Central Massachusetts, that they say are linked to the alleged pyramid scheme.

    The assets include nearly $97 million in cash, checks and bank accounts, homes in Massachusetts and Florida, several high-end automobiles and two boats, according to a federal indictment.

    In Central Massachusetts, the properties range from modest rental homes in Worcester to a mansion in Northboro. Authorities also want bank accounts at Commerce Bank and Digital Credit Union forfeited to the government.
    TelexFree may owe money to 1 million people, according to filings by the trustee assigned to the company's bankruptcy filing.
    In Central Massachusetts, prosecutors are going after several homes owned by Acceris Realty Estate LLC, according to deeds. Mr. Wanzeler's wife Katia is listed in state records as manager of Acceris.

    The properties include:

    •A 4,126-square-foot home at 373 Howard St., Northboro, that Acceris bought in May 2013 for $950,000, according to a deed and assessor's records.

    •A 1,000-square-foot townhouse at 30D Mount Ave., Worcester, that Mr. Wanzeler bought in December 2012 for $118,000 and then transferred to Acceris in May 2013.

    •A duplex at 462-464 Coburn Ave., Worcester, that Acceris bought in March 2013 for $241,320.

    Silvania Silva, who has lived in one unit of the duplex with her family for a year, said yesterday she rents from Katia Wanzeler but does not interact with her. Ms. Silva's relatives rent the other half of the duplex from Mrs. Wanzeler, who she described as a "good landlord."

    In addition, federal authorities are seeking the forfeit of:

    •An 1,100-square-foot townhouse at 41A Mount Ave., Worcester, that Mr. Wanzeler bought in 2002 for $150,000, according to a deed. State records list this as the location of Acceris. No one answered the door Friday at the home, where weeds poked up through a brick walkway and unopened mail was piled in a mailbox.

    •A two-family, 2,663-square-foot home at 63 Prospect St., Worcester, owned by JC Real Estate Management Co. LLC.

    •$421,115 seized from Commerce Bank accounts for Brazilian Help Inc. Mr. Wanzeler is listed in state records as the president of Brazilian Help.

    •$129,088 seized from Digital Credit Union of Marlboro from an account for Above & Beyond the Limit LLC. The credit union declined to comment.

    Authorities said in the affidavit they also might seek the forfeit of 655 Plantation St., Unit 17B, a 962-square-foot condo bought by Mr. Wanzeler in 2004 for $112,000; 149 Barnard Road, Worcester, a 1,200-square-foot house that Mr. Wanzeler bought in 2012 for $110,000 and later transferred to Acceris; and 59 Pleasant St., Clinton, a 3,700-square-foot, two-family home Mr. Wanzeler bought in 2012 for $130,000 and later transferred to JC Real Estate Management.
    One unusual aspect of the TelexFree case is that it is moving forward in three federal court systems: criminal, bankruptcy and civil, where the Securities and Exchange Commission has filed suit against TelexFree. Both criminal and bankruptcy authorities are seeking the company's assets, raising the question of who might handle the task of repaying people who say they gave money to TelexFree.

    "If federal law says the U.S. Attorney can seize assets and take priority over the debtor and creditors, then the bankruptcy court and the trustee have to abide by the law," said Kevin McGee, a bankruptcy lawyer with the Worcester firm Seder & Chandler LLP.
    Stephen B. Darr, the trustee in the bankruptcy case, said he and the U.S. Attorney's office are cooperating.

    "Certainly all the funds I accumulate will be for the administration of the estate, payments to the creditors, and the money that the U.S. Attorney's office attains under the forfeitures I believe will be made available to the victims," he said.
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  5. #80
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    Re: TelexFree is scam or not ?

    The State of Illinois has issued an Amended order of prohibition against Telexfree Inc, Telexfree Llc, James M Merrill, Carlos N Wanzeler, Joseph H Craft, Steven M Labriola and FAITH SLOAN prohibiting them from engaging in the sale of securities in or from the state of Illinois




    It is interesting to note Sloan is a resident of Illinois, meaning any violation of the order by Sloan in or from her home state could result in felony charges.
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  6. #81
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    Re: TelexFree is scam or not ?

    Federal prosecutors have applied for a MOTION FOR COMPLEX CASE DESIGNATION AND EXCLUSION OF TIME






    Our thanks go out to ASDUpdates.com for providing access to court documents
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  7. #82
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    Re: TelexFree is scam or not ?

    Changes WorldWide BigShot Millionaires Global Power Team - Faith Sloan


    Quote Originally Posted by littleroundman View Post
    The State of Illinois has issued an Amended order of prohibition against Telexfree Inc, Telexfree Llc, James M Merrill, Carlos N Wanzeler, Joseph H Craft, Steven M Labriola and FAITH SLOAN prohibiting them from engaging in the sale of securities in or from the state of Illinois




    It is interesting to note Sloan is a resident of Illinois, meaning any violation of the order by Sloan in or from her home state could result in felony charges.

  8. #83
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    Re: TelexFree is scam or not ?

    No one believed she was actually going to adhere to that did they?

  9. #84
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    Re: TelexFree is scam or not ?

    The US Government has this week filed a MOTION FOR AUTHORIZATION TO USE ALTERNATIVE PROCEDURES TO NOTIFY POTENTIAL VICTIMS

    Some highlights:










    Our thanks go out to ASDUpdates.com for providing access to court documents
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  10. #85
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    Re: TelexFree is scam or not ?

    Dashing the hopes of any remaining Telexfree members who thought the fraudsters behind its' fake bankruptcy application would stave off official action comes the news the court appointed bankruptcy trustee, Stephen B Darr has this week submitted a Motion by the Chapter 11 Trustee for authority to waive the attorney-client client privilege with respect to certain governmental proceedings to the courts

    Some highlights:















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  11. #86
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    Re: TelexFree is scam or not ?

    The Boston Globe is today reporting:

    Fitchburg bank will pay $3.5m in TelexFree case


    A community bank in Fitchburg with ties to TelexFree Inc.’s former chief executive, James Merrill, has agreed to a $3.5 million settlement with Secretary of State William F. Galvin’s office, for allegedly allowing the company to open accounts without vetting its business.

    Fidelity Bank neither admitted to nor denied the allegations.

    Galvin’s office began an investigation of the bank and its president, John F. Merrill — the brother of the TelexFree executive — in April. That was shortly after TelexFree had filed for bankruptcy protection and federal and state authorities had filed fraud charges against the Marlborough company and its principals, alleging they were conducting a $1 billion global pyramid scheme.

    TelexFree had been shut down in Brazil in June 2013, but it maintained a US office in Marlborough. TelexFree opened two accounts with Fidelity Bank in August 2013 and a third in September of that year, according to the settlement agreement, which was obtained by the Globe. The company proceeded to send millions of dollars and a high volume of transactions through the bank, according to the document, including $10.5 million for the banker’s brother and his business partner, Carlos Wanzeler, a fugitive who has returned to his native Brazil.

    It took until November 2013 for John Merrill, the bank president, to have his compliance department review the TelexFree account activity, Galvin alleged. An Internet search by his staff turned up TelexFree’s legal problems in Brazil, and the bank in December told TelexFree to close its accounts by the end of the year.

    But the bank allegedly continued to allow James Merrill, of Ashland, and Wanzeler, who was then living in Northborough, to make personal transfers through December.

    In one such transaction, Wanzeler allegedly moved $3.5 million from his personal account at Fidelity Bank to an account in Singapore.

    Galvin’s office alleged the bank did not do enough due diligence when it opened the account and did not have sufficient oversight in place to handle TelexFree’s large deposit accounts.

    Karen Schwartzman, a spokeswoman for the bank, said Fidelity Bank and its principals did not know TelexFree was running an alleged fraud. She said the bank agreed to settle with Galvin’s office rather than engage in prolonged and costly litigation.

    “We believe it makes more sense to use those resources to help those members of our community who have been hurt by the TelexFree situation, and to maintain our focus on the businesses, families, and individuals we serve,’’ Schwartzman said.

    Galvin said the funds would go to help victims in Massachusetts, who believe they may have lost as much as $90 million. “This is a small start, but nevertheless a start,’’ he said.

    TelexFree was purportedly a telecommunications company, selling low-cost, long-distance phone plans. But prosecutors say the company preyed on Brazilian and Dominican immigrants, enticing them to set up “accounts” for about $1,400 each, and then getting their friends and family to sign up, as well. They were asked to help market the company by approving online advertisements and would receive $100 a week if they did so.

    But it took a constant flow of new investors to pay off the earlier ones, prosecutors have alleged.

    Merrill and Wanzeler are facing criminal fraud charges. Merrill is at home on bail awaiting trial, and wearing a location-monitoring ankle bracelet.
    Wanzeler has fled to Brazil; it is unclear if he will return to the United States. Lawyers for both men deny they are guilty of the charges against them.

    Fidelity Bank is a 126-year-old community institution with $565 million in assets. Schwartzman, the spokeswoman, said the bank will be profitable this year despite the $3.5 million settlement and has ample capital to cover the payout.
    The only thing necessary for the triumph of evil is for good men to do nothing

  12. #87
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    Re: TelexFree is scam or not ?

    Following Fidelity Banks' settlement with Secretary of State William F. Galvin’s office, the Bankruptcy Court Appointed Chapter 11 trustee, Stephed B Darr to day filed a Motion to Conduct Rule 2004 Examination of Fidelity Co-Operative bank with the United States Bankruptcy Court:



    Rule 2004 examination
    Web definitions

    an extended examination of any person pursuant to Federal Rule of Bankruptcy Procedure 2004 regarding one or more aspects of a debtor’s financial affairs. A Rule 2004 examination is similar to a deposition in non-bankruptcy proceedings.
    The only thing necessary for the triumph of evil is for good men to do nothing

  13. #88
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    Re: TelexFree is scam or not ?

    Proving once again the fallout from these frauds extends far beyond a few people losing a few dollars, ModernGhana.com is reporting:

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  14. #89
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    Re: TelexFree is scam or not ?

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

  15. #90
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    Re: TelexFree is scam or not ?



    BEHINDMLM.com is today reporting:



    You can read the entire original article Sanderley Rodrigues arrested for visa fraud on BehindMLM
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  16. #91
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    Re: TelexFree is scam or not ?

    One would think Sann Rodrigues is looking down the barrel of a lot more than visa fraud charges.



    Special Agent Paul Melican affidavit provided courtesy of ASDUpdates




    NCJRS / New England HIDTA
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  17. #92
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    Re: TelexFree is scam or not ?

    Extracts from Special Agent Paul Melicans' affidavit provided courtesy of ASDUpdates















    For anyone foolish enough to believe investigators don't have a web presence or pay attention to anti scam forums, comes this little detail from the bottom of page four:

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  18. #93
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    Re: TelexFree is scam or not ?

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

  19. #94
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    Re: TelexFree is scam or not ?

    Some interesting facts have been revealed in an article from the Worcester Massachusetts Telegram.com



    You can read the original article here on Telegram.com
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  20. #95
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    Re: TelexFree is scam or not ?

    Brazils' El Nuevo Herald is reporting (via Google translate)



    MEANWHILE



    Interpol wanted notice
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  21. #96
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    Re: TelexFree is scam or not ?



    You can read the original article here on
    ThinkAdvisor.com
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  22. #97
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    Re: TelexFree is scam or not ?

    The Chapter 11 bankruptcy trustee has submitted a Motion by Chapter 11 Trustee for Entry of Order Finding That Debtors Engaged in Ponzi and Pyramid Scheme and Related Relief

    Some highlights (bolding and highlighting added)

    MOTION BY CHAPTER 11 TRUSTEE FOR ENTRY OF ORDER FINDING THAT
    DEBTORS ENGAGED IN PONZI AND PYRAMID SCHEME AND RELATED RELIEF

    To the Honorable Melvin S. Hoffman, Chief United States Bankruptcy Judge: Stephen B. Darr, the duly appointed Chapter 11 trustee (the "Trustee") of the bankruptcy estates of TelexFree, LLC, TelexFree, Inc., and TelexFree Financial, Inc. (collectively, the “Debtors”), respectfully requests entry of an order finding that the Debtors were engaged in a Ponzi/pyramid scheme and that such finding be applicable to all matters in these proceedings.
    The Debtors ostensibly operated a multi-level marketing company engaged in the sale of voice over internet service but, as detailed herein, the Debtors’ operations actually were a massive Ponzi/pyramid scheme that ensnared as many as a million or more participants from multiple countries (hereinafter, parties who became members of the Debtors’ scheme shall be referred to as “Participants”). Participants opened approximately 11,000,000 User Accounts (as hereafter defined) and purchased membership plans and/or Voice over Internet Protocol (“VoIP”) service with a transaction value of approximately $3,070,000,000 during the approximately two years of the Debtors’ operation of their scheme. An affiliate of the Debtors, Ympactus Comercial Ltda. (“Ympactus”), reportedly operated a substantially similar scheme in Brazil which was seized and shut down by the Brazilian authorities in June 2013.
    5. On or about April 15, 2014, the MSD commenced an administrative proceeding against the Debtors. Also on April 15, 2014, the Securities and Exchange Commission (the “SEC”) commenced an action against the Debtors and others in the United States District Court for the District of Massachusetts. The foregoing actions alleged, among other things, that the Debtors were engaged in an illegal Ponzi/pyramid scheme and the fraudulent unregistered offering of securities. Substantially contemporaneously with the commencement of the SEC action, Homeland Securities Investigation (“HSI”) seized the Debtors’ assets, books, and records. In connection therewith, the federal government seized more than $107,000,000 in cash, including funds on deposit and checks payable to the Debtors, their principals, or their affiliates. Federal authorities have also made forfeiture claims against approximately forty (40) other items of real and personal property standing in the name of the Debtors’ principals and their affiliates, including automobiles, real properties, and notes secured by mortgages on real properties.
    13. Prior to the Trustee’s appointment, the Federal Authorities shut down, disconnected, and seized the Debtors’ computer system, which consisted of forty-six (46) computers and servers containing more than twenty (20) terabytes of data.
    25. As set forth above, there are approximately 11,000,000 User Accounts associated with the Debtors’ MLMP. A new User Account was generally established each time that a membership plan was purchased, with either cash or accumulated credits.
    26. Although some versions of Participant contracts contained prohibitions against Participants opening multiple User Accounts for themselves, other plan descriptions did not. In any case, any such restriction was not enforced and could not be enforced since the Debtors did not verify the Participants’ identities. The Debtors’ MLMP structure created incentives for Participants to open multiple User Accounts to generate credits for themselves.
    28. In fact, it was a regular practice of the Debtors’ scheme that membership fees were paid by the use of accumulated credits rather than by cash. While invoices associated with the sale of membership plans or VoIP Packages had a face value of approximately $3,070,000,000, only $360,000,000, or approximately twelve percent (12%) of that amount, was paid in cash to the Debtors. The balance of these invoices was satisfied by the use of Participants’ credits.
    36. The Debtors’ database was developed by programmers in Brazil and all field references are in Portuguese. The developers apparently lacked the expertise to create and manage a system of this magnitude. As a result, system modifications appear to have been done in a haphazard and disorganized fashion. In addition, the Debtors’ system is permeated with unreliable data because of limited efforts at data validation of information provided by Participants in establishing User Accounts.
    39. Each User Account with the Debtors was registered with an electronic mail address (an “Email Address”). There are approximately 900,000 unique Email Addresses in SIG associated with approximately 11,000,000 Debtor User Accounts. The number of User Accounts associated with an Email Address varies widely. A particular Email Address may be associated with only a single User Account or may be associated with hundreds or thousands of User Accounts. Because each User Account may represent a separate Participant and some Participants entered the scheme using the Email Address of another Participant, the number of Participants is unknown but is likely in excess of 1,000,000.
    43. On June 28, 2013, the Public Prosecutor’s Office of the State of Acre, Brazil filed claims against Ympactus, Carlos Wanzeler, Lyvia Mara Campista Wanzeler, and James Merrill, alleging that the VoIP Packages marketed in Brazil were violating consumer rights, since the MLMP constituted a Ponzi/pyramid scheme. The Brazilian authorities suspended the operations of Ympactus and froze its assets. Upon information and belief, the Brazilian authorities seized as much as $300,000,000 from Ympactus in connection with the shutdown, and civil and criminal proceedings are pending in Brazil.
    44. Upon information and belief, on or about September 21, 2015, the Brazilian court entered a decision finding that Ympactus operated a pyramid scheme.
    45. Following the shutdown of Ympactus, the Debtors’ cash receipts increased dramatically. The Debtors’ cash receipts totaled approximately $200,000,000 in the last three full months of operation, with more than $96,000,000 in cash receipts in February 2014 alone.
    50. Utilizing the currency designation, it appears that approximately 11,000,000 User Accounts are associated with the Debtors’ operations and approximately 4,000,000 User Accounts are associated with Ympactus operations and the remaining 2,000,000 User Accounts
    had no activity.
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  23. #98
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    Re: TelexFree is scam or not ?

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

  24. #99
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    Re: TelexFree is scam or not ?

    An interesting extract from the Motion by Chapter 11 Trustee for Entry of Order Finding That Debtors Engaged in Ponzi and Pyramid Scheme and Related Relief



    Those who continue to believe clicking on ads, posting of ads or recruiting for ponzi and pyramid schemes is recognized by the courts as being "work" would do well to take notice of Judge Tuccis' ruling that Telexfree WAS a ponzi and pyramid scheme and therefore payment for clicking, posting and recruiting is not legitimate income.
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  25. #100
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    Re: TelexFree is scam or not ?

    Not before time, the courts and prosecutors are beginning to play hardball with the criminals behind these frauds:



    SEC Litigation release
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