If you’ve been paying any attention to the rumblings of the MLM underbelly, hours after Donald Trump is sworn in on January 20th Ponzi and pyramid schemes will be declared legal and a new golden era of scamming will be upon us. Until then, February is shaping up to be quite the win for US [Continue reading…]
Articles under ‘TelexFree’:
As the years drag on, how TelexFree mastermind Carlos Wanzeler has been supporting himself in Brazil has been a bit of mystery. Insight into Wanzeler’s plans for the future have finally been revealed, following the arrest of a Brazilian national in Massachusetts.
Following a hearing held on December 21st, the TelexFree victim claim deadline has been extended until March 15th, 2017.
Tax authorities in Brazil aren’t done investigating TelexFree, with the latest seeing Carlos Costa sued for $1.3 million dollars in tax fraud.
The TelexFree victim claim portal went live earlier this year in May. In September, the TelexFree Trustee sought an extension to the claim deadline. This request was approved, with an extension for filing victim claims granted until December 31st, 2016. With the deadline only a few weeks ago, the Trustee has again sought a deadline [Continue reading…]
Realizing the gig was up, Carlos Wanzeler fled the US as regulators closed in on TelexFree. As one of the owners of the TelexFree Ponzi scheme, in July 2014 Wanzeler was indicted for fraud and conspiracy. A superseding indictment was filed back in September, focusing on money laundering and assets derived from unlawful activity. While is [Continue reading…]
It hasn’t been a good month for MLM Ponzi settlements. Earlier this month the Zeek Rewards Receiver settled with Gary Bessoni for $175,000. Through Zeek Rewards, Bessoni had stolen around $3.3 million dollars from Ponzi victims. Now news of a settlement between the TelexFree Trustee and Infinium Wireless, through which less than 1% of the [Continue reading…]
Following a guilty plea entered last month, earlier today Sanderely Rodrigues fronted court for a sentencing hearing. Rodrigues faced a maximum penalty of ten years in prison, supervised release for three years, a $250,000 fine and deportation.
This came as a bit of a surprise… On October 24th James Merrill plead guilty to guilty to eight counts of wire fraud and one count of conspiracy to commit wire fraud. The charges stemmed from Merrill’s involvement in running TelexFree, a $3 billion dollar Ponzi scheme. As per a Status Report fled by the [Continue reading…]
As reported three days ago, TelexFree co-owner and President James Merrill has today formally entered a guilty plea in his criminal case. As per a plea agreement filed on October 24th, Merrill has plead guilty to eight counts of wire fraud and one count of conspiracy to commit wire fraud.