Articles under ‘TelexFree’:

TelexFree mattress money mule pleads guilty

Back in January¬†Cleber Rocha, an accomplice of TelexFree owner Carlos Wanzeler, was caught trying to launder over twenty million dollars in stolen investor funds. An indictment on two counts of money laundering followed in March, which Rocha initially plead not guilty to. As of June Rocha was still contesting the indictment, however earlier this month [Continue reading…]

TelexFree mattress money mule to change money laundering plea

Cleber Rocha, accomplice of TelexFree’s Carlos Wanzeler, was indicted back in March for money laundering. The indictment followed the arrest of Rocha in January, after authorities caught him distributing large sums of money on Wanzeler’s behalf. Information provided by Rocha lead to the seizure of twenty million dollars, hidden under a mattress in an apartment [Continue reading…]

Joseph Craft banned from appearing before SEC as an accountant

Continuing their pursuit of professionals who enabled the $3 billion dollar Ponzi scheme TelexFree, the SEC today announced it has banned Joseph Craft from appearing before them as an accountant.

TelexFree civil case resumes, SEC files second complaint amendment

With criminal proceedings against TelexFree’s James Merrill completed, the SEC filed for a lift on the stay that froze their civil case back in 2014. That motion was granted on September 12th, which will see the SEC resume proceedings against TelexFree, Carlos Wanzeler, Santiago De La Rosa, Randy Crosby and Faith Sloan.

SEC obtain Final Judgment against James Merrill & Joe Craft (TelexFree)

Last we checked in the SEC were seeking Final Judgment against TelexFree cofounder and President, James Merrill. In a parallel criminal case Merrill was sentenced to six years prison back in March. According to a filing by the Trustee in July, the SEC had also reached a stipulated settlement agreement with TelexFree’s CFO, Joseph Craft. [Continue reading…]

Final Judgment sought in SEC vs. James Merrill (TelexFree)

With the criminal side of TelexFree wrapped up (for now), the SEC’s civil proceedings have resumed. Back in September, 2014, the DOJ were granted a stay on all civil proceedings involving TelexFree, pending the outcome of their criminal case. With Merrill sentenced to six years in prison back in March, the SEC are now looking [Continue reading…]

Fabio Wanzeler claims properties not purchased with TelexFree funds

As part of ongoing efforts to secure ill-gotten assets obtained by TelexFree co-owner Carlos Wanzeler, the DOJ sought to secure¬†Boynton Beach and Coconut Creek properties in Florida. The property in question is held in the name of Carlos Wanzeler’s brother Fabio and his wife Claudia.

TelexFree victims’ allowed claims between $500 to $700 million

As part of a filing pertaining to James Merrill’s restitution, the TelexFree Trustee has revealed that the current estimate of the aggregate amount of allowed fraud victim claims is between $500 million and $700 million. Unfortunately Merrill’s restitution order doesn’t name a specific amount, but rather consolidates his restitution with that of the Trustee’s efforts.

Joseph Craft settles, agrees to relinquish stolen TelexFree Ponzi funds

When TelexFree offices were raided by the FBI, DHS and ICE, Joseph Craft attempted to flee the scene with a big black sports bag. Inside the bag was a laptop and $37.9 million dollars in cashiers checks, made out to owners Carlos Wanzeler, James Merrill and their accomplices. Craft’s served as TelexFree’s Chief Financial Officer [Continue reading…]

Acre fines TelexFree $921,531, orders company pay back investors

Regulatory proceedings against Ympactus, the Brazilian arm of the TelexFree Ponzi scheme, began all the way back in June, 2013. On June 19th, 2014, Public Prosecutors in the Brazilian state of Acre were granted an injunction against Ympactus. The ruling was effectively the beginning of the end of the end of TelexFree’s operations in Brazil.