Articles under ‘TelexFree’:

Steven Labriola to return $98,963 to TelexFree victims

When owners James Merrill and Carlos Wanzeler decided they would no longer face TelexFree’s angry owners, it was left up to Steven Labriola to come up with excuses. Perhaps the most infamous statement by Labriola was in relation to TelexFree’s bankruptcy. In misguided belief it would see the SEC ignore millions of dollars in Ponzi [Continue reading…]

DOJ claim Rocha voluntarily gave up evidence (TelexFree)

A fortnight ago news broke that Cleber Rene Rizerio Rocha, better known as the TelexFree money mattress mule, wanted evidence obtained against him suppressed. Cleber claims statements he made after his arrest were obtained “in violation of (his) Fifth Amendment right to counsel”. Evidence obtained from his phone meanwhile was obtained “without a warrant and without [Continue reading…]

TelexFree owners face eight new criminal lawsuits in Brazil

Authorities in Brazil continue efforts to bring TelexFree’s Carlos Wanzeler and Carlos Costa to justice, with eight new criminal complaints filed yesterday. The Federal Public Prosecutors Office in Espírito Santo have charged Wanzeler, Costa and twenty-one other individuals with money laundering and evasion of foreign exchange.

Cleber Rocha wants money laundering evidence suppressed

With tens of millions of dollars in stolen Ponzi money on the line, the Department of Homeland Security agents who arrested Cleber Rene Rizerio Rocha had to move fast. Rocha, better known as the TelexFree mattress money mule, was caught trying to launder stolen investor funds on behalf of Carlos Wanzeler and his nephew, Leonardo Casula [Continue reading…]

Sann Rodrigues settles TelexFree fraud for $1.7 million

After initially opting to play fast and loose with the SEC, it appears time in jail for contempt and pleading guilty to visa fraud has brought Sann Rodrigues to the negotiation table. As per an April 25th proposed settlement agreement between Rodrigues, the SEC and the TelexFree Trustee, the three parties recently entered settlement negotiations.

James Merrill sentenced to six years prison for TelexFree fraud

The DOJ wanted ten years, Merrill’s lawyers argued for just over a year… Judge Hillman mulled both side’s arguments and decided on six years.

Carlos Wanzeler’s nephew indicted in TelexFree mattress mule case

Cleber Rene Rizerio Rocha, better known as the TelexFree mattress money mule, was arrested by authorities in early January. On January 23rd Rocha was ordered to remain under detention pending trial. On March 7th, Rocha and Leonardo Casula Francisco were both indicted by a grand jury.

Merrill turns up crocodile tears in sentencing memorandum

To understand how Jim Merrill became ensnared in this mess, one must understand Jim Merrill, the human being. James Merill’s March 17th sentencing memorandum reads like a list of things someone who heads up a Ponzi scheme stands to lose if they’re caught. What should be a deterrent to other Ponzi fraudsters is instead presented [Continue reading…]

TelexFree owners: Investors were “dumb people”

In order for owners and early investors of Ponzi schemes to withdraw money, they have to convince those below them to reinvest. Also referred to as “compounding” or “building”, in a nutshell non-existent money is recycled into more non-existent money, all the while real money is being pulled out by admins and early investors. Everybody winks [Continue reading…]

DOJ wants James Merrill behind bars for ten years

Any notion that James Merril might get off lightly for cooperating with authorities has been dashed, following the filing of a ten-year recommended prison sentence. And that’s with full consideration of his cooperation.