Articles under ‘TelexFree’:

Infinium Wireless to return $7500 to TelexFree Ponzi victims

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…]

Rodrigues receives two years supervised release for visa fraud

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.

SEC: Merrill’s guilty plea “not accepted” by court (TelexFree)

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…]

James Merrill pleads guilty to wire fraud, sentencing in Feb 2017

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.

Rodrigues pleads guilty to visa fraud, sentencing on Nov 15th

Last month we reported that Sanderley Rodrigues had agreed to enter a guilty plea for visa fraud. At an October 5th hearing Rodrigues entered a guilty plea, which was accepted by the court.

James Merrill to plead guilty for TelexFree Ponzi fraud on Monday

After a failed bid to delay his trial until November 14th, James Merrill’s criminal proceedings were scheduled to kick off on November 8th. Rather than attempt to clear his name and business dealings through TelexFree, it now appears that an eleventh hour plea deal has been struck. This coming Monday, James Merrill is expected to [Continue reading…]

DOJ seek to exclude Nehra’s Zeek settlement from Merrill trial

A year ago the Zeek Rewards Receiver sued disgraced Ponzi lawyer Gerry Nehra for $100 million. Two months later Nehra settled with the Receiver for $100,000 and acknowledged Zeek Rewards was a Ponzi scheme. In their case against TelexFree co-owner James Merrill, the DOJ have called Nehra up as a government witness. In a motion filed [Continue reading…]

Merrill trial continuance granted but only for 2 weeks

A few days ago James Merrill filed a motion for continuance, requesting his upcoming criminal trial be postponed till November 14th. The DOJ opposed the motion, citing preparation issues and weakness with Merrill’s reasoning. A hearing on the matter was held earlier today.

DOJ oppose Merrill’s proposed November trial delay

Two days ago James Merrill filed a motion requesting his upcoming criminal trial be postponed till November 14th. The original trial date (which has been rescheduled at least twice at Merrill’s request already), was October 23rd. Today the DOJ filed an opposition to Merrill’s motion, citing a number of legally compelling reasons.

Hanna Shea settlement sees firm keep $20,000 TelexFree fee

As part of the TelexFree Trustee’s clawback rampage filed back in April, Hanna Shea Consulting was sued for $20,000. Rather than accept they had received stolen Ponzi funds as compensation and return the money for distribution to victims, Hanna Shea doubled down and filed a claim for an outstanding balance of $17,500. Negotiations between the [Continue reading…]