Articles under ‘TelexFree’:

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.

SEC file for lift of stay in TelexFree civil case

Although the SEC was the first US regulator to move against TelexFree, subsequent criminal proceedings filed by the DOJ saw civil proceedings stayed. With James Merrill recently sentenced to six years in prison and the DOJ unable to extradite Carlos Wanzeler from Brazil, the SEC has filed a motion requesting the previously granted stay be [Continue reading…]

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.