TelexFree claim E&Y audit biased because of meme
Prior to its release, Carlos Costa and the rest of the TelexFree troupe were confident the court-ordered Ernst & Young audit would prove TelexFree wasn’t a $1.8 billion dollar Ponzi scheme.
After a series of delays, the audit finally dropped earlier this year in February.
After months of independent investigation and poring over TelexFree data, Ernst & Young concluded that there was evidence of a Ponzi scheme.
TelexFree were quick to dismiss the conclusion, declaring the report to be “full of errors and inconclusive”.
Accusing TelexFree of creating “social unrest”, Acre’s Public Prosecutors then asked the court to release the report, so that the general public might read it and make up their own mind.
TelexFree vehemently opposed the report being made public, arguing that the contents of the report were “protected by tax secrecy” and full of mistakes.
Judge Thais Borges rejected the argument, later going so far as to declare E&Y’s audit report was indeed conclusive.
That was back in April, with TelexFree’s latest ploy now again seeking to discredit the audit.
This time TelexFree are arguing that the report is biased… because it contains a meme.
For those unfamiliar with the term, a meme is
a humorous image, video, piece of text, etc. that is copied (often with slight variations) and spread rapidly by Internet users.
Speaking to the media about TelexFree’s latest filing, their lawyers asked told Brazilian media
There are elements that prove the bias. They put memes [in the report].
How do you put an internet meme in a report that should be impartial?
How indeed.
Can somebody tell me how on Earth E&Y including a meme or two in their audit report arrives one at the conclusion the global firm was somehow biased towards Acre’s Public Prosecutors?
Exactly what kind of dumbass logic TelexFree’s lawyers are now operating on, who knows – but the company has formally requested the E&Y audit report be scrapped, and another firm be appointed to conduct a new audit.
As it stands the E&Y audit report has been accepted by the Acre Court, and has even been translated for submission as evidence in the Department of Justice’s criminal case against TelexFree’s Founders in the US.
But uh no, it’s totally biased because E&Y, for whatever reason, decided to include a meme or two.
With the original audit taking well over six months to put together, it’s pretty obvious that this is little more than a desperate bid to prolong the criminal case in Brazil.
I mean really let’s face it, another audit report will also conclusively reveal TelexFree to be a global Ponzi fraud, Carlos Costa will blow his stack again (“This time they used Times New Roman instead of Arial, BIAS!”), and we’ll be back where we started at.
If the E&Y report is good enough for a Brazilian court and good enough for the DOJ to include it in their criminal case against TelexFree, then it should damn well be good enough for Carlos Costa.
As I understand it TelexFree’s request was filed either Thursday or Friday last week, with Public Prosecutors now having 15 days to respond.
Judge Borges will make a decision on the matter (and we get to watch more Carlos Costa complaining on YouTube).
and yet still not one shred of evidence presented to dispute these alleged ‘lies’ or how E&Y got it wrong.
It’s far more likely there is no meme, merely a reference to a meme to explain certain concept(s) in the report to make it more understandable.
But then, it’s a lawyer’s job to make mountains out of molehills.
Ernst young baptized “project Ramses” the expertise of Telexfree. This is an email from Ernst Young to the experts of “embrac” expertise.
Meeting minutes – Project Ramses (an allusion to the Egyptian Pharaoh) this is “mememe”
So TelexFree claim the internal name of the audit overrides the facts within? Oh dear.
Project Ramses?
Was Earnst & Young engaged to “Find the Pyramid” or audit the company?
ernst& young were engaged to audit the company and ‘locate the pyramid’- if there was one.
like a treasure hunt or something!
‘project ramses’ is quite an inspired name i say! what is costa sweating about?
Carlos Costa is also crying over the fact that at some point Acre’s PP and EY’s experts have had lunch together when they met in Acre.
According to Costa that’s just outrageous because it shows they were working together to produce evidence against his “sacred” company.
Funny enough, he did not complain when he was the one posting videos and pictures of a supposed meeting with EY’s experts to “explain” how his business” works.
Go figure…