Articles under ‘TelexFree’:

Seventy-two TelexFree disallowed claims lists published

The good news TelexFree victims waiting for an update on allowed claims is you’re one step closer to distribution. The bad news is the latest update means payments probably won’t be going out this year.


The SEC’s delicious deposition of Faith Sloan

As part of their civil TelexFree case, on October 4th and November 5th the SEC deposed Faith Sloan. Whereas Sloan certainly isn’t the first prominent MLM underbelly figure to be deposed, what makes this deposition unique is that the SEC has made the entire transcript public. Sloan’s deposition provides revealing insight into the mind of [Continue reading…]


SEC slams Faith Sloan’s fraud, seeks $1.2 million partial judgment

What kind of MLM marketer is Faith Sloan? According to the SEC she’s one that has participated in at least nine multi-level marketing programs (including TelexFree) in which a promoter recruits other promoters and is compensated according to the number of persons recruited. Yep. The SEC just publicly slammed Faith Sloan for serial scamming the public [Continue reading…]


Carlos Wanzeler’s brother Fabio settles TelexFree fraud

TelexFree co-owner Carlos Wanzeler’s brother, Fabio Wanzeler, was a net winner in the $3 billion dollar Ponzi scheme. Fabio Wanzeler profited some $633,578 off of TelexFree victims. His wife, also an investor, wound up losing $7000. Not surprisingly, the net-winner status of Fabio Wanzeler and his wife saw them face clawback litigation from the court-appointed [Continue reading…]


Final Judgment ruled against TelexFree in SEC case

All but cementing any doubt it wasn’t a $3.6 billion dollar Ponzi scheme, on September 28th Judge Gorton ordered Final Judgment against TelexFree and TelexFree LLC.


$2.5M default judgment sought against Telex Mobile & TelexElectric

According to records prepared by disgraced accountant Joseph Craft, TelexFree transferred $500,870 to Telex Mobile and $2.02 million to TelexElectric between 2012 to 2014. For all intents and purposes Telex Mobile and TelexElectric were shell companies owned by Carlos Wanzeler and James Merrill. Arguing that neither company provided any services to TelexFree in exchange for [Continue reading…]


Faith Sloan’s TelexFree trial date set, Wanzeler proceedings stayed

Over four years since the SEC filed suit against Faith Sloan, a trial date has now been set.


Santiago De La Rosa settles with SEC and TelexFree Trustee

Following denial of his motion to dismiss, Santiago De La Rosa entered settlement negotiations with the SEC and TelexFree Trustee. Those negotiations lead to a proposed settlement, which was approved by the court on July 31st.


Randy Crosby enters into settlement with TelexFree Trustee

Following on from the news that Randy Crosby had entered into settlement negotiations with the SEC late last year, a stipulated settlement with the TelexFree Trustee has been filed.


Sloan & De La Rosa’s TelexFree motions to dismiss denied (SEC)

The road to holding two of TelexFree’s biggest promoters accountable has been a long one, but the SEC is one step closer following a dismissal of two motions to dismiss.