Articles under ‘TelexFree’:

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.


Carlos Wanzeler stripped of Brazilian citizenship (extradition finally?)

Breaking news on US efforts to extradite TelexFree owner Carlos Wanzeler on criminal charges, following a decision to strip Wanzeler of his Brazlian citizenship. Can’t say I saw this one coming…


TelexFree mattress money mule sentenced to 33 months in prison

Cleber Rene Rizerio Rocha, better known as the TelexFree mattress money mule, was busted earlier this year trying to launder $20 million in stolen Ponzi funds. Following a guilty plea in October, Rocha was scheduled to be sentenced on December 20th. The sentencing was delayed, following Rocha’s comical attempt to credit himself with the recovery of the $19.2 [Continue reading…]


TelexFree disputed victim claims resolution approved

Back in October the TelexFree Trustee filed a proposal to resolve some 19,530 disallowed victim claims. Concerned that they might be potentially held accountable for more than they stole, net-winners objected to the Trustee’s proposal. The Trustee responded to these objections, asserting that net-winners had no say or standing in the victim claims process. On [Continue reading…]


TelexFree mattress money mule sentencing delayed to February, 2018

Cleber Rene Rizerio Rocha, better known as the TelexFree mattress money mule, was busted earlier this year trying to launder $20 million in stolen Ponzi funds. Following a guilty plea in October, Rocha was scheduled to be sentenced on December 20th. On December 18th Rocha filed a motion requesting his sentencing hearing be continued. The [Continue reading…]


Randy Crosby folds, enters into negotiations with the SEC

After holding out for three and a half years, Randy Crosby has finally entered into negotiations with the SEC. The SEC have identified Crosby as “one of the most successful promoters of TelexFree”. In response to the granting of a preliminary injunction that froze his assets, Crosby claimed he knew nothing of TelexFree being a $3 [Continue reading…]


TelexFree Trustee responds to net-winner class claim objections

The TelexFree Trustee has filed a response to the net-winner class’ objections to the claim resolution process. Filed on November 14th, TelexFree’s net-winner class objected to not being given a chance to review or object to claims not having a chance to respond to claim objections in individual proceedings not having their claims decided through [Continue reading…]


Carlos Wanzeler’s seized assets to be sold (TelexFree)

Carlos Wanzeler, one of the masterminds behind the $3 billion TelexFree Ponzi scheme, remains a fugitive at large. A hasty flight to Canada and then Brazil saw Wanzeler leave behind a significant number of assets, which were promptly seized by the DOJ. These assets are currently in storage, where they ‘are incurring storage costs and depreciating [Continue reading…]