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.
Articles under ‘TelexFree’:
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…]
Over four years since the SEC filed suit against Faith Sloan, a trial date has now been set.
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.
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.
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.
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…
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…]
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…]
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…]