Carlos Wanzeler’s life as a fugitive might have finally come to an end. Following the cancellation of his Brazilian citizenship, Brazilian authorities have rejected Wanzeler’s Supreme Court appeal.
In addition to being pursued by the SEC, TelexFree net-winner Faith Sloan also faced clawback litigation from the Trustee. According to the Trustee, Sloan stole $710,319 from TelexFree victims. Earlier this month we reported Sloan had reached a settlement with the SEC. In light of that yet to be approved settlement, the Trustee and Sloan [Continue reading…]
There’s probably no group more salty in MLMÂ right now than TelexFree victims with approved claims. The TelexFree claim portal went live back in mid 2016. Almost three years later, not one distribution payment has been made. Now, a Status Report filed by the Trustee on April 12th, provides insight into why.
With the clocking ticking down towards her TelexFree trial, now news that Faith Sloan has reached a settlement with the SEC.
In a March 27th filing, the SEC has moved to voluntarily dismiss two claims of securities fraud against TelexFree defendant Faith Sloan.
Faith Sloan’s TelexFree trial looks set to be delayed for a second time. The first delay occurred due to President Trump’s government shutdown. Now a second delay looks likely due to Sloan’s attorney being hospitalized for medical complications.
As per an agreed settlement, Carlos Costa and his wife are set to surrender eight condominiums to the TelexFree Trustee.
Fabio Wanzeler, brother of TelexFree owner Carlos Wanzeler, is unhappy with his TelexFree settlement. The settlement saw Wanzeler surrender two properties to the TelexFree Trustee, to settle $633,578 Wanzeler received as a TelexFree net-winner. Wanzeler signed off on the settlement last November but now claims the Trustee added an addendum, which he never agreed to.
Faith Sloan, the last remaining TelexFree defendant, was scheduled to face trial on February 11th. The SEC allege Sloan stole over a million dollars from TelexFree victims. Unfortunately due to Donald Trump’s ongoing government shutdown, Sloan’s trial has now been delayed until the end of March.
Whereas Brazil can’t seem to convict anyone over TelexFree’s $3 billion in Ponzi fraud, regulators have managed to convict Carlos Costa for tax fraud. Costa is best known for being TelexFree’s Bagdad Bob. Even as authorities in the US and Brazil closed in on TelexFree, Costa, often sweating profusely, denied anything was amiss in regularly [Continue reading…]
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