TelexFree @ BehindMLM

TelexFree class-action enters fifth amended complaint phase

On December 30th the TelexFree class-action plaintiffs filed their fifth amended complaint. I didn’t cover it because the only change was a bunch of defendants were added – most of which are banks and payment processors. The complaint itself has blown out to two hundred and eighty-four pages. As a result of this the TelexFree [Continue reading…]


TelexFree “victims” to challenge company’s records

Eighteen TelexFree “victims” have won the right to “challenge the accuracy of TelexFree’s records”. It’s a bit of an odd decision, seeing as the “victims” have had plenty of time to prove their claims.


Claim for 67 TelexFree accounts denied, investor not happy

On June 4th Abel D. Santana wrote to the court regarding a “fraudulent claim”. Santana identifies himself as a “TelexFree creditor” and wrote to the court to request


Daniil Shoyfer dismissed from TelexFree class-action

Daniil Shoyfer has been dismissed from the TelexFree class-action. The dismissal was ordered per a judgment of dismissal filed on June 9th.


Injunction denied against Sparman & Vantage Payments

The TelexFree class-action Plaintiffs have failed to secure a preliminary injunction against Dustin Sparman and Vantage Payments.


Injunction sought against Dustin Sparman & Vantage Payments

The TelexFree class-action plaintiffs are seeking a preliminary injunction against Dustin Sparman and Vantage Payments. The TelexFree class-action plaintiffs allege Sparman and Vantage Payments ‘played an instrumental role’ in the operation of TelexFree.


TelexFree class-action Fidelity Bank settlement approved

A proposed $22.5 million dollar settlement with Fidelity Bank has been approved. As part of a class-action against multiple defendants, plaintiffs reached a settlement agreement with Fidelity in July 2020.


29,000 TelexFree victims have still not filed payment info

A motion filed by the Trustee reveals around 29,000 TelexFree victims have still failed to provide payment information.


Court confirms Fabio Wanzeler a TelexFree Ponzi scammer

Fabio Wanzeler’s request that he not be recognized as a TelexFree net-winner, i.e. someone who scammed TelexFree victims out of money, has come to an end. On December 21st the US Bankruptcy Court in Massachusetts denied Wanzeler’s motion.


TelexFree class-action touts $22.5M Fidelity Bank settlement

I haven’t really been paying attention to the TelexFree class-action case. Mostly due to figuring it wasn’t going to go anywhere competing against the SEC’s own civil case. Turns out maybe I should have been following along. On July 7th class plaintiffs entered into a $22.5 million dollar settlement with Fidelity Co-operative Bank.