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 Trustee.
In late 2016 the DOJ connected Fabio Wanzeler’s family home in Cape Delabra, Florida, to ill-gotten gains derived through TelexFree.
To that end the DOJ filed for and was awarded a restraining order against the property in February, 2017.
A few months later Fabio Wanzeler’s attorney would claim the house in question had nothing to do with TelexFree.
Wanzeler’s attorney argued
(Fabio) Wanzeler acquired the property through income he received as a partner in two telecommunications business with defendant Carlos Wanzeler.
The businesses were Common Cent’s Communication and Diskavontade.
These businesses are distinguishable from TelexFree, which was identified as a Ponzi scheme in the criminal complaint.
That appears to have been baloney (shocking!), as per a proposed settlement between Fabio, his wife Claudia and the TelexFree Trustee.
The submitted November 5th settlement pertains to the Cape Delabra property, as well as one in Coconut Creek.
Both properties were part of James Merrill’s plea agreement, which itself rebuked Wanzeler’s claim the Cape Delabra house had nothing to do with TelexFree.
Merrill admitted that the assets …, including the Cape Delabra Property, are subject to forfeiture on the grounds that they are property … derived from proceeds traceable to the commission of offenses charged in (his) indictment.
As per the stipulated settlement agreement;
1. The Wanzelers shall execute a deed transferring ownership of the San Mellina Drive Property (Coconut Creek) to the Chapter 11 Trustee; and
2. The Wanzelers shall obtain a mortgage against the Cape Delabra Property for a net payment int he amount of $250,000, which funds shall be paid to the Chapter 11 Trustee, in lieu of forfeiture of the Cape Delabra Property.
Approval of the settlement will resolve claims against Fabio Wanzeler by the TelexFree Trustee.
This is based on the Coconut Creek property having an estimated value
in the range of $500,000.
The United States is expected to recover $250,000 from the refinance of the Cape Delabra Property, which funds will be made available for payments to Participants.
The aggregate recovery from the Wanzelers, therefore, under the Stipulation is projected to be up to $700,000 or more.
These amounts equal or exceed the aggregate net winnings obtained by Fabio from involved in the TelexFree scheme, according to the books and records of TelexFree.
A decision on the proposed settlement between Fabio Wanzeler and the TelexFree Trustee is pending. Stay tuned…