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 have separately reached a clawback settlement.

As per her settlement with the TelexFree Trustee, Sloan will turn over all funds held in a Bank of America account. How much is in the account has not been disclosed.

Sloan’s lawyer will also turn over $30,000 being held in escrow.

Sloan’s settlement with the SEC remains pending, with details yet to be made public.

 

Update 1st May 2019 – Sloan’s settlement with the TelexFree Trustee was approved on April 30th.

The stipulated SEC settlement remains pending.

 

Update June 5th 2019 – On June 3rd a $778,455 final judgment order was filed against Sloan.