Faith Sloan’s motion for $15,800 to pay lawyer & rent denied
The spectacle of the battle between one of the industry’s most prolific Ponzi pimps and the SEC continues.
Hat in hand and convinced that, despite her determination to flout recent court orders against her, Faith Sloan approached the Massachusetts District and demanded $15,800 in frozen funds be made available to her.
Sloan argued that, despite sinking $18,884 into another Ponzi scheme less than two months prior, without the $15,800 she’d have no money to live on or pay her rent and attorney.
Additionally, the Judge hearing the case ruled on May 7th that “no carve-outs” (of money) would be issued to defendants who did not comply with orders to declare their assets to the SEC.
Without even so much as an explanation, yesterday saw Sloan’s request wholly denied. On a photocopied page from Sloan’s original request, the words “motion denied” are scribbled along with Judge Gorton’s signature.
With Sloan continuing to ignore asset freeze orders and put up a “I knew nothing!” defense, despite mountains of evidence to the contrary (including an exhaustive online history of MLM Ponzi and pyramid scheme promotion), Sloan’s defeats in court are likely to continue.
Whether Sloan has since declared her assets to the SEC as the court ordered back on May 7th is unclear (last we heard she was “considering it“). However Gorton’s denial of her motion suggests she hasn’t.
Sloan has thousands of dollars in undeclared funds stashed away in Chinese bank accounts. Along with defeating the SEC case against her, Sloan’s actions indicate she’s hoping to come out the other side of TelexFree litigation with the funds she’s hidden offshore intact.
Along with other co-defendants who have filed similar “we made $100,000s, didn’t sell any VOIP but had no idea it was a Ponzi scheme” defenses, Sloan now waits for her Motion to Dismiss the SEC’s case against her to be ruled on.
Footnote: Our thanks to Don @ ASDUpdates for providing a copy of Judge Gorton’s order.
Dear god, she is starving.. Let’s create a crowdfunding to help her! This judge is a bad person 😀
her hard work was central for the luck wanzeler’s fortune accumulation. Someone should notify him that she is struggling and on the poor’s house. He may wire her some funds, she wouldn’t have to humiliate herself at the court.
but this bastard should give him the electric chair, and instead she even asks for money to the authorities.
merryl came out of jail by paying the bail, but america has become a corrupt system? that scchifo, cheers gl ischemic ponzi then let them all, so if we get caught we do not do anything.
Surprised she’s not asking the judge to release extra funds for a hair cut and a bigger bowl.
Although James Merrill is freed on bail, he faces serious Federal charges and if convicted, a long time in prison. Not sure what country you are from, but people here are presumed innocent until proven guilty in a court of law.
Merrill also has some very stringent conditions while out on bail. The innocent presumption is how the court of law works, not the court of public opinion. We are in the court of public opinion.
This is not an execution crime, but he could easily spend the rest of his life in prison, and that’s where he belongs, in my “court of public opinion” opinion.
Yeah she needs money..LOL..she posted to twitter that she is having fancy meals and drinks..she skyped me before and said she was making 100K a month with telexfree. She has plenty of money hidden…what a joke
Rant, if you have any of those communications, I suggest you forward them to the authorities. If you need any help doing that, I can help you, thanks.
I dont know if I can get it she deleted me after I would not join..I will check
Oh my mistake…LOL. It 60K
the date saturday oct 26 2013
From “The Only” Faith Sloan:
Some of that money went into that house she bought. Wonder how much is left. Obviously >$100,000 or so.
Sloany doesn’t want to give up that retirement fund…
That is perfect. Do you need any help getting that information to the authorities?
The authorities probably have plenty of those..yes I bet she has at least a million stashed away…they will see all the payments in court she got from the ponzi
I wouldn’t leave anything to chance. Is the above communication from Faith open to public view?
It is a skype message to me..she deleted all public view evidence..LOL
This is why we need to get the information in the hands of the authorities, so they can use it in their lawsuit.
Well they know she was recruiting and making a ton of money..I took a snapshot of the message…now what?
That’s excellent. I’ll look into where to send it.
Frank Huffington is the lead SEC attorney. He is in the Boston office. He has been signing the Replies and Oppositions to Sloan’s Motions.
it will Rant. sends there. all help
Time f sloan to pay the piper.
Thanks for the assist, hoss.
Speaking of TelexFree, Merrill filed some documents wanting some of that frozen money released so he can pay his lawyers.
He *may* have a case there, as his cleaning business and such are frozen too. Guess he’ll have to explain why money related to those are not “contaminated” by TF money.
I’m just putting together a report on that now :). Was a bit slow getting into gear today (local weather has been kicking my arse lately).
Looks like Faith and Crosby are back in action with the RE money game … Smh
Looks like Faith got approved for a bank account not subject to the injunction where she can deposit earnings not related to TelexFree.
Unfortunately, this could mean monies that are from the thousands of other schemes she is/was involved with.
I haven’t looked at Faith Sloan’s case in the last few weeks, since June or something. She has most likely provided SOME information directly to the SEC showing a legitimate source of income, just like all the others have done (Craft, Labriola, Crosby, De la Rosa, maybe Sann Rodrigues too).
It doesn’t need to be money from employment, it can be of any type of legitimate supply of money (e.g. monthly payments from a family member will probably be accepted as “legitimate source”). Child support is normally exempt from freeze orders.
The others agreed to deliver monthly bank reports to SEC showing the transactions. That should prevent “money to or from illegitimate sources” (in theory).
The idea of “justice”
A court will provide “fair trials” (due process). That’s basically the only type of justice a court can provide. It will not provide exact “reflections” of the ideas people in general have about justice.
If your idea of justice is something similar to “prosecuting and sentencing criminal and civil wrong-doers, and resolve legal disputes”, that idea will be about a different type of justice. It will be a “half truth” = it’s partly true but it doesn’t tell the whole truth.
It’s how most people see a court, but the most important factor is missing. “Fair trial” may sometimes lead to quite opposite results than what people in general want to believe in.
As I understand it, the preliminary injunction froze all assets in Sloan’s possession. This made it difficult for her to take money in and out of bank accounts.
And, as the SEC pointed out, Sloan was already in violation of the injuction because she was making bank transactions in relation to Lucrazon and Changes Worldwide.
However, now that she has been approved to have a bank account for “legitimate sources” of income (perhaps she landed a job or something), I don’t know what’s stopping her from openly resuming her MLM activity with Lucrazon, Changes Worldwide, and others.
While it is obvious to us that the majority of MLMs are shady (if not outright frauds) and that Sloan is a serial scam artist, it must be noted that the MLM’s that Sloan deals with have unfortunately not been indicted or even officially accused by authorities of being fradulent.