Faith Sloan’s TelexFree trial date set, Wanzeler proceedings stayed

32 Comments on “Faith Sloan’s TelexFree trial date set, Wanzeler proceedings stayed”

#1

Lynndel "Lynn" Edgington

Aug 22nd, 2018 at 4:08 pm  Lynndel "Lynn" Edgington(Q)

It’s about flipping time. I only hope they nail her for continuing to promote Ponzi’s after being told to stop it when her injunction was issued. Going to enjoy watching this trial.

I just wonder if she will try to play the racist, homophobic, bigot and sexist card? Wouldn’t put it past her, as she has tried just about everything else to avoid her trial.



#2

Scamalert

Aug 22nd, 2018 at 8:52 pm  Scamalert(Q)

FAITH SLONE: If you look up the definition of “Scumbag” “Fraudster” “Piece of Shit” in the dictionary, only one name comes up- Faith Slone.

We can only hope that the authorities put the nail in the coffin on this complete waste of a person.



#3

Godfrey Wasikye Wagalo

Aug 23rd, 2018 at 6:49 pm  Godfrey Wasikye Wagalo(Q)

This telexfree case is worth something forgetting?



#4

Oz

Aug 23rd, 2018 at 7:15 pm  Oz(Q)

Not really. Money recovered from net-winners will go into the pot that’s eventually distributed to victims.



#5

Hanou

Aug 24th, 2018 at 8:22 pm  Hanou(Q)

I just got an email from the trust with the amout that i will be recovering. It turn out that i will not get anything because my claim was duplicated.

In fact, there was two portail, one in 2016 and the other one in 2017 and i submitted my claim in both of them. My intitial investment was 15888$.

I just sent them an email, waiting for a response.



#6

Oz

Aug 24th, 2018 at 10:37 pm  Oz(Q)

Uh there was only ever one TelexFree claim portal from memory.

Sounds like someone else filed the same claim as you for the same amount (your upline?).



#7

Hamou

Aug 25th, 2018 at 12:16 am  Hamou(Q)

Actually, there were two claim portal that i ve put in for in case. Let s see what is going to happen.



#8

Oz

Aug 25th, 2018 at 6:54 am  Oz(Q)

No I’m pretty sure there was only ever one TelexFree claim portal. Having two makes no sense.

Hope you weren’t duped into providing details to scammers through a bogus portal.



#9

Gon

Aug 26th, 2018 at 1:50 am  Gon(Q)

Hello! Just wanted to know… where can i contact the portal in order to get news?

I sent the info to the legal portal (bmc group) but they only sent me the confirmation bur nothing else. Thank you guys for your support



#10

Oz

Aug 26th, 2018 at 7:24 am  Oz(Q)

TelexFree Trustee website is probably your best bet.



#11

Gon

Aug 26th, 2018 at 5:20 pm  Gon(Q)

Thank you for your inestimable work Oz.

Hamou, can you tell me on wich page did you ser your ePOC?

I did it on something called telexfreeclaims.com and the company in charge of it was bmc group.

I received an email confirmation with the correct amount on it but have not recerived anything else since then.

Can anyone help me if i did things right?



#12

hamou

Aug 27th, 2018 at 1:27 am  hamou(Q)

here is what i received on my email from (removed) with two attachments:

Dear TelexFree Claimant:

You are receiving this email because the Trustee has reviewed your Claim and has proposed allowing your Claim in an amount different from the amount set forth in the Claim that you filed. If you filed more than one Claim you may receive more than one email.

Attached are the following related to your TelexFree Claim:

Notice of Proposed Resolution of Claim in English, Spanish and Portuguese

Exhibits A and A-1 to the Notice of Proposed Resolution of Claim

The Notice of Proposed Resolution of Claim provides important information regarding the process for contesting the Trustee’s proposed claim resolution.

Exhibit A-1 identifies the amount of your Claim as filed, the proposed conditionally allowed amount of your Claim, and the specific objections that apply to the Claim.

For reference, the TelexFree claims register can be located at this link: (removed)



#13

hamou

Aug 27th, 2018 at 1:33 am  hamou(Q)

continued:

NOTICE OF PROPOSED RESOLUTION OF CLAIM

THIS NOTICE MAY AFFECT YOUR LEGAL RIGHTS. PLEASE READ IT CAREFULLY.

Dear TelexFree Claimant:

You are receiving this Notice of Proposed Resolution of Claim (“Notice”) because you purchased one or more membership or phone plans from TelexFree (thereby making you a “Participant” for purposes of these Procedures) and you filed one or more claims in the TelexFree bankruptcy cases.

The Trustee has reviewed the claim(s) and determined that there are certain deficiencies in your claim(s), and the Trustee has proposed allowance of the claim(s) in an amount different from the amount in the claim(s) that you filed.

Set forth below is a summary of the Trustee’s determination and your rights.

Stephen B. Darr, the Chapter 11 bankruptcy trustee (the “Trustee”) of TelexFree LLC, TelexFree Inc., and TelexFree Financial Inc. (together, “TelexFree”) has reviewed the claim(s) (the “Claim”) that you filed with the electronic claims portal (the “Portal”) hosted by the internet site telexfreeclaims.com.

Based upon this review, the Trustee has concluded that your Claim does not fully comply with the Net Equity formula1 as approved by the Court for one or more reasons and proposes an adjustment to the Claim.

Exhibit “A” to this Notice provides

1. The Net Equity formula provided for the following:

(i) in determining the amount of a Participant’s claim, any claim or portion of claim based upon accumulated credits in a Participant’s User Accounts as of the Petition Date shall be disallowed;

(ii) Participant Claims shall be computed as follows: the amount invested by the Participant into the Debtors’ scheme, including amounts paid pursuant to Triangular Transactions, less amounts received by the Participant from the Debtors’ scheme, including amounts received pursuant to Triangular Transactions;

(iii) In determining the amount of a claim of a Participant who has more than one User Account, the activity in all of the Participant’s User Accounts shall be aggregated and netted against one another.

2. a description of the types of objections that may apply and information or documentation that may assist in resolving the objections.

Exhibit “A-1” identifies the amount of your claim as filed (see “Amount of Claim Filed with Portal”), the proposed allowed amount of your Claim (see “Conditionally Allowed Amount of Claim”) and the specific objections that apply to each Claim.

Included as part of Exhibit A-1 is a schedule translating headings into English, Spanish, and Portuguese. A separate Exhibit A-1 is attached for each Claim.

THE “CONDITIONALLY ALLOWED AMOUNT OF CLAIM” AS SET FORTH ON EXHIBIT A-1 DOES NOT REPRESENT THE AMOUNT YOU WILL RECEIVE ON ACCOUNT OF YOUR CLAIM; IT REPRESENTS THE AMOUNT OF YOUR CLAIM THATMAY PARTICIPATE IN A DISTRIBUTION WITH OTHER ALLOWED PARTICIPANT CLAIMS.

THE AMOUNT THAT YOU ACTUALLY RECEIVE IN A DISTRIBUTION WILL BE BASED UPON THE TOTAL AMOUNT OF FUNDS THAT THE TRUSTEE HAS AVAILABLE TO DISTRIBUTE AS WELL AS THE TOTAL AMOUNT OF ALLOWED PARTICIPANT CLAIMS.

Your Right to Object.

The Trustee’s determination is based upon the Trustee’s current information and the information you submitted in your Claim. You have the right to object to this determination.

If you disagree with the proposed claim resolution, you must file a written response (a “Claim Response”) in the manner described below within thirty (30) days of the date of receipt of this Notice.

The Claim Response should NOT be filed with the Bankruptcy Court. It should be sent electronically to the Trustee at the following address:

(removed)

To object, you must:

(i) identify your Name and Claim Number as set forth above;

(ii) provide a statement of the reasons for your objection to this proposed claim resolution and match your statement to the specific Reference Numbers on Exhibit A-1;

(iii) submit copies of any documents that you rely upon that were not previously uploaded as part of your Claim; and

(iv) identify your Name and Claim number and how to contact you by telephone and electronic mail.

You should respond directly to the email message that is sent to you regarding your claim. If you are not replying directly to the email that you received, you must include your claim number in the subject line of your email.

Your response should be in English. If your response is sent in another language, you must provide with the Claim Response a certified translation into English prepared by an interpreter certified by the Administrative Office of the United States Courts.

If you submit a Claim Response within 30 days of the date of receipt of this Notice, the Trustee will review the information that you have provided and will take one of three actions:

(i) The Trustee may accept your response and allow your claim in the amount submitted through the Portal;

(ii) The Trustee may propose a different amount to be allowed as your claim; or

(iii) The Trustee may reject your explanation and documents and file a formal objection with the Bankruptcy Court. In such event, you will have an opportunity to file a response with the Court and have an opportunity to be heard.

If you fail to file a response to the Trustee’s formal objection with the Bankruptcy Court, the Trustee may request that the Court approve the Conditionally Allowed Amount of Claim.

If you do not file a timely Claim Response, the Trustee may request that the Court approve the Conditionally Allowed Amount of Claim.

If you Agree with the Proposed Resolution of Claim.

If you agree with this determination, you may either notify the Trustee at the electronic mail address listed above or take no further action.

If, at the conclusion of this process, you have an allowed Participant claim, you will be notified at the appropriate time when funds are available for distribution.

If you have additional claims that are not addressed in the attached exhibits, you will be notified at the appropriate time of the Trustee’s proposed disposition of such claims.

Respectfully Submitted,
STEPHEN B. DARR,
CHAPTER 11 TRUSTEE,
By his counsel,
Andrew G. Lizotte (BBO #559609)
MURPHY & KING, P.C.
One Beacon Street
Boston, MA 02108-3107



#14

Oz

Aug 27th, 2018 at 6:57 am  Oz(Q)

@Gon

I received an email confirmation with the correct amount on it but have not recerived anything else since then.

You’re waiting on the announcement of an initial distribution then. Most claimants are in this position.



#15

Oz

Aug 27th, 2018 at 7:26 am  Oz(Q)

@hamou

sounds like you (or your upline) filed multiple claims for the same amount, not that there are multiple claim portals.



#16

hamou

Aug 27th, 2018 at 9:24 am  hamou(Q)

and here is what i ve got on the second exhibit:

Amount of Claim Filed with Portal: $ xxxxxx

Conditionally Allowed Amount of Claim: None

Basis of Reduction in Claim: Duplicate

does it mean that iam not recovering anything since the Conditionally Allowed Amount of Claim is None???????

help.



#17

Oz

Aug 27th, 2018 at 9:29 am  Oz(Q)

Someone else has claimed your investment.

Did you invest in TelexFree by depositing your money directly with the company or did you pay your upline?

Alternatively if you filed more than one claim then the above only applies to the duplicate claim. The original claim should have a separate determination notice.



#18

hamou

Aug 27th, 2018 at 10:20 am  hamou(Q)

oh and i forgot to put this one:

The Trustee proposes to disallow this claim as being duplicative of claim(s):
xxxxxxxx-000 Filed: (xx/xx/2017)

as the first one was filed on 2016 but it s the same claim.



#19

Oz

Aug 27th, 2018 at 10:23 am  Oz(Q)

If you filed two separate claims they’re not the same claim they’re two separate claims.

If the 2017 claim is still valid then you’ll have a determination on that. That’s the valid claim.

If you didn’t file the 2017 claim then your upline is trying to steal your money.



#20

Hamou

Aug 27th, 2018 at 7:17 pm  Hamou(Q)

Got it, thank you Oz for ur help.



#21

andrew

Aug 28th, 2018 at 12:37 am  andrew(Q)

youre getting objected because you filed two claims. if you have only recieved one objection, then do not respond. since that means the other claim is approved and not getting objected. so the one objected just let it run its course.

hamou: does it mean that iam not recovering anything since the Conditionally Allowed Amount of Claim is None???????



#22

Gon

Aug 28th, 2018 at 5:59 am  Gon(Q)

Thanks to this page and thank you Oz for your help, this page has been the greatest way of getting information of this case, thx thx thx!!!



#23

Xorly

Aug 28th, 2018 at 8:59 am  Xorly(Q)

Wow, having lurked here instead of being active for the last few years, it is amazing to see her finally have to face justice.



#24

Godfrey Wasikye Wagalo

Aug 29th, 2018 at 2:53 pm  Godfrey Wasikye Wagalo(Q)

Oz,

Faith Sloan’s issues with the SEC and court are of a criminal nature which does not affect the process of distribution to the claimants! If so why is it that the distribution isn’t taking off?

Secondly how did you come to know about claimants exact claims yet this is supposed to be confidential?



#25

Oz

Aug 29th, 2018 at 3:02 pm  Oz(Q)

Faith Sloan’s issues with the SEC and court are of a criminal nature

No they’re not. The SEC doesn’t file criminal lawsuits.

If so why is it that the distribution isn’t taking off?

Because TelexFree was a massive Ponzi scheme and processing hundreds of thousands of claims and subsequent disputes takes a ton of time.

If you want anything further than that you’ll have to take it up with the Trustee.

Secondly how did you come to know about claimants exact claims yet this is supposed to be confidential?

I didn’t. No idea where you got that from.



#26

Oz

Sep 12th, 2018 at 12:47 pm  Oz(Q)

Article updated with granting of Wanzeler proceedings stay.



#27

Godfrey Wagalo Wasikye

Sep 20th, 2018 at 4:52 pm  Godfrey Wagalo Wasikye(Q)

oZ YOU ARE QUEIT THESE DAYS WHAT’S COOKING WITH TELEXFREE?



#28

Oz

Sep 20th, 2018 at 6:03 pm  Oz(Q)

Not much. Victims are waiting on the Trustee to initiate the first distribution.

I check the TelexFree case docket monthly. If there’s nothing to report on there’s nothing to report on.



#29

Godfrey Wagalo Wasikye

Sep 24th, 2018 at 3:34 pm  Godfrey Wagalo Wasikye(Q)

Oz Thank you!

Godfrey



#30

Godfrey Wagalo Wasikye

Sep 24th, 2018 at 3:35 pm  Godfrey Wagalo Wasikye(Q)

the only beneficiaries hopefully waiting for the distribution should be the victims since people handling the receivership seem to have been paid!



#31

Oz

Nov 10th, 2018 at 7:21 am  Oz(Q)

Faith Sloan was scheduled for deposition by the SEC on October 25th.

That same day however her attorney was admitted to hospital for 24 hrs.

Might be some slight delays. Would love to be a fly on the wall for Sloan’s deposition though.



#32

Igor Shikhman

Dec 9th, 2018 at 4:45 am  Igor Shikhman(Q)

Oz. if YOU have any news with the trustee money distribution, please, let us know.