All but cementing any doubt it wasn’t a $3.6 billion dollar Ponzi scheme, on September 28th Judge Gorton ordered Final Judgment against TelexFree and TelexFree LLC.

Procedurally the ruling is more ceremonial than anything, as TelexFree and TelexFree LLC don’t exist outside of the Receivership at this point.

Co-owner James Merrill has been imprisoned. Carlos Wanzeler fled to Brazil where he remains a fugitive, although efforts to repatriate him appear to be underway.

Judge Gorton’s ruling acknowledges TelexFree’s appearance in the case, consent to jurisdiction and violations of the Securities Exchange Act.

The order prohibits any further violations, which as I stated is largely ceremonial seeing as TelexFree doesn’t exist.

Still, Judge Gorton’s Final Judgment order is an important step towards wrapping up the SEC’s case, filed all the way back in April 2014.

The SEC’s lawsuit named TelexFree Inc., TelexFree LLC, James Merrill, Carlos Wanzeler, Steven Labriola, Joseph Craft, Sanderley Rodrigues, Santiago De La Rosa, Randy Crosby and Faith Sloan as defendants.

Of the defendant parties, only Carlos Wanzeler and Faith Sloan remain to be dealt with.

Civil proceedings against Wanzeler have been stayed pending the conclusion of the DOJ’s parallel criminal case.

Faith Sloan’s TelexFree trial date has been scheduled for February 4th, 2019.