More warrants issued in Brazilian TelexFree investigation
Operation Orion was launched by Brazilian Federal Police back in July.
The launch of the operation saw Brazilian regulators execute search warrants on multiple properties connected to TelexFree’s Brazilian operations (Ympactus).
As of yet the results of those raids are not clear, however it is understood that the “second phase” of Operation Orion is now underway.
This second phase saw another round of search warrants executed yesterday.
Four search warrants were executed in total, with the raids led by 20 federal police officers and 12 investigators with the Receita Federal (Brazilian IRS).
The targets were TelexFree’s Brazilian headquarters in Espírito Santo and three residential properties owned by individuals in the cities of Vitória and Vila Velha.
At the time of publication who owned the residential properites raided is not clear.
Globo contacted TelexFree lawyer Horst Fuchs for comment yesterday morning. Fuchs stated he was “out of town and had no knowledge of the operation”.
TelexFree owners Carlos Costa and Carlos Wanzeler, along with top TelexFree investor Sann Rodrigues are believed to be hiding out in Espírito Santo.
As of yet Carlos Costa has not been charged with anything, fellow TelexFree owner Carlos Wanzeler however is on the run from US regulators.
Sannderly Rodrigues meanwhile is currently being sued by the SEC and is the subject of an investigation by the Massachusetts Securities Division.
Update 25th October 2014 – Globo are reporting that the Federal Court in Brazil has frozen bank accounts and assets and ‘removed banking and tax privacy’ of one company and six individuals linked to TelexFree in Espírito Santo.
The request was made by federal prosecutors in the state (MPF-ES), as announced on Friday (24).
The measure was considered necessary because, during the first phase of Operation Orion , in July this year, were seized various documents and evidence that were seized revealed the involvement of new people in the TelexFree pyramid scheme.
The second phase of Operation Orion was held on Friday. The names of those involved in the latest enforcement action will not be released because the operation is in progress and the court order was filed under seal.
Hat tip to BehindMLM reader Diego.