TelexFree @ BehindMLM

Following a ruling late last year certifying TelexFree a Ponzi scheme in Brazil, things have been pretty quiet down there. From filings in the US cases, we know that Brazilian and US authorities are cooperating behind the scenes with their various investigations. One of the Brazilian agencies investigating TelexFree is the IRS, who claim TelexFree’s owners owe [Continue reading…]

The SEC has filed an opposition to Faith Sloan’s request for $30,800. In their April 4th filing, the SEC claim Sloan filed a virtually identical motion on June 10, 2014. The Court denied that motion on June 25, 2014. The Court should deny Sloan’s recycled motion as well. The motion in question saw Sloan request $15,800 because [Continue reading…]

Can you file an April Fool’s motion with a United States court? As far back as I can remember, defendants in Ponzi scheme litigation have always had to prove seized and/or frozen funds were not related to financial fraud. TelexFree investor Daniil Shoyfer provides the latest example of this. In a filing January 2016 filing, [Continue reading…]

Following a hearing on March 17th, Sann Rodrigues looks set to be released from jail. Rodrigues has been incarcerated for contempt since January, after he repeatedly failed to adhere to the terms of a previously granted preliminary injunction. Thos breaches have resulted in Rodrigues now owing the SEC $474,503. The March 17th order to release Rodrigues was [Continue reading…]

Sann Rodrigues is currently sitting in jail because, among other things, he claims “an inability to pay” $474,503 in improperly transferred assets back to the SEC. According to the SEC, Rodrigues has likely stashed millions of dollars overseas. Not only that, but over the past six months Rodrigues has continued to liquidate assets – even [Continue reading…]

A few days ago Sann Rodrigues filed a motion requesting he be released from jail. Late last year Rodrigues was found to be in contempt and is currently being held at Florida’s Pinellas County Jail. Rodrigues motion claims that it is impossible for him to pay the $474,503 he’s accused of dissipating. The SEC argue otherwise, with hints [Continue reading…]

Incarcerated for contempt, Sann Rodrigues has spent the past twenty-seven days as an inmate at Pinellas County Jail. Entirely his own doing, nonetheless Rodrigues appears to be desperate to get out. How desperate? The latest filing by Rodrigues suggests the former Ferrari owner is entertaining working at a trucking company.

Despite vehement objection from former TelexFree affiliate Daniil Shoyfer, a preliminary injunction was granted against him on February 12th. Scott Miller was also named in the injunction however, until Shoyfer, he offered up no opposition.

When TelexFree sought to circumvent regulators by filing for bankruptcy, no doubt James Merrill and Carlos Wanzeler thought the move was genius. Run up a three billion dollar Ponzi scheme and then, when the money runs out, use the bankruptcy courts to wipe the slate clean. Well, sort of. Turns out filing for bankruptcy has come [Continue reading…]

Following the granting of a new Temporary Restraining Order that included Daniil Shoyfer, Shoyfer filed an objection against the granting of a preliminary injunction. Equating the plaintiffs to “thieves in the night”, Shoyfer (right) asserts they have offered not a single document, not a single affidavit and, indeed, not a single supported allegation which would justify [Continue reading…]