TelexFree @ BehindMLM

Last we checked in back in April, a defense lawyer was attempting to delay criminal TelexFree proceedings till June next year. Two of TelexFree’s founders, James Merrill and Carlos Wanzeler, stand accused of operating a $1.8 billion dollar Ponzi scheme. We’re not sure whose lawyer requested the delay, but we do now have a definitive [Continue reading…]

Accusing him of making a mockery of an asset-freeze currently in place, last month the SEC requested Sann Rodrigues be sent back to jail for contempt. Rodrigues filed his response last Friday and, among other things, is now claiming he doesn’t speak English…

When multiple financial institutions began shutting down TelexFree’s banking accounts, Jim Merrill turned to his brother, John Merrill. As President of Fidelity Cooperative Bank, John Merrill was certainly in a position to help his brother. And help him he did, with TelexFree granted permission to open three bank accounts with Fidelity in 2013. After regulators shut [Continue reading…]

Sann Rodrigues arraignment hearing was held yesterday, with the top TelexFree Ponzi pimp pleading not guilty to visa fraud.

There hasn’t been much news out of Brazil this year regarding the TelexFree Ponzi case. Earlier this year the court-ordered expertise from independent auditor Ernst & Young was filed, citing evidence that revealed TelexFree was a Ponzi scheme. TelexFree immediately tried to bury the report, but failed. Judge Thais Borges later remarked the report was “conclusive” enough for [Continue reading…]

A settlement with Fidelity Cooperative Bank has seen some $2.9 million returned to TelexFree investors. The investors in question are from Massachusetts, with the $2.9 million figure carved out of a $3.5 million dollar settlement.

Last year when the SEC moved to shut down TelexFree, Sanderley Rodrigues was hit with a temporary restraining order. This was later converted into a preliminary injunction, which saw Rodrigues barred from committing acts of fraud. What Rodrigues thought a ban on acts of fraud meant is unclear, but soon enough Rodrigues was back to [Continue reading…]

Following the posting of $200,000 bail in Sanderley Rodrigues’ visa fraud case, there was a bit of speculation as to where the funds had originated. For his part in defrauding investors through TelexFree, Rodrigues is currently subject to an asset-freezing injunction. Through filings made in the SEC’s civil case against TelexFree and Rodrigues, we can now [Continue reading…]

Sanderley Rodrigues de Vasconcelos is not having a good year. Rodrigues (who goes by “Sann”), the top net-winner in the TelexFree Ponzi scheme, was arrested back in May on visa fraud charges. He a defendant in the subject of an SEC civil lawsuit against Telexfree, purported to have defrauded investors of $1.8 billion. In Brazil Rodrigues [Continue reading…]

Earlier this week Sanderley Rodrigues was released on strict home detention conditions, following clarification that Brazilian authorities were not looking to extradite him. This suggested that perhaps there was an issue with the investigation behind the Brazilian arrest warrant. Clarification from Brazilian authorities however now clarifies the reason a formal extradition request was not submitted.