TelexFree @ BehindMLM

TelexFree victims to initially recover 40%, IRS claims resolved

Just under two weeks ago BehindMLM called out the TelexFree Trustee for failing to communicate with victims. Today the Trustee has finally provided an update on parallel IRS proceedings and distribution payments.

Linda & David Hackett settle TelexFree fraud for $455,000

Individually and through their D&L Trust, Linda and David Hackett stole over $1.2 million dollars from TelexFree victims. Over four years since clawback proceedings were filed against them, the Hacketts have settled with the TelexFree Trustee.

Zeek Rewards victim distributions top 81% recovery

The Zeek Rewards Receiver has provided an update on last partial distribution payments. In his April 20th update, the Receiver states:

IRS’ $429 million claim puts TelexFree victim payouts at risk

Although claim dispute filings continue to clog the TelexFree case docket, litigation between the Trustee and IRS is likely the reason no claim distributions have gone out. We’ve known about the IRS’ claims against the Trustee for a while, but today is the first time we examine the case and what it potentially means for [Continue reading…]

Carlos Wanzeler arrested in Brazil on US warrant

Just days after the Supreme Court rejected his citizenship appeal, Brazilian authorities have arrested Carlos Wanzeler. Things are moving far more quickly than anticipated.

Carlos Wanzeler loses citizenship appeal, extradition next

Carlos Wanzeler has lost his citizenship appeal, finally paving the way for extradition to the US.

Sann Rodrigues fled Brazil with help of Federal Police

Federal police have launched an investigation into how Sann Rodrigues managed to flee Brazil in 2015.

Carlos Wanzeler & Carlos Costa arrested in Brazil

After what feels like far too long, news today that TelexFree co-founders Carlos Wanzeler and Carlos Costa have been arrested in Brazil.

TelexFree funds used to purchase Florida apartments

Brazilian prosecutors allege Carlos Costa, co-founder of TelexFree Brazil, used investor funds to purchase ten apartments in Florida.

Major roadblock for TelexFree victim distributions removed

Unbeknown to me (and I imagine a fair for of you), the Plaintiff’s Interim Executive Committee (PIEC) and TelexFree Trustee have been at loggerheads over investment flow. Following two rulings that sided with the Trustee on the matter, now a First Circuit appeal decision has also followed suit.