TelexFree @ BehindMLM

Faith Sloan settles SEC’s $1.2 million TelexFree fraud case

With the clocking ticking down towards her TelexFree trial, now news that Faith Sloan has reached a settlement with the SEC.

SEC moves to drop securities fraud claims against Faith Sloan

In a March 27th filing, the SEC has moved to voluntarily dismiss two claims of securities fraud against TelexFree defendant Faith Sloan.

Sloan’s TelexFree trial delayed again due to attorney hospitalization

Faith Sloan’s TelexFree trial looks set to be delayed for a second time. The first delay occurred due to President Trump’s government shutdown. Now a second delay looks likely due to Sloan’s attorney being hospitalized for medical complications.

Eight TelexFree condos recovered from Carlos & Priscilla Costa

As per an agreed settlement, Carlos Costa and his wife are set to surrender eight condominiums to the TelexFree Trustee.

Fabio Wanzeler claims addendum added to his TelexFree settlement

Fabio Wanzeler, brother of TelexFree owner Carlos Wanzeler, is unhappy with his TelexFree settlement. The settlement saw Wanzeler surrender two properties to the TelexFree Trustee, to settle $633,578 Wanzeler received as a TelexFree net-winner. Wanzeler signed off on the settlement last November but now claims the Trustee added an addendum, which he never agreed to.

Faith Sloan’s TelexFree trial delayed till March 25th

Faith Sloan, the last remaining TelexFree defendant, was scheduled to face trial on February 11th. The SEC allege Sloan stole over a million dollars from TelexFree victims. Unfortunately due to Donald Trump’s ongoing government shutdown, Sloan’s trial has now been delayed until the end of March.

TelexFree’s Carlos Costa receives prison sentence for tax fraud

Whereas Brazil can’t seem to convict anyone over TelexFree’s $3 billion in Ponzi fraud, regulators have managed to convict Carlos Costa for tax fraud. Costa is best known for being TelexFree’s Bagdad Bob. Even as authorities in the US and Brazil closed in on TelexFree, Costa, often sweating profusely, denied anything was amiss in regularly [Continue reading…]

Faith Sloan quibbles over securities fraud, owes lawyer $50,000+

Ahead of Faith Sloan’s scheduled February 2019 TelexFree trial, the SEC filed for a $1.2 million partial summary judgment in late November. Sloan filed her response on December 7th, in which she makes four primary arguments;

Seventy-two TelexFree disallowed claims lists published

The good news TelexFree victims waiting for an update on allowed claims is you’re one step closer to distribution. The bad news is the latest update means payments probably won’t be going out this year.

The SEC’s delicious deposition of Faith Sloan

As part of their civil TelexFree case, on October 4th and November 5th the SEC deposed Faith Sloan. Whereas Sloan certainly isn’t the first prominent MLM underbelly figure to be deposed, what makes this deposition unique is that the SEC has made the entire transcript public. Sloan’s deposition provides revealing insight into the mind of [Continue reading…]