TelexFree @ BehindMLM

Last we checked in Sanderley Rodrigues was scheduled in for an initial appearance hearing on the first of June. Rodrigues was arrested early last month for visa fraud, with a hearing on the 21st of May seeing him released on a $200,000 bail. After nearly a fortnight out on bail, the hearing on the first [Continue reading…]

Prior to its release, Carlos Costa and the rest of the TelexFree troupe were confident the court-ordered Ernst & Young audit would prove TelexFree wasn’t a $1.8 billion dollar Ponzi scheme. After a series of delays, the audit finally dropped earlier this year in February. After months of independent investigation and poring over TelexFree data, [Continue reading…]

Hopes that the TelexFree criminal trial might get underway in June were optimistic, with production and analysis of discovery continuing to delay scheduling. The latest rescheduling motion will now see the next status conference take place in August. But that’s not to say things haven’t progressed.

Last we heard the DOJ had filed a request for an extension to oppose fee applications filed by Murphy and King and Mesirow Financial Consulting. Both firms have been assisting Stephen Darr with his duties as court-appointed Trustee in the TelexFree bankruptcy case. What became of the DOJ’s objections is unclear, including whether or not they were [Continue reading…]

For fraudulently obtaining an American green card and then using said green card to re-enter the US, Sann Rodrigues was arrested on May 16th. After noticing that Rodrigues had been released from the New Jersey state prison he was being held in yesterday, we wondered if he’d been released or was perhaps being transferred to [Continue reading…]

My email inbox blew up overnight with news of Sanderley Rodrigues arrest in New Jersey. Details were sketchy, but it appears Rodrigues was picked up on May 18th and is currently being held in a state prison. Now I know what you’re thinking (because I was thinking it too), but Rodrigues’ arrest doesn’t appear to [Continue reading…]

As the $1.8 billion dollar Ponzi scheme TelexFree created financial havoc around the world, one of the prominent recruitment hotspots to emerge was the Dominican Republic. One of the ringleaders driving the recruitment of new TelexFree investors was Jorge Mercedes Cedeño, a pastor at a Dominican Protestant church. Following the arrest of Cedeño in connection to laundering funds for [Continue reading…]

Following the suspension of e-wallet services by iPayout and a pyramid scheme case filed by the SEC, April 17th 2014 marks the date the TelexFree Ponzi scheme was shut down. A billion dollars in losses to investors, one owner hiding out in the US and concurrent civil and criminal trials still making their way through [Continue reading…]

Potentially bad news today as the massive scope of the TelexFree Ponzi scheme continues to cause issues with scheduling. Despite massive amounts of data being sorted through and made available, there’s still sizeable quantities of data either going through the process of production or waiting to be produced.

There is evidence that the activities of Telexfree have characteristics of a financial pyramid. -Ernst & Young report on TelexFree, February 2015 That an average person would agree that the above statement is conclusive is a given, but not TelexFree’s lawyers. Despite the detailed reasoning behind E&Y’s conclusion (based on information TelexFree had provided the [Continue reading…]