TelexFree @ BehindMLM

Any notion that we’d be in for a quiet few days before the giant May 2nd hearing were dashed when I woke up to see some twenty something new filings had been made. As the flurry of objections and motions being filed continues against the backdrop of the operators of a $1 billion Ponzi scheme [Continue reading…]

The big news on the 30th was the granting of a preliminary injunction against TelexFree top pimps Santiago De La Rosa and Randy Crosby. In addition to this order, which was handed down in Massachusetts, several other filings were made in the Nevada bankruptcy court. As at the 30th of April 2014, here’s where we’re [Continue reading…]

A sign of what’s to come on May 2nd? Following a hearing on April 25th and despite responses being filed in protest by both Randy Crosby and Santiago De La Rosa, on the 30th of April the Massachusetts District Court granted a preliminary injunction against the two. Relying on TelexFree’s business model and evidence collected [Continue reading…]

As we barrel towards the May 2nd showdown in the Nevada bankruptcy court, two additional filings were made on Monday the 29th. Also of note was a new cease and desist issued in the US state of Montana.

The 25th saw the hearing in Massachusetts for a preliminary injunction against TelexFree Faith Sloan, Santiago De La Rosa, Randy Crosby, Sann Rodrigues and Steve Labriola. Further objections and notices were also filed in the Nevada Chapter 11 bankruptcy case too. As of April 25th, here’s where we’re at.

There has been a whole bunch of stuff filed in the last 48 hours and, rather than write separate updates for each motion and ruling, I figured it’d be of more use to provide a summary of TelexFree’s current legal status. Last we checked in the SEC had filed a motion requesting TelexFree’s bankruptcy application be [Continue reading…]

According to the SEC vs. TelexFree case docket, on the 23rd of April TelexFree filed an emergency motion seeking to delay the hearing for the permanent injunction. The company sought to set a new date for the hearing on May 5th, with the temporary restraining order to remain in place until then. The reason cited [Continue reading…]

Reymundo Torres: once the company comes back everybody is going to receive their money. -snippet of a TelexFree social media discussion, published 6 hours ago Although it’s sort of died down, one of the more persistent assertions TelexFree affiliates are making is that the company is flush with cash. The picture painted is that TelexFree would easily [Continue reading…]

Just like their “European office” in London, TelexFree’s presence in Nevada constitutes nothing more than a smoke and mirrors cover for the scheme. Identified by the SEC as being nothing more than a “rent-a-space office in Las Vegas”, TelexFree ‘transacts virtually no business in the state, other than the recruitment of participants in the scheme‘. [Continue reading…]

The Unites States Trustee program is a component of the Department of Justice responsible for overseeing the administration of bankruptcy cases and private trustees. Under the party name “US Trustee”, the DoJ has now filed what is the first major opposition to TelexFree’s bankruptcy proceeding. The DoJ’s motion to appoint a “Chapter 11 trustee” addresses the [Continue reading…]