TelexFree @ BehindMLM

On the eve of Judge Landis’ decision that will decide whether Ponzi schemes are able to claim bankruptcy protection, lawyers acting on behalf of TelexFree affiliates have filed a class-action lawsuit in Nevada. Filed on the 3rd of May in the Nevada Bankruptcy court, the class-action names TelexFree, its management, top promoters, legal and advisers, [Continue reading…]

As Jordan Maglich’s cell phone battery began to die, we wound up BehindMLM’s eight-hour coverage of the May 2nd bankruptcy proceedings. Absolute kudos to PonziTracker and Maglich, who wound up being the primary source of information coming out of the courtroom after repeated warnings against streaming the session shut down any alternatives. I know I was [Continue reading…]

Our thanks to PonziTracker for live updates on what’s going on inside the court room as the TelexFree bankruptcy hearing takes place. Note that additional sources/reporting may appear below.

As per the court-issued schedule, here is the list of fourteen motions, applications and objections to be heard today in the TelexFree bankruptcy case.

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…]