TelexFree @ BehindMLM

A motion filed by the Trustee reveals around 29,000 TelexFree victims have still failed to provide payment information.

Fabio Wanzeler’s request that he not be recognized as a TelexFree net-winner, i.e. someone who scammed TelexFree victims out of money, has come to an end. On December 21st the US Bankruptcy Court in Massachusetts denied Wanzeler’s motion.

I haven’t really been paying attention to the TelexFree class-action case. Mostly due to figuring it wasn’t going to go anywhere competing against the SEC’s own civil case. Turns out maybe I should have been following along. On July 7th class plaintiffs entered into a $22.5 million dollar settlement with Fidelity Co-operative Bank.

Serial securities law offender Faith Sloan has confirmed CashFX Group is engaged in securities fraud. In doing so, she’s also confirmed repeated violation of her 2019 TelexFree final judgment.

Brazil’s Supreme Federal Court has ruled that Carlos Wanzeler will be extradited to the US. The extradition order was made during a hearing on the 21st, with a decision published on the 25th.

Like most of you we weren’t really sure why a January 13th, 2021 date for distribution payments was set. Turns out that was more of a deadline, following reports from multiple TelexFree victims of received payments.

Following an overwhelming majority vote in favor, the TelexFree liquidation plan has been approved.

Voting on the proposed TelexFree liquidation plan closed on June 30th. A published tally of the ballots reveals that TelexFree victims voted in support of the liquidation plan.

Earlier this year it emerged TelexFree scammer Sann Rodrigues fled Brazil with the aid of a lawyer and two former police officers. Rodrigues remains at large, however the attorney and one of the police officers involved were arrested back in February. The pair were released a day later and have been out on bail since. [Continue reading…]

TelexFree Brazil co-owners Carlos Wanzeler and Carlos Costa have been sentenced to twelve and a half years in prison. The pair have also been fined R$1 million ($183,698 USD) each.