TelexFree @ BehindMLM

On June 13th 2013, Acre’s Public Prosecutors were granted an injunction against TelexFree. Amongst other things, this injunction saw TelexFree face fines of R$100,000 a day ($42,500 USD) if they signed up any more Brazilian affiliate investors or paid out any existing ones. Since then it’s been an open secret that top Brazilian affiliates have [Continue reading…]

Over the last few days a veritable sea of information has been released pertaining to TelexFree’s sponsorship of the Bazillian football club, Botafogo. Patrick Pretty’s covered the Botafogo story and subsequent fallout with their main sponsor, Viton 44. This morning the latest on the Botafogo story comes from Alessandra Marques, of the Acre Public Prosecutor’s Office: [Continue reading…]

With every motion TelexFree has filed in Acre being dismissed or denied and a Judge now sifting through thousands of pages of evidence, things appear to be getting increasingly desperate. Appearing to have learnt nothing after recently being fined for wasting the court’s time, TelexFree latest hair-brained ploy continues the company’s tradition of ill-advised legal [Continue reading…]

There’s been somewhat of an ongoing dance taking place between TelexFree and the Brazilian court system. TelexFree will typically make an announcement either on Facebook or YouTube about how they will undoubtedly crush anyone who opposes them with some new legal angle they are sure cannot fail. After the courts bitchslap the company back into [Continue reading…]

Due to ongoing coverage of some the biggest Ponzi schemes that operate within the MLM industry, here at BehindMLM one of the more common questions we get is “why aren’t the authorities doing anything?” Some affiliate investors in such schemes even go so far as to use a lack of regulatory intervention as “proof” of [Continue reading…]

Launched some weeks ago but only made pubic recently, Brazilian media are reporting that regulators in the Dominican Republic have launched an investigation into TelexFree. Following suspicions by the Technology Crimes Division of the Attorney General that TelexFree is operating a Ponzi scheme, TelexFree’s local activities have been investigated for ‘about a month‘.

Following in the footsteps of Colombia, who in late November suspended local WCM777 operations and launched a criminal investigation into the company, Peru’s Superintendency of Banking and Insurance (SBS) have today banned WCM777 from operating in the country. Also caught up in the regulator’s announcement is TelexFree, with the SBS warning the Peruvian public that [Continue reading…]

Back when they were busy lying to the Supreme Court of India, Speak Asia planted the idea that if it was allowed to refund investors who hadn’t yet received a >100% ROI, that the authorities would permit the company to “restart operations”. To this day there are Speak Asia investors who truly believe this is [Continue reading…]

Fourteen, fifteen, sixteen appeals rejected – I’ve lost count of the exact number of times TelexFree have had their various appeals dismissed, but I’m starting to think they found their lawyers in one of those 20 cent skill-based claw machines. TelexFree’s latest appeal was filed in the Superior Court and appears to be an objection [Continue reading…]

With Acre’s Public Prosecutors rejecting Carlos Costa’s mediation proposals late last week, it fell on Judge Thais Khalil to go over the proposals and make a decision. Khalil’s decision was handed down yesterday in the shadow of Carlos Costa running all over Brazil to declare “god used him” to create TelexFree and that “nobody will [Continue reading…]