TelexFree @ BehindMLM

Since it was founded in 2006, Liberty Reserve was a widely used ewallet payment processor for a multitude of MLM companies. On their website, the payment processor professed it was the oldest, safest and most popular payment processor … serving millions all around a world. And indeed Liberty Reserve was just that, until it was shutdown [Continue reading…]

Following weeks of commission delays for non-Brazilian TelexFree affiliates just over a moth ago, ewallet provider Global Payroll Gateway (GPG) abruptly announced that they could ‘no longer support TelexFree‘. The announcement was made in mid September, with GPG informing TelexFree’s affiliates that International Payout Systems (i-Payout) would be taking over the supply of ewallet services [Continue reading…]

Brazilian regulators are currently on fire in their handling of both the TelexFree and BBOM Ponzi scheme fraud cases. Setting an example that India and other countries drowning in Ponzi and pyramid scheme fraud would do well to follow, Monday firstly saw TelexFree denied their bankruptcy protection application and then on Tuesday, the uncovering of a fresh [Continue reading…]

If the injunction continues TelexFree may enter into bankruptcy. Should the company spend a few more days being prohibited from signing up new investors, they would have no money to pay the old ones. -Djacir Falcão, one of TelexFree’s lawyers explaining on July 10th why the Acre injunction should be lifted News broke yesterday on [Continue reading…]

No doubt frustrated at the amount of legal setbacks the company has experienced in Brazil’s courts, TelexFree today announced that they were initiating legal action against the media company Globo. Globo, who have been diligently reporting on TelexFree’s ongoing legal failures over the past few months through their online news portal “G1”, are the largest [Continue reading…]

With TelexFree themselves seemingly having exhausted their injunction appeal options over no less than thirteen separate appeals, all unanimously denied, the company’s affiliates have taken up the slack in the hope that they can convince a judge to lift the Acre injunction. The Acre injunction, granted to Public Prosecutors back in June, prohibits TelexFree from [Continue reading…]

In yet another blow to TelexFree’s non-Brazilian operations, today Global Payroll Gateway announced that they were dropping the company. Global Payroll Gateway’s announcement comes on the back of weeks of commission delays for TelexFree’s affiliates, with the company itself failing to pay affiliates for close to a month now.

Another week, another TelexFree appeal rejected by the courts of Brazil. Shortly after TelexFree’s twelfth appeal was denied in the Acre Superior Court in late August, TelexFree rushed off to the Supreme Court to file for a Preventative Action preliminary injunction against the existing Acre Public Prosecutor’s injunction against the company. Having initially failed to [Continue reading…]

As Federal Prosecutors in Brazil contemplate whether or not they’re going to arrest and charge TelexFree’s top net winners with ‘counts of embezzlement and money laundering’, the US side of the company is now reeling from ‘rampant global credit card fraud’ and the effect it has had on their US banking channels. On September 5th, [Continue reading…]

Following the business crippling injunction won against TelexFree, Public Prosecutors in Acre have followed up with a civil lawsuit filed against the company. Alleging that TelexFree is a Ponzi scheme, the case was filed in the 2nd Civil Court of Rio Branco and is being heard by Judge Thais Borges. As is required when all [Continue reading…]