TelexFree criminal case to be delayed until June?
Potentially bad news today as the massive scope of the TelexFree Ponzi scheme continues to cause issues with scheduling.
Despite massive amounts of data being sorted through and made available, there’s still sizeable quantities of data either going through the process of production or waiting to be produced.
Of primary concern are ‘data from email accounts and a cloud-based service‘ and
recordings made by undercover U.S. Homeland Security agents at a TelexFree conference and in conversation with a TelexFree participant.
An audit report of TelexFree’s Brazilian operations by Ernst & Young is also being translated from Portuguese.
Based on local media reports, the report concludes that ‘the activities of Telexfree has characteristics of a financial pyramid’.
The report has yet to be made public.
As per the Telegram;
The list of materials was contained in a motion filed last week by prosecutors and one defense lawyer (is) seeking to postpone a status conference set for Monday.
Whether the lawyer is representing James Merril or Carlos Wanzeler is unclear. What is clear however is that, if they get their way, the criminal case will be postponed until sometime in June.
That sets us back another two months, assuming the data in question is able to be produced within the proposed timeframe.
If it’s still pending, we can probably assume more delays.
On one hand it’s disappointing that the scope of TelexFree’s fraud means there’s so much data to sift and sort through before Merril and Wanzeler’s trial kicks off.
On the other, if their defense attorney’s aren’t given adequate time to prepare, a question mark will always linger over the proceedings.
The scheduled status conference is supposed to take place sometime today, with a Judge expected to make a decision on postponing it or not soon.
Personally I think we’re going to see the motion granted but, as always, stay tuned…
delays and delays!
in a nov 11th 2014 status conference federal judge hennessey had suggested:
the basic business model, the E&Y report, some proofs of banking statements and payments, should be enough to prove the case.
the scheme was ONE, where is the need to dissect every document!
c’mon, c’mon, c’mon already!!
[there is an audience primed and ready, for a criminal trial, act! before the popcorn runs out]
today or tomorrow james merrill or Telexfree appearing in scheduled hearings Melvin Hoffmann judge in Worcester
mad.uscourts.gov/worcester/worcester-calendar.htm
This is all really interesting and informative. But when do they return some of the money to all the people who got scammed ?
And one more question to everybody – can you sue a team leader who had ties to the company and who was making presentations in a hotel and baiting innocent people into Telexfree.
This person made a ton of money and innocent people lost thousands upon thousands yet he’s enjoying life in paradise.
Is there any recourse for a class action suit against individuals like this even if it’s just from a few participants who lost the most ?
Just curious…
confirmed: judge agreed to extend the case
FML
Which team leader?
4 team leaders have already been sued by the SEC. That case has been stayed to allow the criminal case to be handled first. There’s a good chance that your lawsuit will be stayed too.
The TelexFree Trustee will eventually set up an online claims portal, where victims of the TelexFree fraud can file their claims. But currently the official source of information is Kurtzman Carson Consultants (the claims agent).
NOLINK://www.kccllc.net/telexfree
Currently you can submit your name and username there, to make it easier to identify your account. But you can’t file any claims yet (or you’re recommended to wait for the online claims portal).
Note:
The “click here” only leads to a form with “Full name” and “email address”, but you should provide that information if you’re a TelexFree investor and you have lost money. It will give you updated information via email.
NOLINK://www.kccllc.net/telexfree/inquiry/28217
You will find a list of different TelexFree class action lawsuits in the menu on the left side of this link:
NOLINK://sites.google.com/a/asdupdates.com/files-website/sec-v-telexfree-inc
TelexFree Class Action 14-cv-12058
TelexFree Class Action 14-cv-12437-NMG
TelexFree Class Action, 14-cv-00316 CLOSED
ZEEK REWARDS CLASS ACTIONS
Based on the experience from ZeekRewards, class action lawsuits will not produce much results. I can show you two of those class action lawsuits.
1. The Calvin Cunningham lawsuit has been stayed since August 2012. It will probably cost the clients 30% fee to the attorney.
2. The class action “Belsome et al” has been stayed most of the time since August 2012. It was moved from Louisiana to North Carolina. After that, the attorney has mostly fought for his right to get paid himself rather than for the interests of his clients.
My overall impression is that they have both been rather useless. A lawyer should preferrably be able to produce some results and make a difference for his clients. That difference shouldn’t be “less money / more frustrations”. 🙂
Not for another 2 years, IMHO, probably longer. The trustee is busy sorting out the mess and is leaving the criminal side up to DOJ. There’s not THAT much assets left in TelexFree and much will have to be clawbacks and civil penalties upon the leaders.
You suing the sub-leaders / judas goats is unlikely to go anywhere before the top leaders are convicted or whatever. You may get a settlement if you sue, but it’s more likely you’ll just get “but I’m a victim too” excuse and get your case adjourned pending outcome of the main case.
A few weeks back justice demanded a team leader to pay someone he brought into the pyramid.
The only way to stop this shiit is to prosecute all leaders and start arresting people who sells MLM.
They are creating new schemes almost every week and the talk is always the same.
“Hey, I do have a good business – it’s not Ponzi – I sell tomatoes in pyramid. You can buy a tomato for $50 bucks and earn comissions of every one after you in the scheme”
“But mister, a tomato doesn’t cost $50. Is that legal?”
“Oh yeah. While we have a real product is all legal, don’t worry!”
“But mister, that tomato is clearly a fraud. They won’t even deliver that. Sounds like the tomato is just an excuse to sustain the scheme.”
“WTH dude! You wanna be rich or not! It’s all legal, can’t you see!”
“Sorry mister, i don’t even know how to steal peoples money like that.”
“We can teach you. Just buy the tomato and join us today!”
…A month later.
“Sorry mister, where is my tomato? I Want my money back.”
Facebook message: Mister Schemer is not your friend anymore.
@Charles
LOL… I’ve been missing such “said but true” dialogs so much.
Developments in Ghana:
spyghana.com/central-bank-to-sanction-oisl-and-telex-free-over-gh%C2%A21-2-million-losses/
I wrote a brief update in our Ghana article covering it: https://behindmlm.com/companies/telexfree/bank-loans-telexfee-investors-loses-money-fires-staff/#comment-335665