TelexFree linked to “money laundering cartel”
Following a month-long investigation into TelexFree, Rwanda recently decided to ban the scheme. Upon announcing the decision, the Rwandan Ministry of Trade claimed TelexFree’s activities were “similar to that of a pyramid scheme” and raised concerns it was facilitating money laundering.
Now, in a followup report released by the Ministry, the Rwandan government is accusing TelexFree of tax evasion, exploitation and money laundering.
The TelexFree Ponzi plague arrived on Rwandan shores in mid 2013, with the company registering itself nationally as “PLI TelexFree (Rwanda) Ltd”. Then, over the next nine months, the company set about fleecing Rwandan affiliates and transferring their money offshore.
The Ministry of Trade’s report on their investigation reveals
that the company was involved in laundering an estimated to Rwf 7billion ($10.2 million USD) to foreign companies in the US and Germany evading taxation.
The report released by an investigation team led by the Ministry of Trade and Industry indicated that the company has been laundering money, evading taxes and exploiting Rwandans to the benefit of its foreign owners.
The funds TelexFree laundered out of Rwanda would have presumably be used to pay out existing investors elsewhere around the world. In light of the recent ban on TelexFree’s activities in Rwanda, what happens now to local Rwandan affiliate investors and their money is unclear.
Meanwhile I’m at a loss to explain why TelexFree was laundering investor funds through Germany. The US I understand, as that’s where the company is currently headquartered.
TelexFree currently use i-Payout to transfer their affiliate’s invested money globally, the only explanation I can think of is perhaps i-Payout are using banking channels in Germany.
With at least one government confirming TelexFree were engaged in money laundering, it follows on that this is a widespread practice company-wide. Prosecutors in Brazil have already raised suspicions of money laundering and embezzlement, with TelexFree also under investigation in the US by the SEC.
As of yet there’s been no official confirmation that the SEC’s investigation has expanded to cover the business activities of i-Payout, however it would appear any such investigation would be a fraud goldmine for investigators.
Despite i-Payout hiring Kevin Thompson to tackle client compliance last month, I’m still seeing the payment processor’s name frequently attached to schemes operating out of the MLM underbelly.
One recent example is that of Spinding, who offer affiliates position in six “cycler” queues. Affiliates buy into the queues for between $30 to $960, and then wait for their positions to accrue balances of $1 to $32, payable up to ten times a day. Balances are accrued as new positions are bought by Spinding affiliates.
i-Payout had no problems with this business model and threw their payment processor doors open to Nash, but apparently stopped short of offering him instant credit card processing. Nash decided this wasn’t good enough and went on to recently launch Spinding using a Chinese (Hong Kong) based credit card processor.
Apparently no US-based provider was willing to let Spinding use their network and take on the risk Nash was demanding of them. As I understand it i-Payout is still a non-credit card payment option within Spinding, giving you an idea of the clientele they bed with.
Call me cynical but I’d say at this point a separate investigation into i-Payout is almost certain, if instigated by nothing else than the fallout of TelexFree and the SEC’s attempts to track the scheme’s transfer of funds.
i-Payout have previously defended TelexFree’s infamous AdCentral business model, claiming the payment of $20 a week for 52 weeks per $189 invested by affiliates was “compliant with all US laws“. To date the payment processor has not issued any public statement on the SEC’s investigation. Whether they’ve been requested to supply documentation on affiliates to the agency remains in question.
Echoes of Zeek Rewards and their payment processor NxPay certainly come to mind.
It seems some TelexFree members are joining UNETENET which they are touting as having TelexFree’s old compensation plan. If TelexFree is being shut down because of their compensation plan doesn’t it make sense UNETENET will suffer the same fate?
I know many want to make a quick buck before it’s shut down. However, it still baffles me how people can scream support for TelexFree one day, watch it being shut down on another, and then advertise UNETENET with a straight face the next.
@Moses
These are commonly referred to as “reload scams”. They don’t tend to be as popular as their predecessors as the only people who join them are those who “got in late” to the original scheme.
They blame some one else, of course. 1) critics like us for ruining the old one, 2) “crooked leaders” who betrayed them and lied to them 3) underlings “who didn’t understand the business model” (and thus did “something wrong” and ruined it) or 4) combination of the above.
It’s a “conspiracy”, of course.
In the TelexFree Compensation Plan v2.0 Review I commented about this and M_norway said that I was wrong.
Now is easier that ever for money launderers, because they will invest $668 for Family Plus and in one month they will receive $700 if they create 2 more accounts, if they don’t create more accounts just only one individual they will invest $668 and receive $450, 30% less than invested.
Money launderers pay 15%-30% to get the money laundered so it will be a good business for launderers.
Telexfree is done and so are the Dominicans evading taxes by registering under their Dominican identity
M_Norway speaks from a laymans’ logical point of view, with little or no understanding of how crime and criminals actually work in the real world.
Money laundering is actually one of the main reasons ponzis and pyramids are now coming under increasing attention worldwide
Investigation TelexFREE in Brazil:
http://www.acrealerta.com/index.php/capa/menu/noticias-da-hora/telexfree-urgente-tha%C3%ADs-khalil-determina-que-governo-do-acre-deposite-r$-500-mil-em-ju%C3%ADzo-e-que-per%C3%ADcia-seja-realizada-em-60-dias
Man, TelexFree’s lawyer is so slimy.
This is the same Robert Duarte who consistently replies with “no comment” everytime shit hits the regulatory fan.
And what, because they have to put up some money, Duarte and his buddies should be permitted to continue their Ponzi scheme? Riiiight.
I think they’re hoping for Acre to NOT come up with any money, forcing Judge Khalil to dismiss the case.
Wouldn’t that be something, Brazilian government too poor to prosecute global Ponzi scheme. Carlos Costa probably has that written down as the gameplan on a napkin somewhere.
Apparently the government report cited the threat of TelexFree money being potentially linked to “terrorist activities”.
http://allafrica.com/stories/201403200151.html
TelexFREE Energy Drink is true? Was posted in brazilian blog of mlm
https://scontent-b-ord.xx.fbcdn.net/hphotos-prn1/t1.0-9/1011467_553833714716020_1092687408_n.jpg
Could be, although I imagine someone at TelexFree HQ just googled “white-label products we can sell” when the SEC came knocking.
A TelexFree energy drink seems completely random, not withstanding that “TelexFree” is a ridiculous name for a beverage.
There was that “TelexFree Ice Cream” a few months back…
The next product launch may be Free of Telex
“TelexFrozen” would be most a appropriate name for it given the appalling turn of events of recent months.
I thought that was the name of the new compensation plan…
Here in the Dominican Republic, the #TelexZombies are also called #TeleTubbies… I thought that was hilarious.
As an update, for the first time in 9 months I see declining interest in this ponzi (as measured by Google Trends from the DR), but their web page is still the #15th most visited from the island, ahead of all the local banks and newspapers except one each.
I am afraid most people are clueless, still, as to their understanding of the new “plan”, but others that are inside are already selling (at a discount) their “bonos” in a magical secondary market that has sprung up as of the last couple of weeks.
Towards the end of last week, Wanzeler was here on a media tour, trying to convince some journalists as to their legitimacy and business model. I heard one of their local pharaohs talk about Obama supporting TelexFree (¡LOL!), but did sound sort of desperate and trying to appease his group of #TeleTubbies.
Because of the significant Dominican population in Massachussetts, what happens over there will trickle over to our island very quickly.
That would be called “TelexFumble” and “TelexFailure” . LOl!
If indeed there is a notion of money laundering, someone simply needs to send this info to the US DHS as the amounts of money we are talking here with TF are grounds for funding terrorism.
I think DHS would act much faster than say the SEC or FTC or any state AG. I can see it now, busting in on the gang here in the US and abroad. These guys are going to prison, its just a matter of time.
That’s TelexFunny
Oz, Telexfree’s e-wallet is indeed using a German bank to process payments. In the Facebook group: Telexfree Universal Group, there was a major complaint that this bank change was causing affiliates to receive in Euros, and therefore paying a huge amount of money in conversion taxes, not to mention the processing fees.
This happened approximately 2 months ago.
Oh dear. So it appears TelexFree are indeed using i-Payout to launder their money then.
TF is actually one of their more “legit” looking clients they have. I’ve seen some absolute Ponzi stinkers using them so who knows how big the fraud rabbit-hole goes over there.
Like I said before, investigating i-Payout sounds like it’d be a regulatory agent’s wet dream.
There is no need for MLM. It should be illegal. Give people commission on real sales and have employees overseeing chunks of areas performing as sales managers.
That’s it. Or else retail online as everybody else.
NO NEED FOR THIS PERIOD.
Interesting. Rwanda is claiming that money’s moved out to Germany… and the US. 11.3 million USD’s worth.
And the article claimed that Tanzania already banned TelexFree, though I can’t find any other news about it.
http://allafrica.com/stories/201403200151.html
Costa put out a new video today again declaring he’s going to fight the conspiracy to the end etc. etc.
There’s also rumours of Merril going into hiding as the reason some random was appointed new CEO.
And finally the R$500,000 deposit decision in Acre looks like it’s going to be appealed. I’m guessing this is why TF pushed so hard to get the burden of proof transferred over to the prosecuting side, they knew this situation would arise.
Appealed by the MP-AC?
Yeah, local politicians in Acre are apparently not too happy about the decision. There’s talk of getting higher up departments involved (attorney general?).
I haven’t got anything concrete yet, not sure if the Brazilian news will report on it tomorrow.
Is this what you’re looking for? Seems Costas wants the old deal with MP-AC back.
http://www.cenariomt.com.br/noticia/349351/plantao-telexfree-no-34-decisao-esta-nas-maos-do-ministerio-publico-do-acre-diz-carlos-costa.html
So what, refund net-losers (with African and who knows where else) money, get the affiliate to sign a waiver and thus TelexFree doesn’t pay a R$800,000 fine per affiliate (who signs the waiver)?
Oh and of course the “but you have to let us restart our business” clause too.
Costa’s appearing increasingly desperate in his videos. Personally I think the prosecutors can just wait till the US are done as I don’t see how they’re walking away from that mess.
Changing CEOs and the comp plan doesn’t negate two years of Ponzi operations.
Serbian/Herzegovinian newspaper denounces TelexFree pyramid scheme
http://www.slobodnadalmacija.hr/Prilozi/Spektar/tabid/94/articleType/ArticleView/articleId/238936/Bauk-nove-piramide-iri-se-Hrvatskom.aspx
TelexFree under investigation in Colombia (back in Feb 2014)
http://www.portafolio.co/economia/resurgimiento-%25E2%2580%2598piramides%25E2%2580%2599-colombia
oops, that should have been a Croatian newspaper. (HR domain is Croatia)
I commented on a specific idea, about criminals using TelexFree to launder money from other illegal activities.
Criminals who recently have invested money in TelexFree in one of the countries where it has been banned will have great difficulties getting money out.
I simply didn’t think that idea sounded very good. It doesn’t really matter whether it was from a layman’s point of view or from a professional one. The level of understanding is probably good enough for most people, so I don’t really see your point? 🙂
I didn’t even mention anything about how criminals work, I focused solely on whether or not the idea itself sounded good.
It will be much easier if you make comments DIRECTLY, e.g. “I believe that idea sounded smart”, rather than INDIRECTLY where you make a comment referring to Charles’ comment referring to my comment.
That last method is rather complicated and difficult to understand.
Easier for whom ??
There are so many flaws in your “logic” it would require a lot more space than this blog can afford to disprove them all.
You don’t understand money laundering, fair enough.
You continue to apply a similar form of “logic” and lack of understanding of ponzi / pyramid fraud, and that is fair enough as well.
Give it a couple more years and a lot more research and perhaps we can visit this again.
Telexfree is going down really soon.
I can’t wait to see what happens next, thanks for another article on Telexfree Oz.
That is the same question I have. What happens next? Does the people “Promoters” that are net profitable gets to keep the money or not?
I don’t think we are close to that answer, but that will determine if its worth risking your money in ponzi/pyramid scheme.
I’m hearing lots to talk about Click Prime 8, and Wings, from the Telex people looking to move on
Hey, Oz, take a look at this: http://finance.yahoo.com/news/telexfree-succeeds-niche-marketing-telecommunications-123000939.html
Is it just my imagination or isn’t that press release another desperate move to try to convince people Telexfraud is a legit, “life-changing” scam, I mean, business?
What a crock o crap. Complete with a link right to the Telex site.
They’re being shut down or investigated all over the world and they have the nerve to put somthing like this out? Unbelievable.
Wonder who came up with this manipulative move.
Its the Big Lie in action. Its apparent by some of the remarks made here that some people will believe anything.
“….You can fool some of the people all the time…etc.” comes to mind.
PRNewswire is a site that you pay to advertise for you. This is not in fact a legitimate news article.
They just keep topping them selves with the absurd.
It was rather difficult to find the original dialogue. The method was far too complicated.
I made a comment about one specific idea, so your focus on general money laundering isn’t very relevant. The dialogue is quoted in post #34. If you feel that idea is smart, you should probably state that directly?
If that’s what determines it for you then you should also enjoy abusing the trust of young children and imbeciles.
Hey Dorothy, not so long ago they did the same here in Brazil: they’ve published some “see-how-good-we-are” ad in a prestigious brazilian magazine and some of their promoters had the nerve to start blogging absurds like “See how legit we are? Even that famous magazine is talking good about us!”. Yet it read “paid advertisement”.
After connecting the dots, one could plainly see that was done at the same time they were encouraging brazilian to join Telexfree US and pretend everything was fine.
It’s just another variation of “they aren’t stupid enough to associate themselves with a scam”. Can be done with celebrities or anything with “more” credibility than the scheme itself (which in case of TF, it’s everything else)
Last year Acre’s PP proposed that Telexfree should give the money back to those who did not earn anything after “investing” in the scam and cease its activities. Carlos Costa screamed and shouted, saying that was outrageous, inconceivable…
Yesterday, after Acre’s judge in the case demanded the payment of the company elected to audit Telexfree and that the audit must be concluded within 60 days, Carlos Costa published another of his vídeos now appealing to telexfree’ers to accept the TAC (adjustment of conduct) because HE wants to return the Money and the justice is doing nothing.
He also brags about how unecessary na audit will be, because brazilian IRS had already confirmed Telexfree is completely legal and that “numbers tell no lies”.
I’m really not sure about what’s the conclusion here:
1 – They just want to close the case in Brazil so everyone will say they are fair and good to the people and forget about Brazil’s ban?
2 – They know the audit will find proof of ilegal business and they want now to accept what’s been proposed before to avoid the audit and, possibly, the end of the scam?
3 – Is Carlos Costa just trying to cover his a**?
telexfree CEO james merrill…making a run for it!?
http://www.cenariomt.com.br/noticia/349350/caso-telexfree-verdade-ou-mentira-james-merrill-anuncia-saida-da-telexfree.html
Someone make a Costas video.
Two windows, one that said he won’t stand for it (refund)
then one window that says he’ll take the deal.
then big letters: Costa… Two-Face (batman villain)?
then BIGGER letters: CAN WE TRUST HIM?
@Diego
I saw that add. Well, it’s Telexfree’s style that they just make up their own rules and their own world.
-Fake business
-Fake award ceremony (they gave awards to each other..lol)
-Fake article’s
They’ll be sorry when legitimate articles are written. I don’t think they’ll be as flattering as the ones they write themselves…..lol.
@Diego
Yeah they’ve hired the company “ereleases” to spam the internet for them. One would think after having their affiliates spam the internet with VOIP ads for two years that they’d understand spammy press-releases copy and pasted to a bunch of sites doesn’t achieve anything.
If TelexFree were serious about PR they’d stop dicking around with the comp plan, release official documentation on it to their affiliates and clear up the confusion about their staff changes.
But instead they’re too busy trying to convince the world VOIP is relevant to their AdCentral ROIs via spammy press releases.
@Diego
Carlos Costa doesn’t want a company-wide audit? That’s all the more reason to get one done then.
An IRS audit doesn’t extend beyond tax liability, a full company audit will reveal the widespread fraud taking place within the company. That’s the reason for Costa’s backflip.
Update: Merril hasn’t left the company.
Love the 80s talkshow music…
hi Oz, Here’s what was just published in Brazilian news Gazeta:
http://gazetaonline.globo.com/novo/_conteudo/2014/03/noticias/dinheiro/1482569-associados-da-telexfree-e-da-bbom-dizem-nao-ter-recebido-informe-de-rendimentos.html
Given TelexFree’s recent tax fine, I imagine whatever they have submitted to the IRS (if anything) for 2014 is fraudulent too.
What? These guys have the biggest set of ba**s I’ve ever heard of.
The fact they can get on stage at those moronic seminars or film this obvious nonsense with a straight face just amazes me. All over “the world” (not a town, not a state, not even a country) they’re being shut down or investigated and you’d think the way they act that all is “awsome”.
I read on a face book page, a young man from Africa ask’s, “Do I have to have customers now? Voip doesn’t work in Africa and it’s to expensive to purchase something we can’t use…”
Hey Mr. Merrill how many minutes did you log in Africa?
Haitti doesn’t have clean water or proper sewer systems so cholera is rampant but they want to buy voip product?
So the next time one of you Telex zombies jumps in your new BMW remember the faces in Africa and Haitti, those are the ones that paid for your car. You’re all really a buch of Rock Stars aren’t ya?
These guys are serious Sociopaths.
TelexFree are counting affiliates who purchase VOIP to qualify for their ROIs as “customers”. Their true retail customers can’t be more then 1% of the total sourced revenue (typical of Ponzi schemes hiding behind a product/service).
As for the figure doubling, you only have to look at countries like Rwanda to see where these “customers” are being signed up. TF send the money through iPayout to Germany and the US and then launder it out throughout the world via affiliate ROIs.
well there has been a lot of rumors as wellas a lot of noise about the new compensation plan and it appears that the new plan is profitable on the long run and, I don’t understand why some members are complaining. this is not an investment company and we need to work to earn just like any other job.
hopefully with this new compensation plan we will get rid of the lazy people who don’t see the big picture and also that will allow TELEXREE to stay on the market for many years to come. and about rhe SEC investigation or subpoenas we will have to wait since they usually take between 30 days to 90 days to review information and to take action.
in the mean while anyone who is a promoter just buy, promote and relax until we see the results from the ongoing investigations in other countries, and the outcome if any from the SEC (Securities Exchange Commission) since they are the main ones taking the final say.
@Alex
You sound like such a sweet and sincere person. I’m worried that they actually talked you in to this new program.
Bravo that you’re doing your research. Please run from this as fast as you can. It’s bottomed out now so you will not make the money people on the top promise. Telex scam is done. Alex, do not give them your money.
Extremely unlikely.
TelexFree offerings are rather lame and uncompetitive against Skype and other long distance offerings.
What you’re suggesting, “buy promote, and relax” means you continue feed money into a well hoping that something pops back out.
I’ve also seen TelexFree spam all the way in China, translated into Chinese no less. I tried posting some comments but they’re deleted after a few days.
TF can at least brag about one milestone its achieved during its short? existence:
It unleashed the greed of hundreds of equally capable minds of replicating Ponzi schemes on a scale probably never seem before. There are new pyramids popping everywhere across the earth on a consistently basis, week after week.
Congratulations Telexfree. the word isn’t the same anymore. \\ and it is a lot more slippery and there are millions of morons that now believe on the magic of getting money for nothing.
Thanks for sharing that video about Mr Merril. Now I am more excited than ever to spread the word about this great company. You are awesome for finding these videos OZ. Thank you so much. I can’t wait to tell my friends.
What’s become interesting is seeing the amount of Google hits provided when you type in MONEY LAUNDERING” and “TELEXFREE”
Given the current international focus on money laundering, one can’t imagine TelexFree staying under the radar, so to speak, for much longer.
is a pyramid scheme to make money based on the popularity of another?
2 years making money talking about telexfree.
I don’t think scammers are interested in selling anything, in other words, working.
In a Youtube vídeo a brazilian Telexfree team explains to the public how to earn easy money without actually selling any VoIP to anyone.
They say that you can be both consumer and promoter… Gosh, how greedy and stupid can a person? At first I really thought it had something to do with poverty and the lack of a good educational system in Brazil, but this is way beyond that.
In time: some telexfree’ers are spreading the word that Acre’s governor said in some sort of meeting about MLM that he will only aprove paying R$ 500,000.00 to start the auditing process IF justice allows Telexfree to pay those who did not profit.
Awwww.. such a good man, right? Keep in mind these: Acre’s one of the smallest states in Brazil, one of the poorest, one with the most number of telexzombies and this year brazilians will vote for new governors, congressmen, state representatives and president.
Eu sou do Brasil e aqui a situação esta feia. Toda e qualquer pessoa que se opõe a TelexFREE é taxada de corrupta. Os divulgadores afirmam que a juíza Thaís Khalil é corrupta, que a promotora Alessandra Marques é corrupta, que o Ministério Público do Acre é corrupto, que o governador do Acre Tião Viana é corrupto, que todos os deputados que se opõe a empresa são corruptos, que a ABVD é corrupta, que a imprensa é corrupta, que as autoridades dos países que estão investigando a TelexFREE é corrupta, até a Ernst & Young (empresa que será paga para investigar a Ympactus), mesmo não conhecendo a empresa, alguns divulgadores já a chamam de corrupta, dizem que seu relatório sobre a Ympactus será “comprado” pelo Ministério Publico do Acre. Para os divulgadores, os únicos que estão certos são eles mesmos. Para eles, o diretor Carlos Costa é dono da verdade, tudo que ele diz é cegamente seguido.
Mesmo que a Ympactus venha a ser fechada, os divulgadores colocarão a culpa na justiça brasileira. Além disso, o fechamento não será um grande problema, pois a maioria deles já se associaram a TelexFREE Internacional.
A parte boa da história é que nenhum divulgador se atreve a falar mal da justiça dos EUA, pois a veem como modelo. Conclusão: Fechar a empresa aqui no Brasil não surtirá muito efeito, pois colocarão a culpa na corrupção, que diga-se de passagem, não tem nada a ver com a história. Mas fechar a empresa nos EUA calará a boca de todos os divulgadores brasileiros, pois duvido muito que algum divulgador tenha a cara de pau de chamar a justiça dos EUA de corrupta.
Parabéns pelo seu blog! Infelizmente não existe um blog como este no Brasil, na verdade até existe, porém não é atualizado com muita frequência. Conheci o BehindMLM depois dele ter sido citado em um site de notícias aqui do Brasil, com toda certeza passarei a acompanhar suas postagens.
Google Translate: (espero que de para entender.)
I’m from Brazil and here the situation is ugly . Anyone and everyone who opposes Telexfree is labeled as corrupt . The promoters claim that the judge is corrupt Thais Khalil , the promoter Alessandra Marques is corrupt , that prosecutors Acre is corrupt , the governor of Acre Tiao Viana is corrupt , that all MPs who oppose the company are corrupt , that ABVD is corrupt , that the press is corrupt , that country authorities who are investigating the Telexfree is corrupt to the Ernst & Young ( now to be paid to investigate the Ympactus ) , even not knowing the company , some publishers have call it corrupt , say their report on the Ympactus be ” bought ” by the Public Ministry of Acre .
For publishers , the ones who are certain they are themselves . For them , the director Carlos Costa is owner of the truth , everything he says is blindly followed .
Even though Ympactus will be closed , the advisers put the blame on the Brazilian courts. Moreover , the closure will not be a big problem , because most of them have already joined the International Telexfree .
The good part of the story is that no publisher dares to speak ill of the U.S. justice because they see it as a model . Conclusion : Close company here in Brazil will not have much effect , since put the blame on corruption , say by the way , has nothing to do with the story . But closing the U.S. company will shut the mouth of all Brazilian publishers , because I very much doubt that any publisher has the nerve to call a corrupt U.S. justice .
Congratulations on your blog ! Unfortunately there is a blog like this in Brazil actually even exists, but is not updated very often. BehindMLM met after he was quoted in a news site here in Brazil , surely I shall follow your posts .
If you can study the end of “Zeek Rewards” ponzi scheme in the US (also on this blog) you will see some very interesting parallels.
* blind following, everything said by leaders is true. Here we have “burger analogy” or “toilet paper roll test”
* everybody who oppose it is corrupt (here Zeek followers said SEC is mistaken, is corrupt, lawyers are corrupt, etc.)
* adding new management team members (just before the end?)
* same sort of “post ad for us and get paid lots of money”
Willing to go down with the ship. That’s a real hero.
@Big Moron….I mean Money
I think you’re so right that you should take all the equity out of your trailer in the park you live in and invest it in Telexfree. Bombs away!!!!!!! : )
I had a different question though.
I had an anonymous commenter that claimed “Universal Private Banking”, that HYIP-looking thing, was ran by none other than Sann Rodriguez, i.e. “Number One TelexFree promoter”. S/he didn’t provide any proof (yet).
However, there are 3 interesting circumstantial evidence
1) TelexFree allegedly used them to pay people in Mass last year
2) It is based in Mass, same as TelexFree
3) It has name “Universal”, which is amazingly similar to Universal FoneClub of Sann Rodrigues…
But those are VERY VERY circumstantial evidence, of course. Any one see any other links? Any TelexFree former members heard of this?
Confirmed: Acre PPs will appeal the decision that the state pre-pay R$500,000 in costs.
http://g1.globo.com/ac/acre/noticia/2014/03/telexfree-juiza-do-ac-determina-que-estado-pague-r-500-mil-para-pericia.html
OMG! Scammers and their lies. Do you guys remember that PR Newswire press release published in some websites, including Yahoo Finance? Well… guess what: todospelommn.com/telexfree-yahoo-finance-fala-sobre-empresa-de-telecomunicacoes
In summary, they say Telexfree is featured on a american website, even if it is blocked in Brazil.
This is the same thing that happened no so long ago with Época magazine in Brazil: Telexfree published some (paid) ad on that magazine and the scammers started bragging about how amazing their company is, because it was featured on such respected magazine.
The same is now happening with this other paid press release/advertisement: they are spreading the word that Yahoo Finance has puslished an article about Telexfree and how good and amazing it is.
Here’s the image summing up all the *bs*: todospelommn.com/wp-content/uploads/2014/03/1617577_370309509776824_500448509_o.jpg
Mais uma materia paga em uma revista semanal, na “Época”.
Another matter paid in a weekly magazine, the “Época”
scontent-a-mia.xx.fbcdn.net/hphotos-prn1/t1.0-9/1970630_695521100491372_917604612_n.jpg
Another one: finance.yahoo.com/news/telexfree-chooses-tradition-direct-selling-124500452.html
Their Facebook page is now full of BS’s like “our company is soooo good that it is always mentioned in american websites like Yahoo Finance and only in Brazil media are unfair and corrupt”.
Gosh… Justice in Acre or SEC in America could just put an end to this scam.
It’s expected that the spam by paid PR groups will be regurgitated by affiliates in an attempt to legitimize schemes like TelexFree. Happens quite frequently.
Best to just ignore it as it really only serves to convince those who are already convinced their Ponzi scheme is legit.
So.. any news from SEC? or any countries that banned it recently??
Obed Natugumya-Basobokwe, a staff member at the Ugandan Office of the Present, has issued a public warning about TelexFree:
http://www.newvision.co.ug/news/653880-beware-of-telexfree-operations.html
Note site appears to be currently DDOS’d at the moment. I had to access it via Google cache text-only version (regular cache is down too).
Telexfree issued anothet PAID advertising, to try to cover the baning in Rwanda:
digitaljournal.com/pr/1818233
(dont forget to read the “PR – press release” to know it is not news, but a paid publicity)
Telexfree says it does not have an office in Rwanda. But this doesnt matter, because the alleged Telexfree company WAS using Telexfree’s system and website. And the whole “system” that Telexfree operates is. Something that Rwanda oficials banned.
So any put in or out of TELEXFREE system is illegal in Rwanda, regardless of that “office” being from Telexfree or from its afiliates. Rwanda banned that office and by consequence anything that the Oficial Telexfree could “recruit” in the country.
That’s why Peru banned any transactions from Telexfree in that country. TELEXFREE doesnt have an office there, but receiving money from any Telexfree account or affiliates is now deemed illegal there and banks were told to stop any transactions from that source.
If Uganda follows suit, like that ambassador suggested, it will be the same. Having an official officce doesnt matter, if the “activity” of that foreign company is. deemed illegal in the country that is recruiting and collecting funds.
youtube carlos costa with subtitle english about Ernst & Young report.
sequence youtube carlos costa about Ernst & Young report.
subtitle available in youtube (use subtitle translate)
youtube.com/watch?v=0muG5uk0DOU
5 minutes in… Carlos Costa complaining about the length of time a clarification takes, doesn’t acknowledge it’s because TelexFree records were terrible and their database was a mess (US investigation confirmed this).
Nothing about TelexFree being a $1.8 billion dollar Ponzi scheme…
Yawn, I closed the window @ the [4:56] mark.