Telexfree still pushing for Ponzi restart
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 strategies.
Refusing to give up on the notion that the Acre court will permit one of the largest Ponzi schemes Brazil has ever seen to restart, TelexFree have approached Acre’s Public Prosecutors with a new proposal.
Submitted in court on Wednesday January 8th, in a nutshell TelexFree are proposing to refund affiliate investors, on the proviso they be permitted to restart the Ponzi scheme in Brazil.
Previously, as part of mediation proceedings, Acre’s Public Prosecutors had proposed the company refund affiliate investors in full and agree to shut down the Ponzi scheme for good, but this was rejected by TelexFree.
The first part of TelexFree’s new proposal is identical to what the Prosecutors proposed. The second however differs and is likely to to be the reason the proposal is rejected.
Why?
Well, what exactly do you think affiliate investors are going to do with their “refunded” money if TelexFree are granted permission to restart the scheme?
No doubt Carlos Costa will appear in a YouTube video within minutes of any such permission being granted, professing the blessings Brazil’s legal system has bestowed on their business model.
Yeah, that’ll work out well.
On what grounds TelexFree have made their latest proposal I’m not sure. Clearly it’s only a matter of time before Judge Thais Khalil finishes reviewing the evidence and shuts them down for good… so what? Continue to propose increasingly absurd attempts to weasel out of the case reaching its inevitable conclusion?
Good luck with that guys.
I wouldn’t be surprised if TelexFree were slapped with another fine for wasting the court’s time. Back in November last year Carlos Costa submitted an identical proposal to pay out existing investors and restart business operations… and it was rejected by Judge Khalil:
Appearing personally at the mediation conference, Costa first proposed that TelexFree be continued to run their Ponzi scheme as if the authorities had never intervened.
The second proposal was a bit less laughable, with Costa proposing that the company be permitted to pay out existing affiliate investors, who would then be required to re-register in the US to continue to invest with TelexFree.
Basically in both instances Costa pushed for a restart of TelexFree’s Brazilian business operations, so it’s not really surprising that Judge Khalil rejected both proposals.
Unless Khalil has contracted an acute case of amnesia, how TelexFree expect the same proposal to be accepted this time around is beyond me.
In other TelexFree news Carlos Costa was caught out yet again pumping out porky pies in his YouTube videos.
Appealing to the TelexFree faithful, yesterday Costa appeared in a YouTube video and declared that Acre’s Public Ministry (MP) were to blame for rejecting TelexFree’s TAC proposal, submitted during the mediation process.
Responding to Costa’s claim, the MP pointed out that it was TelexFree who rejected the MP’s TAC proposal. Costa’s claims were all the more absurd considering only the Public Ministry are able to make TAC mediation proposals.
After he was caught out yet again, Costa appeared in another video to revise his initial claim. Acknowledging that the proposal he mentioned was unofficially sent to the MP, Costa claimed
the prosecutor confused what was only the hint of TelexFree submitting a new proposal which would be denied, as was the case in November last year.
Referring to Alessandra Marques of Acre’s Public Prosecutors Office, Costa went on to state that ‘unlike the lady there, I’m being honest with all my heart‘.
Y’huh.
At the time of publication the MP hadn’t made any official response to Costa’s latest video. Personally I wouldn’t bother, as the conclusion they published in their initial response pretty much sums things up:
The case will not resolved by videos or conversations on social networks. It is the judiciary who will have the final word.
How many fines, appeal rejections and motion dismissals it will take for that to finally sink over at the TelexFree camp, remains to be seen.
Telexfree now entered in the Brazilian soccer.
This is an ongoing soap opera which seems endless. I assume they keep trying new ways of keeping it alive and to buy time so that the worldwide telexfree community keeps recruting.
How are Telexfree paying these fines ?
Brazilian soccer fans usually say that “There are things that only happen to Botafogo”. Like being sponsored by a Ponzi Scheme
There are plenty of scams that sponsor sports.
I seem to recall that one of those supposed “fuel-saver” devices that claims to help your engine if you plug it into the cigarette lighter socket was a sponsor for a NASCAR truck racing team.
http://jalopnik.com/5802645/fuel-saver-devices-will-not-save-you-fuel
Sir Alan Stanford comes to mind
WOW! Why in the world is he proposing to pay out the victims? Where is the company going to get the money from?
With Ponzis, the wealth has already been redistributed around. (Reminds me of Obama’s big and probably the only idea he has. Redistribute the wealth around LOL as if government has a money tree.)
Perhaps, Carlos doesn’t wave a white flag or throw in a towel because he doesn’t have either and refuses to purchase one or the other. They don’t go for much. A few bucks at the most.
Can someone please provide him with a white flag and towel so that he can finally admit defeat?
On second thought, I believe he’ll refuse those too.
Never mind. I think he believes he heard a heart beat coming from that dead Telex horse.
Give it a couple more whacks with that stick and it may just come back to life.
Interesting development on the Botafogo sponsorship deal. The Commerical Director of Viton 44, who own the brands Guaravita and Guaraviton featured on Botafogo jerseys, has labelled the TelexFree deal a “negative surprise”.
Heavily critizing the deal, Neville Stern states the club never informed them about TelexFree coming on board. Viton 44 are Botafogo’s main sponsorship partner, coughing up R$17 million annually over the last few years and rumoured to be up to R$25 million this year.
Whether or not Viton 44 will cancel their sponsorship remains to be seen, with Stern ‘declining to say whether the company is considering terminating the contract‘.
Somehow I don’t think both TelexFree and Guaraviton’s logos being prominently displayed on the front of Botafogo soccer jersey qualifies as “distinct”.
http://globoesporte.globo.com/futebol/times/botafogo/noticia/2014/01/principal-parceiro-do-bota-se-revolta-com-parceria-com-telexfree.html
I predict that Botafogo will now claim they never accepted TelexFree money and Costas only PROPOSED to sponsor the team. 😀
Lol had this sent in by email:
Kibe Loco is apparently a well read comedy site in Brazil and following the Telexfree sponsorship of Botafogo announcement, they’ve spotted a change to Botafogo’s starting formation – http://kibeloco.com.br/2014/01/10/novo-esquema-tatico-do-botafogo/
Ok, now just take a look at these news: http://www.lancenet.com.br/botafogo/Governos-Brasil-EUA-investigar-TelexFree_0_1063693828.html
In summary, public prosecutor Alessandra Marques revealed that Brazil and USA are already working together on the TelexFree case. She said:
Also, we have these other news: http://veja.abril.com.br/noticia/economia/marketing-do-botafogo-errou-telexfree-nao-e-parceiro-ideal-dizem-especialistas
Here, experts say Botafogo marketing team made an error. They say “TelexFree is not the ideal partner”.
Here another interesting news about Botafogo:
http://www.tribunaldenoticia.com/noticias/noticia.php?id=971
So they try to play up the “TelexFree US” angle, and claim this had nothing to do with Yimpactus, i.e. TelexFree Brazil.
If so, why is Costas talking about it, hmmm? That’s like “talking out of both sides of his mouth”.
Another thing worth a look is that TelexFree removed its Brazilian address from its contact page.
There used to be even a map from Google Maps pointing out the main headquarters, and now we have only Regus’ offices adresses: telexfree.com/home/mudaIdioma/en/contact/Contatos_TelexFREE.html
It’s likely they’ll actually pay for a suite now, since we’ve punctured their lies previously.
So the Acre PPs blocked the sponsorship deal?
Didn’t see that coming!
BRB, have to buy a new sarcasm machine… mine just exploded.
Oz, I commented here a couple of hours ago about some news that appeared today: lancenet.com.br/botafogo/Governos-Brasil-EUA-investigar-TelexFree_0_1063693828.html
It’s about the Acre PP confirmation that USA is also involved in TelexFree case. I can translate her statement to English, if required.
Going through it now. Will have an article up shortly (original comment was held for moderation).
And we’re live – https://behindmlm.com/companies/telexfree/acre-pp-telexfree-under-investigation-in-the-us/
Wow! It’s amazing…I have been searching and doing network marketing opportunity for over ten years just looking for an opportunity to get scammed by it. Why? Just for the experience.
Never found one, yet. Until yesterday, I feel like I finally got scammed. The question is…why my comments in this “behind MLM” article never appear for me to see it? Why I have to go to a different outlet or smart phone to be able to see my own comments? What’s up with that Oz?
Just for that, my friend, can be a scam!
Oh, now…you let my comments show up! What’s going on?
I identified some of your ideas in the other thread, and I also gave you a challenge. “Look at your own ideas after 3, 6, 9 and 12 months to see how they worked. If they DID work, you should probably continue to use them. If they didn’t work, you should probably stop repeating them”.
If you seriously believe in your own ideas, you should accept a challenge like that. It will give you a chance to prove that you actually were right. If you don’t believe in your own ideas, you should probably stop repeating them.
If you have done network marketing opportunities for 10 years, how many of them have collapsed after less than 2.5 years? How many of them have worked longer than that?
“Recruitment scam” isn’t about what you believe it is, if you believe it’s about whether it pays. Nearly all scams will pay out money until they stop working. If they hadn’t paid out money, you wouldn’t have been attracted to them for 10 years. The fact that they’re doomed to stop working makes them scams.
You may still have some chances in TelexFree if you plan to recruit people and withdraw commissions. If you’re a passive investor, your chances will be relatively low.
If you plan to join TelexFree, you may potentially be interested in the following information about recruitment. It’s possible to identify 4 or more TYPES of participants:
1. “Work from Home” people. They will be attracted to arguments about the weekly payouts, e.g. they can potentially buy 5 “Family AdCentrals” to earn $500 per week. They will also like arguments like “If you want to earn more, simply buy some more AdCentrals”.
2. “Compounders”. They will be attracted to the passive investment, and may potentially reinvest money in more AdCentrals. They like to see their money grow, i.e. you should focus on growth rather than on payouts.
3. Recruiters. You probably know better than me what they are interested in?
4. Team builders / team members. You probably know that better than me?
5. Recruiters or team builders who will avoid clawbacks. They will use methods to get money directly from the people they recruit (rather than from the company). TelexFree will allow that, it is actually set up to allow it.
I tried to make those 5 points relatively short, so I didn’t cover any details.
How on earth did you end up here?
If you expected to find typical, positive MLM reviews with a lot of marketing language, then we haven’t produced any yet. “TTT Things Takes Time”. 🙂
If you expected to find “like minded people”, you will probably find some of them randomly in different comments.
If you were looking for factual information, you will find a lot of it. But I don’t think you will like most of it, not before you have identified how to use it.
This website will more easily attract MLM critics than MLM true believers. It will also attract some MLM professionals (they do it for living, it’s not about how “professional” they are). They will typically use it for specific individual purposes.
If you want other people to “reflect” you (reflect your own ideas, beliefs, etc.), I don’t think you will find that here.
Moderation queue. Oz is located in another part of the world, and it can take up to 7-8 hours for some comments to become visible.
@Ger
No idea. Sounds like a problem on your end though if it’s working on your smart phone.
Hey guys let us learn to mind our own business. May act like little chicken, thinking the world will come to end. Have you ever wondered why businesses grow it is after there is a need sometimes suffering.
I know I am making money for this website. This is another scam. Please let us mind you business
@GT
Because people like you don’t care if they have to steal from those who invest after them to make a buck.
How did you do that? Exactly how did you make money for this website?
The “Add comment” button will add your comment, but it will not charge you anything. It will not generate $20 per week.
Your comment may have some intellectual value or some scientific value, but I believe you may have highly over estimated the monetary value of it.
Going by the other (autotranslate?) errors in his post, I’m guessing that was meant to read “from”.
Otherwise why he’s telling himself to mind his own business I have no idea.
@ OZ. “Because people like you don’t care if they have to steal from those who invest after them to make a buck.”
So let me get this straight, according to you those at the bottom of the Pyramid are ‘victims’ being taken advantage of and we must do everything we can to protect the poor little darlings but only until they make a profit and then suddenly they become ‘thieves’ and scumbags who “steal from those who invest after them to make a buck.”
‘Victims’ one day to ‘thieves’ the next huh!
either scumbag thieves or victims. They are not simultaneously one and the same.
Victims can of course jump into the second category if they later learn it’s a Ponzi scheme and don’t care. Meanwhile the only thing worse than a Ponzi investor who goes in knowing it’s a Ponzi is one who runs around trying to convince the world it isn’t.
They are one of the worst scourges of the MLM industry.
Thankfully though since Zeek Rewards selling these bullshit scams to the general public has become much harder though. As evidenced by WCM777 only taking in 20 mill or so in a year. Still a lot but a far cry from Zeek’s $600M.
One can only wonder how much has been invested in TelexFree…