TelexFree victims’ allowed claims between $500 to $700 million
As part of a filing pertaining to James Merrill’s restitution, the TelexFree Trustee has revealed
that the current estimate of the aggregate amount of allowed fraud victim claims is between $500 million and $700 million.
Unfortunately Merrill’s restitution order doesn’t name a specific amount, but rather consolidates his restitution with that of the Trustee’s efforts.
Through the Bankruptcy Case, with the authorization of the Bankruptcy Court, the Trustee will distribute the assets of the TelexFree bankruptcy estates to their creditors, including victims of the fraud charged in this criminal action.
Merrill was arrested in May, 2014 and charged with wire fraud. Following an indictment in July Merrill initially first plead not guilty, but switched to a guilty plea in October, 2016.
In March Merrill was sentenced to six years in prison, which he is currently serving.
I am one of the Telexfree victoms, they scammed from me $16540 dollars, and $8800 dollares that I woked every night to work on my 11 accounts to get 20 fillers.
Still I am waiting from the authorities to get back my money, and I hope I will. Thanks for your dedication and tireless effort to help Telexfree victoms.
Ali Jaras, Its like the interesting weeks are yet to come!
Thanks.
Please help us in Africa to receive refunds of in telexfree. Thanks a million.
Bit late for that. Sorry for your loss.
I wondering what happen to the reimbursment (restitution) money. Since over 3 years, I receive a little amount of $339.00, I haven’t hear anything about telex free again.
I hope to hear from you soon as possible. Sincerely, yours.
If you’ve got a valid claim you’re waiting on a distribution payment. Not sure where your $339 came from but it wasn’t the TelexFree Trusteeship.
There’s some claim transfer stuff going on at the moment that’s delaying things, along with various other legal proceedings.
The Trustee hasn’t given any indication of a distribution timeline.