TelexFree’s 13th appeal denied in Supreme Court
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 convince a single Judge in Brazil that they weren’t a Ponzi scheme, of late TelexFree has attempted to have the injunction lifted on legal technicalities. An effort that has proved as in effective as arguing their case on the merits of the TelexFree business model.
Their latest attempt, filed in the Supreme Court somewhere between the 28th and 30th of August, saw the company demand the Acre injunction be lifted on the grounds that the company “would never be succesful” obtaining an appeal from the lower courts.
With no legal precedent or basis to argue their appeal on, not surprisingly the Judge hearing the case was quick to deny it.
Judge Barroso noted that, as per Supreme Court precedent, it was only after a case had been concluded that an “extraordinary appeal” could be filed. And even then, it had to be filed in the court that the initial injunction was granted in.
Barroso also noted that it was “unacceptable” to file an extraordinary appeal for the purposes of obtaining an injunction against a judgement made on the basis of “precautionary measures”, which the Acre injunction was made on.
Noting that the only argument TelexFree had presented was that they “would never be successful” winning an extraordinary appeal in Acre, Barroso denied the appeal.
In addition to losing their thirteenth filed appeal against the Acre injunction, TelexFree was also dealt another blow late last week when the Criminal Chamber Court of Acre lifted the injunction that was suspending criminal investigation of the company.
Previously Judge Fransico Djalma had granted an injunction, however this time around three Judges ruled on the injunction with Eva Evangelista and Samoel Evangelista voting against Djalma (who maintained his vote in favour of the injunction).
As such, police in the Brazilian state of Espírito Santo are now free to resume the criminal investigation against TelexFree. In addition to the re-opening of the Espírito Santo case, the Judges also acknowledged that there was nothing stopping police in other states from opening their own criminal investigations.
This was of particular significance as TelexFree affiliates are only able to be interrogated by local police in connection to a criminal investigation. Police in Espírito Santo would therefore only be able to interrogate TelexFree affiliates based out of Espírito Santo. If other states were to open their own criminal investigations, law enforcement would have access to a much larger affiliate-base to question as required.
I’m currently unaware of any additional criminal investigations having been opened but with the week just starting, I’m sure we’ll hear of any beginning during the week.
Meanwhile there’s been no word on the what the gameplan now is for TelexFree or whether or not they’re going to file a fourteenth injunction. With the company admitting it has zero chance of convincing Judges in Acre that it’s not a Ponzi scheme and the Supreme Court throwing them out, filing more appeals would appear to be a waste of time.
One would have thought that was painfully obvious after the first few appeals were denied, but here we are…
That source seems to be from August 2nd. The injunction against investigation was lifted in late July / early August, relatively shortly after the Court had decided a date for the August 12 Interlocutory Appeal.
A police investigation could potentially come in conflict with the ongoing Court case / 30 day deadline. When a case resides before a Court, you’re also protected by the Court as a defendant – protected by the Court’s higher rank in the case.
I found some other info on the Supreme Court’s website, some of the latest “Movements” in the case.
I’m just showing it as an example.
Source (disabled):
stf.jus.br/portal/processo/verProcessoAndamento.asp?numero=3438&classe=AC&origem=AP&recurso=0&tipoJulgamento=M
You might be right with the date on the investigation article. It listed as 02/08/2012, however lists publication for only 13 hours. I think they might be trying to game Google News.
Or they might have just punched in the wrong publication date. They mention the lifting of suspension in Espirito Santo and that an investigation in Acre would have no impact on the current civil action.
I’ll leave it for now till we get a clearer picture (hopefully later in the week). Both articles were balls to try and piece together translation wise (especially the court one).
Meanwhile I wonder who’s been subpoenaed, affiliate or management?
More & more of the same. Any idea when the s–t is going to hit the fan in the US???/
Sure, when AdCentral investment slows down and TelexFree can’t pay it’s investors.
It’s impossible to predict anything. I believed the injunction in Brazil eventually would lead to a complete shutdown within a few weeks or months, but those “few weeks or months” have partially ended.
As an investment opportunity, it’s too late to join it now. You will need 15 weeks to get you initial investment back. To make a 100% profit, you’ll need more than 6 months. That’s too long time, the risk is higher than the potential reward.
As a recruitment opportunity, anyone experienced have probably a fair chance. The experienced ones typically won’t invest too much money themselves, they will try to earn money from recruitment rather than from investment.
TelexFree CAN be shut down without any clear “warning period”, e.g. if the investigation in Brazil show clear evidence of money laundering.
In addition to filing a civil case against BBOM on Monday, a Public Prosecutor has stated that
The civil suit filed against BBOM asks for the dissolution of the company, along with securing of funds to be paid back to affiliates who lost money in the scheme.
http://www.jaenoticia.com.br/noticia/2419/Decisao-sobre-telexfree-e-bbom-nao-deve-em-2013
Telexfree case: new death threat against the judge:
http://g1.globo.com/ac/acre/noticia/2013/09/juiza-do-caso-telexfree-volta-ser-ameacada-de-morte-no-acre.html
@Brazilian
Ah the desperate investor. Pity they don’t take out their frustration on those truly responsible, the three amigos who own TelexFree…
Would want to know if telexfree is operating legally now in the USA, and if it’s not advisable for new registrants or members to join, as a result of being conned?
How long may judgement take to cease or allow telex free operations? We in Africa saw it as a good investment but are scared of losing our monies.
Margaret Mukasa
@Margaret
TelexFree is a Ponzi scheme. If you want to know if it’s operating legally you’ll need to ascertain whether or not Ponzi schemes are legal in your country.
They certainly aren’t in the US.
This isn’t the place to ask for investment advice.
Oh dear.
Ask Richard Harriman of Mmegi online. This is his personal blog, but he also appears in newspaper.
consumerwatchdogbw.blogspot.com/