Would TelexFree survive the SEC WCM777 shutdown?
Earlier this month, Massachusetts Secretary of State William Galvin’s office revealed that they were
investigating a Marlborough-based telephone marketing company that has already been banned in Brazil for running a pyramid scheme.
The inquiry stemmed from the office’s investigation into a similar company that was accused of targeting Brazilian immigrants in Massachusetts with a multi-marketing scam, said Brian McNiff, a spokesman for Galvin.
The “telephone marketing company” they were investigating was of course none other than TelexFree, with the company later confirming they were indeed under SEC investigation.
Meanwhile the “similar company” mentioned above is WCM777. Shutdown yesterday by the SEC after it was revealed to be a $65 million dollar Ponzi scheme. In taking down WCM777, the SEC filed a 24 page complaint with a Californian District Court.
Given the “similarities” between TelexFree and WCM777 and the former also being under SEC investigation, I thought it’d be worthwhile to go through the SEC complaint and see how TelexFree stacks up.
Foreword: Given that the SEC are likely to be investigating the compensation plan TelexFree used prior to the most recent changes, that is what has been focused on in this article.
Much confusion surrounds the recently changed TelexFree compensation plan, with the company failing to release any current official plan documentation to affiliates or the general public. /end foreword
The SEC WCM777 Ponzi complaint opens with the SEC providing some background information on the scheme:
This matter involves an ongoing pyramid scheme, Ponzi scheme, and misappropriation of investor funds through an unregistered securities offering that targets members of the Asian-American and Hispanic-American communities, as well as foreign investors.
That TelexFree are actively targeting Hispanic-American communities is no secret. In a spammy paid advertisement for TelexFree, eReleases recently wrote
You say you haven’t heard of TelexFREE? Then you probably aren’t one of the more than 1 million Portuguese-speaking residents of the Commonwealth of Massachusetts.
Before TelexFREE, Portuguese speakers calling home to Brazil or Portugal were paying high international rates or suffering the frustration of trying to teach elderly parents how to use Skype…after they taught them how to get online.
As for the Asian-American community, Randy Crosby, credited as a “TelexFree leader”, recently revealed on an affiliate investor call that the company had “opened an office in Hong Kong”.
Whether or not this will translate into targeting of the Asian-American community remains to be seen but by establishing roots in Hong Kong, TelexFree appears to be adopting a proactive approach to securing Asian-American investor funds.
Moving onto WCM777’s business model, the SEC wrote that the company
do(es) not realize any appreciable revenue other than from the sale of “packages” of cloud services to investors.
WCM777 is not profitable, and is a pyramid scheme. Defendants use some of the investor funds to make Ponzi payments of returns to investors.
To date TelexFree have never released figures detailing how many non-affiliate VOIP customers they have, versus “VOIP contracts” purchased by affiliates to qualify for commissions.
In another paid advertisement, in which TelexFree accuses the Rwandan Ministry of Trade and Industry of lying after they recently banned the company from operating in Rwanda, TelexFree claims to have ‘half a million customers worldwide‘.
How many of these customers are unused commission qualification positions is unknown, but in the advertisement TelexFree claims they ‘booked 10,859,669 minutes of VOIP calls internationally‘ last month.
This equates to 21 minutes of monthly calls per TelexFree VOIP account, or just 43 seconds a day of VOIP calls in a standard 30 day calendar month. At $49.90 a month, why TelexFree’s VOIP service never caught on should be obvious.
Infact, and again sourced from one of eReleases paid advertisements, TelexFree owner Jim Merril revealed that
We have been in VOIP telecommunications for more than a decade; but it wasn’t until about two years ago that we found a niche community that expressed such overwhelming need for our product. Combined with a distribution method that takes our services to them economically.
As per Merril’s confession above, it wasn’t until TelexFree began accepting $299 investments in AdCentral positions from affiliates that anybody started to use their VOIP service.
These AdCentral positions were invested in by affiliates on the promise of a 52 week $20 weekly ROI, as advertised by TelexFree themselves on the company’s website:
Via a series of five “plans” bundled with cloud-computing services, WCM777 accepted investment deposits from affiliates ranging from $399 to $1999:
And here’s what the SEC thought about that:
In the WCM777 offering, Defendants offer and sell five different levels of “packages” of cloud-based computing services. In addition to the computing services, each package level promises returns in the form of cash and “points.”
Each of the five different levels of membership units purport to provide purchasers with some combination of cloud computing services, with more services being provided to members who purchase higher levels.
Each of the five levels of packages promises to pay a return in 100 days, which is called the “Global Business Bonus.”
The first four levels of packages promise to pay a total return of approximately 100% of the amount invested, with half paid in cash and half paid in points.
The fifth, or highest, level offers to pay a total return 160% of the amount invested, with half paid in cash and half paid in points.
Thus, the fifth level offers to pay an 80% return in cash in 100 days. The packages and the points are also securities in the form of investment contracts. They represent an investment of money, in a common enterprise, with the expectation of profits to be derived from the efforts of a third party.
The investments purportedly gain in value depending on the success of the WCM777 enterprise, and returns are based on, among other things, its growth and profitability.
It should be noted that WCM777 did not offer their cloud service at a retail level, whereas TelexFree does have a retail VOIP offering. That said TelexFree began forcing affiliates to purchase “99 TelexFree” VOIP services beginning mid 2013 if they wished to invest in AdCentral positions.
As I’ve mentioned previously, to date TelexFree have failed to release any figures on their retail VOIP sales figures. Personally, based on comments made by TelexFree affiliates trying to market the service, I believe anything north of 1% would be optimistic at best.
In any case, one can simply substitute WCM777 and their cloud-service mentioned in the extract from the SEC complain above, and it still reads as accurately as the original.
In the TelexFree AdCentral offering, Defendants offer and sell AdCentral “packages”. In addition to the VOIP service, each package level promises returns in the form of cash.
Each AdCentral membership units purport to provide purchasers with some combination of VOIP services, with more services being provided to members who purchase more AdCentral positions.
Each AdCentral position promises to pay a return in 52 weeks, which is called the “be our promoter bonus.”
The AdCentral packages promise to pay a total return of approximately 347% of the amount invested.
The AdCentral positions are securities in the form of investment contracts. They represent an investment of money, in a common enterprise, with the expectation of profits to be derived from the efforts of a third party.
The investments purportedly gain in value depending on the success of the TelexFree enterprise, and returns are based on, among other things, its growth and profitability.
It almost fits too perfectly.
Note that the 347% ROI was calculated by multiplying the advertised $20 a week ROI by 52 and then dividing it by the initial $299 investment.
Top TelexFree affiliates purportedly have thousands of open AdCentral positions, which, despite the SEC investigation and recent changes made to the compensation plan, TelexFree have promised to continue to pay out $20 a week ROIs till the positions expire.
Looking forward it’s noted that the WCM777 SEC investigation began in earnest last October, which means it took them roughly six months to shut the scheme down.
When exactly the TelexFree investigation began is unclear (the SEC do not publicly comment on open investigations), but TelexFree revealed they were first ordered to hand over documentation to the agency back in April 2013 and again in January of this year.
With a much broader affiliate investor-base and charges of money laundering and embezzlement being raised in Rwanda and Brazil, I imagine the scope of the SEC TelexFree investigation is much more complex.
To his credit, when Xu became aware he was being investigated he immediately “closed” WCM777’s US operations. Xu did keep affiliate investor money already deposited but, at least on the public record, put a stop to new US investor funds entering the scheme.
TelexFree meanwhile if anything are amping up their recruitment efforts in light of their SEC investigation.
Company owner Carlos Costa recently cut a video sharing his TelexFree investment strategy. In addition to the newly announced office in Hong Kong, Randy Crosby invited “Stephan” to speak on the previously mentioned TelexFree affiliate call.
Stephan, who Crosby introduces as being “out of Haiti”, tells listeners:
[32:28] We have meetings going on every day and today I have a meeting at 5pm. I’m going to get ready to go after the call here.
[32:54] This is amazing, TelexFree is the real deal. People need to join ASAP. Don’t think twice. Whoever invited you to this call, they love you, they care about you. Join TelexFree.
This is the company of the future. And right now I know that alot of you on the call need this opportunity. That’s my message to you: Join TelexFree ASAP.
For those unfamiliar with the Caribbean nation, Haiti is “the poorest country in the Americas“.
Footnote: The Randy Crosby TelexFree affiliate investor call cited in this article can be listened to below in its entirety.
The call is believed to have taken place over the last few days, having been only recently uploaded just a few hours ago:
Another scam is falling down,
Falling down, falling down.
Another scam is falling down,
But it’s not the last one.
:-p
I’ve been reading the same old story over and over again, the same blogger, selling the same idea, back in mid 2012 you started with your critics and so far more than 5,000 people have become millionaire while you keep wasting energy and time posting nonsenses on this website!
Poor you, I’d like to know how much have you made so far, cause i’ve made more than 1 million dollar… love and respect!
Since then TelexFree have been banned in multiple jurisdictions. They’ve been shutdown in Brazil under suspicion of money laundering, embezzlement and Ponzi financial fraud. Now they’re under investigation in the US for the same.
Timeframes are irrelevant, TF is just as much a Ponzi scheme today as it was back in 2012.
But please, continue to sing the merits of your hip pocket and your 5000 millionaire friends (the bullshit is thick with this one).
It takes a certain type of person to see the good in the wholesale ripping off of hundreds of thousands of people just to earn a buck.
5000 people becoming millionaires would mean 5 BILLION dollars paid out, which presumably means a lot more than 5 billion dollars of business done. Yet there is no proof of such business, is there?
You ought to check the stuff coming out of your mouth and make sure it makes sense before you utter it.
And 5000 millionaires is probably close to what Google and Microsoft has made together.
But you have to forgive those TelexFree people, they don’t know how to add up the facts. Their “team leaders” loves to create these fantasies so these kids (that probably also believe in fairytale) would have something to say to bring new people into the scheme.
They can’t understand that if money were so easy like they teach, why the already millionaires (that earned their money outside those companies) never join this kind of stuff?
Imagine how would it be to have a ROI of 52 weeks in a 100 million investment and still get paid after this until the end of the contract, sweet! Oh yeah, they would probably break after having to pay more than 300 million to a single person.
If you multiply this delusion by 20 and note a minor caveat, you’ll arrive at the Andy Bowdoin delusion of $100 billion from the ASD Ponzi scheme in 2008.
Caveat: Andy gave himself TWO years to create 100,000 millionaires. Court records, to date, suggest that Bowdoin and “Russian hackers” were the only “millionaires” he created.
Andy swiped just over $1 million for himself, and the hackers purportedly stole $1 million.
I suppose it could be argued that Bowdoin created a few millionaires in absentia among the ASD membership ranks, given the curious money flow and specific denominations seen parked in his 10 seized bank accounts. (Three of Bowdoin’s accounts mysteriously contained the exact same sum: $1,000,388.91)
Despite his claim he was a millionaire-maker who would put $100 billion on the table, Bowdoin curiously complained that he was creating near-millionaires within the attorney ranks. He said he spent “over a million dollars on legal fees . . . to stay out of prison.”
It didn’t work over the long haul, but did become a memorable piece of Ponzi history.
The man who effectively bragged he’d create an average of 4,166 “advertising” millionaires per month over two years thought it outrageous that lawyers received “over” $1 million during a period of 13 months between August 2008 and September 2009.
PPBlog
Make a circle with your index finger and thumb and move it up and down a million times.
Alex,
You’re right, they are an echo chamber. I have to hope that they are doing this for something. Hopefully, someone is paying them or it is too sad.
Oz, if you have to force facts and change things to fit then you gotta realize that something in your analysis (word used loosely) is wrong.
What no one on this page seems to accept is that the government and regulators have very different interests than you do.
Alex,
Keep counting your money and laughing at them. They are so right…so right..let them be right. Whenever they resort to insulting you it demonstrates their own level of intelligence.
No matter what you have to ask what has their panties in a bunch! I think they all have to wear panties (listening to the incessant whining) because Dorothy is the only one who sounds like she may wear boxers or briefs. But, she is mean as a snake. She hates people’s little kids and wishes them ill. It is unbelievable.
For the record, no facts were forced and nothing was “changed to fit”. Raw substitution was all it took.
Regulatory interests are openly available on their respective websites. The SEC don’t take kindly to Ponzi schemes.
But please, continue to delude yourself thinking otherwise. The SEC shut down WCM777 because they didn’t like Ming Xu’s fashion sense. That’s probably it.
Do all scammers read the same textbook? That sort of speach can be heard from Telexfree’s brazilian (fake) millionaires.
Is it just an attempt to keep people thinking their scam is legal and “life changing” or is it some sort of freudian-like psychological disorder?
Scammers and their twisted minds…
I’ve been covering the MLM industry for a rough half-decade. The companies and players are dynamic but the underlying tune never changes.
Hey – The Bow Ties and Don Johnson wardrobe from Miami Vice is nothing but cool!
LOL, please. If you made a million dollars why do you feel the need to post on this site? Bernie Madoff made over a million dollars but that doesn’t make it right.
Telexfree was fined again. This time the fine was ninety-eight million reais. Carlos Costa speaks of the new penalty after 17 minutes of the last call, the 35. Again Carlos Costa introduced the fine like a good thing.
….in the same way that losing only one leg is a good thing; since it could have been both and the the patient is not dead yet. .
source of this fine?
@Shy
Ralph Lauren Boxers thank you. I wear them when I’m pinching babies and stealing lollipops from orphans.
I find it scary that I share a planet with people that reason like you.
Are you suggesting instead that they have common interests with you?
Latest Carlos Costa’s video (number 35). TF was fined by the RFB (the brazilian IRS) three different values (for three different infractions) in a total of R$ 98,941,458.25 brazilian reais.
Isn’t that nice? At least CC think it is awesome.
@ shy danielle
What flavor of Koolaid do you drink?
It is awesome, the more they get fined, the less their “team leaders” will receive in the end.
Either TelexFree never paid Botafogo football team… or Botafogo is as crooked as TelexFree… since the players are going on strike due to owed wages.
http://www.vavel.com/br/futebol/botafogo/343158-jogadores-do-botafogo-protestam-e-marcam-greve-devido-aos-salarios-atrasados.html
it’s not the first time that Botafogo is related to pyramid schemes, in 2012 Herbalife was their sponsor:
http://www.lancenet.com.br/botafogo/Botafogo-anuncia-Herbalife-patrocinador_0_662333896.html
Since Telexfree’s accounts have been frozen in Brazil where is the money coming from to pay the taxes in Brazil as well as the football team?
Given the scale and reach of TelexFree and the use of anonymous payment processors, it’s not hard to imagine international money laundering / money transfers being the order of the day.
Perhaps this is where the money from the “unrecognized” Rwanda group went to via Germany and USA.
From where i live, the TF “boom” hit on 2013 Summer, but had been active since November 2012.
Like an epidemic it was a matter of a couple of months until it become quite popular. By November of 2013 we had roughly 40k citizens (or accounts, no one knows for sure where this data come from) in a 260k population island.
Thought approach several times by several friends and acquaintances, i refused each time to take part of something that could clearly be seen as an ilegal pyramid scheme. And i’m not very fond of making money on others expense.
Trying to explain to those same persons the erratic natura of their ‘business model’ was quite the challenge. Being considered an envious person or just quite ignorant by those same people, it kind of amused me, since i’ve been working on web development since early 1999 and i had a clear idea of what’s going on on the internet nowadays.
The funny thing now, is that since early February i haven’t heard a word from any of those ‘friends’ regarding TF. Instead, a new epidemic is now surging. The “forget TF this scheme is way better” epidemic. It’s WINGS, Weynard, Kingdom777, etecetera.
Funny thing is, with a brief search on google, you find out that some of them are on their end-life, but people keep digging their holes even deeper.
Ultimately, i figure there are 2 types of people that get into these schemes. The ones that are aware of what it is and have the capabilities of ‘gathering’ a lot of ‘ignorants’ to that scheme. And the ones that believe in the previous, which i automaticly consider extremely ignorant and/or with a very low IQ.
I just believe that the law should also hit hard on these gatherers. They keep re-cycling their schemes, and somehow, manage to come out of it has some kind of martyr/victim ready to “help” their sheep into the next big scheme.
Just my 5 cents, carry on the good job. Great source of information.
BTW, the island i’m talking about is Madeira Island.
Here’s the REALLY hilarious part… TelexFree just declared all of their affiliates to be liars… If they ever claimed TelexFree is a 14 year old company.
To distance itself from the Rwandan government declaration, TelexFree basically claimed that “They said TelexFree is 14 years old. That’s not us, we’re only 2 years old. ”
Yet if you search “TelexFree 14 year” you’ll find 444000 results in Google, and only a few hundred are repeat of news and the press release. And these websites are all over the world, in various languages, on Facebook… etc.
TelexFree is now so desperate it is claiming that its affiliates are liars.
http://amlmskeptic.blogspot.com/2014/03/bad-propaganda-how-telexfree-just-made.html
A problem here is that Carlos Costa is the PRIMARY source for information about the taxes / penalty taxes. 🙂
The documents he showed initially (in the R$70 million story) were around 1 years old, from March or May 2013 = from BEFORE TelexFree was shut down in Brazil.
@ Chang
OMG These guys are a piece o work…lol.
I love the “As far as we can tell” lead in to their statement. It’s right up there with Steve Labriola’s “We are not being investigated by the SEC because they didn’t ask us out for lunch to discuss an investigation” ( I know, that was a bit of an exageration) : )
The 14 year statement from this company has been out there on the internet from the begining to try and give the company legitimacy through longevity. It’s right up there with Merrill standing in front of a huge building giving the impression that Telexfree occupied the entire builing when in fact they leased a closet. You can still find multitudes of sites that give the impression that Telexfree has huge office buildings all over the world.
The next thing they’ll be telling everyone is that the shot of Merrill in front of the Hummer, in front of the office building was that, “That’s where the bus dropped him off for work and he just happened to be standing there when the picture was snapped” lol.
These Tele-no-truth guys really think the world is full of schmucks and all are going to believe their back peddling foolish stories and fake news articles.
Great sign of arrogance on their part. I supose that’s one of the characteristics a person would need to follow through with this amazing scam.
Unfortunately tf is heading down the road of I told you so’s..
Thank you for your work Oz. The faster Telexfree dies out the better.
Although… some people are still delusional of the fact that Telexfree is going to die soon – the others that I show your reviews to are smart enough to know that they’ve been duped… and they cry.
I’m not sure what to do to the people who are too brainwashed… And I’m not smart enough to know what to say to those who cry but to not be bought into another scam.
Once again, I am thankful of your reviews no matter what state of emotion others go. As long as the truth is shown… I’d probably still be a mindless TelexZombie if I didn’t find your website.
Guys, looks like TF stopped paying on old contracts. May be related to a regulatory shut down. Owners ate MIA. You should check it kut. Loys happening now. Looks like you had TF pegged afterall.
Not surprised, it was just one of the many white elephants in the room. So what are they going to do, refunds?
TF’s business model pegged them, we’ve just been stating the obvious for the better part of two years.
Seems like they’re pulling a bait and switch on the old contracts, and have now (temporarily?) frozen all funds within the scheme.
As I understand it (translating Portuguese so might not be accurate), everybody now needs to have 5 paid VOIP accounts under them and have recruited at least two affiliate who in turn also have 5 VOIP accounts under them.
We all know why they don’t (kaboom!) but if the SEC have made them terminate the Ponzi, they should at least offer refunds to their investors.
As usual the TF website is showing no compensation plan changes since March 10th. What a shambles.
Maybe all those fines in Brazil finally caught up with global cash flow?
Or maybe you should check the date?
Wasn’t there some fines after the initial?
And sooner or later $70 mil would have an effect on cashflow anyway, remember these are 52 week payouts.
(if I’ve messed anything up I apologise in advance, I have the worst cold at the moment and get severe headaches if I try to concentrate on anything for more than 5 minutes, hence the lack of articles over the last few days).
My reasoning was maybe they paid the fine march 2013 thinking it would be clear sailing. Then they got shutdown in Brazil and now the US is looking rocky.
Withdrawal limitations are typical of cashflow problems.
The primary source for that R$70 million fine was a video with Carlos Costa himself, showing some documents from May 2013?
I haven’t checked the second fine (R$98 million or so?), but the first one was questionable. The second fine seems to be based on the same type of source = Carlos Costa’s videos.
Today’s date is April 1st. Shy Danielle’s “update” can probably be interpreted within that context.
April Fools?
I had a poke around TF’s Facebook page. Unless all the Brazilians are in on it too?
I saw a few comments about no payment, the qualification changes and lack of “repurchases”. I’m not ready to call April Fool’s yet.
Also not enough information for a separate article either so I guess we’ll just let this one develop.
In other news Acre has filed for an injunction against Judge Borges R$500,000 burden of proof decision.
http://g1.globo.com/ac/acre/noticia/2014/04/pge-ac-entra-com-recurso-contra-pagamento-de-pericia-da-telexfree.html
IT is true. I have old contracts with TF and TF has my accounts frozen. They are not paying old contracts.
Apparently, I was obligated to get into the new comp. plan, recruit 2 members and have 5 clients in order to get paid. However they did not disclose this in boston. I was told everything was going to be the same with the old contracts.
After I bumped into this website I decided to not get involved in the new comp. plan. Also, called the number they send me on my 1099 & it is not TF.
Also called customer service & they have me on hold for like 20min. then someone picks up the phone but hangs up right away. wow.
There’s nothing wrong with that part of the story. Globo has usually been relatively reliable.
Source for the R$70 million fine / penalty tax was Carlos Costa himself?
One of the Brazilians pointed out several issues:
* the tax code 0588 (6:45 into the video)
* the tax percentage 8.92% (19,035,391 +8.92% = 20,733,348)
* the date 20/05/2013
* One of the papers he waved also showed 75% penalty taxes for the tax year 2012 (5:00 into the video), for the 12 months from January 2012 to December 2012.
Source for the R$98 million fine was post #15 in this thread, with no external sources.
Seems like indeed Telexfree has limited transfers to ewallet and between “promoters” unless they comply with the new plans. Doom is upon this ponzi with lots of ex-teletubbies switching to UNETENET.
Check it out OZ, looks like someone decided to copy the old Telexfree scam.
(Ozedit: BehindMLM Unetenet review is here – https://behindmlm.com/companies/unetenet-review-franchise-investment-scheme )
I’ve seen a lot of people raging about it in TF’s Facebook page. Isn’t this “you cannot withdraw any money” thing one of the last steps before a scam falls down?
As Carlos Costa says, “the victory is near”. Yeah… it sure is… LOL.
Think Telexfree is done, as in not paying any longer. An announcement was posted on Telexfree site to the affect old contracts must abide by rules which seem similar to new contracts, and the site will not allow anyone to complete a payment request.
This is the second Tuesday (payday) in a row that people have been unable to request funds.
Promoters and police storm txfree office:
this is the fb page…its all kickin off in here…all in english
https://www.facebook.com/groups/telexfreestrategy/?fref=ts
Which office is this? The guy speaking (Santiago) is speaking spanish, but the cops are speaking english.
It makes me feel kind of sad for the people trying to get some answers, you can hear the concern and worry their voices.
It’s the US office, I recognise the windows.
I *think* the cops were called due to affiliates storming the building again. Likely due to neighboring companies complaining about them blocking the building.
There’s another video with Labriola shouting at affiliates, I think that came first before the cops were called.
Interesting they shoved Santiago de la Rosa out there to face the music, speaks volumes about the leadership. Labriola was probably too busy on the phone again.
Let me put up what I’ve pieced together and we can discuss it from there.
There’s already another video with Steve Labriola giving an “explanation” after trying to get everyonr to turn off cell phones.
Bear with me guys, I’m putting everything together so we have a clearer picture of what’s going on. Article will be up shortly.
Here’s another video of the promoters storming the offices. Sadly there’s no real content on this video:
I just got of the phone with a TF promoter it is true, people aren’t being able to get the money out. Also I’ve learn that today dozens of angry TF ‘investors’ went to TF office in Marlboro MA trying to find out what is going on with their ROI guaranteed.
Some of them fainted over the news that they have to pay for 5 VOIP ant put some more people onto the scam in order to continue receiving, because that means having to work!
they were used to pay third party to do all the work of placing ads as they were relaxing and thinking of how many ways they could spend their ROI guaranteed
Can someone translate what Carlos Costa is saying in the video just released?
It is true people aren’t getting paid for the last 2 weeks
I don’t know how I am going to pay my bills I should have listened to you guys
@ Mauricio
What CC is saying is that in order to comply to a number of countries because of all the suspect scam behavior of TF they decided to suspend all payments to all the ones that already made their money back but the ones that still didn’t make yet.4
The suspended credit can be applied to the new plans for paying invoices for instance. Anybody who still has any credit must find 5 paying customers and get 2 more promoters under with 5 customers each one in order to cash the credits.
Also he remind everyone that TF is indeed a God’s company since is still up and running after all the heavy attacks it is been under.
He also thanked some people for gifts and remind the affiliates not to join others pyramids because in his own words TF is the real deal.
@shy
In a matter of a few days????? really?? Your a piece of Shyt work Danielle.
Go post your crap on Telex facebook where mediocrity thrives. Get lost and stop stinking this space up.
New article is up, migrate discussion on the recent events there (easier to keep track of).
https://behindmlm.com/companies/telexfree/police-called-in-after-telexfree-change-old-contracts/
I’m going through through the Carlos Costa video now to see if I can make sense of it (thanks for the translation above privateye). Also thanks for the heads up via emails and comments from readers.
I don’t speak Portuguese, just spanish but I watched the video and understood quite a lot. It would still be a good idea to wait for an better translation.
He starts by talking about a seminar on Brasil, then proceeds to thank a few people he met there.
Then he claims the company (TF) was forced to make some changes in order to prove that they were legal. That they had no choice on it.
He then proceed to talk about how to transfer money from one account to another but I couldn’t get much of what he was saying there. (He does refer to people as investors and talks about return of investment)
He then says that all the changes made were in order to conform to the laws put in place and to show that TF is a legal company.
He then starts to explain that the new comp. plan has been a success and after some confusion promoters have finally understood it and are starting to reap the benefits.
He also gives a few stats:
250,000 new promoters
2,500,000 VOIP accounts sold
11,000,000 minutes used by clients.
1,350 have installed the android telexapp
He then claims this proves the company is walking forward and growing.
He shows a picture of a gift sent to him a “successful promoter” thanking him for changing his live.
Then he tells promoters to trust in the company, that now is it’s greatest time. He repeats that TF is legal and the recent changes were imposed on them, and it felt like chopping one of their arms (as in it hurt him having to make those changes).
That’s what I got from the video.
And you really BELIEVE what CC said, after so many lies from him? You have heard of the “boy who cried wolf” story, yes?