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Source: Npros 10/2/2014

Warning Issued Against iFreex, Possible Offshoot of TelexFree

September 30, 2014, Worcester, MA -- Massachusetts Secretary of State William F.Galvin is concerned that a new phone service app is an offshoot of TelexFree and is warning people to be wary of investing in iFreex. Complaints have been made against Sanderley Rodrigues de Vasoncelos (AKA Sann Rodrigues), who was once a top rep to TelexFree and has said on his Facebook page that iFreex "would be the new TelexFree", a news release from the secretary of state's office said. Mr. Rodrigues has been charged by the SEC in the TelexFree case and was charged in a similar scheme in 2006.

"iFreex appears to have many of the same characteristics as other pyramid schemes the Securities Division has recently brought actions against, including Wings, TelexFREE and WCM777," the news release said.

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Related News

TelexFree President Sentenced

James Merrill, former president of TelexFree, was sentenced on March 22 to six years in prison and three years of probation. Merrill pleaded guilty last October to one count of wire fraud conspiracy and eight counts of wire fraud.

Merrill founded TelexFree with business partner Carlos Wanzel... Read More...

Agents Seize Approximately 20 Million in Scheme to Launder TelexFree Funds

January 26, 2017(Boston)--Approximately $20 million in cash hidden inside a box spring in a Westborough, Massachusetts, apartment was seized late yesterday, and a Brazilian man was arrested in connection with conspiring to launder proceeds of the massive TelexFree pyramid scheme.

Cleber Rene ... Read More...

TelexFree President Pleads Guilty

Worcester, MA - October 25, 2016 -- James Merrill, president of TelexFree, pleaded guilty to one count of wire fraud conspiracy and eight counts of wire fraud in U.S. District Court. Prosecutors called TelexFree one of the largest Ponzi schemes in history, with nearly 1 million people losing close ... Read More...

TelexFree Exec Requests Suppression of Evidence

An attorney for James Merrill has requested suppression of evidence seized during a raid of TelexFree's offices in April 2014. In a court filing, Robert Goldstein said the document seizure was "unconstitutionally overbroad" and that his client "respectfully submits that all evidence seized pursuant... Read More...