Company announcements, direct sales updates and archived press coverage associated with TelexFree.
February 22, 2018 -- Carlos Wanzeler, the fugitive co-founder of TelexFree, was stripped of his Brazilian citizenship last week -- an unusual move by the Brazilian government which may open the door for his extradition to the United States. Wanzeler left the United States for Brazil the day feder...
Read full storyJames 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 Wanzeler, w...
Read full storyJanuary 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 Rize...
Read full storyWorcester, 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 clos...
Read full storyAn 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 pursua...
Read full storyFebruary 28, 2016 -- Alleged victims of TelexFree, Inc. will be able to start filing claims online on April 1. Telexfree's bankruptcy trustee has been contacted by alleged victims from as far away as Russia and China. Claims will require approval by the Office of Foreign Assets Control of the US ...
Read full storyJanuary 21, 2016 -- A former top rep with TelexFree is being held in jail in Florida on a contempt charge after failing to return assets that securities regulators had frozen. Sanderley Rodrigues de Vasconcelos, also known as Sann Rodrigues, was arrested in May on visa fraud charges after he pres...
Read full storyA federal bankruptcy judge formally ruled that TelexFree "operated a Ponzi and pyramid scheme" and that the company is liable for claims made by investors. Stephen Darr, the trustee overseeing TelexFree's Chapter 11 case, requested the court's ruling and asked Judge Melvin Hoffman to suspend all ...
Read full storyDuring a recent hearing, lawyers in the TelexFree case asked a federal judge to delay the trial of TelexFree principal James Merrill from April to November 2016. Merrill is under house arrest at his home in Massachusetts, awaiting trial for fraud. Both the Assistant U.S. Attorney prosecuting the ...
Read full storyAugust 14, 2015 -- Thousands of former TelexFree customers have received checks from a $3.5 million fund set up by Fidelity Co-operative Bank of Fitchburg, MA as part of a settlement with the Securities Division of Massachusetts last year. The bank was accused of inadequate oversight and failure ...
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