Company announcements, direct sales updates and archived press coverage associated with TelexFree.
A class-action lawsuit has been filed against TelexFree Inc., consolidating the complaints of at least 780,000 alleged victims and accusing the company, its principals and top promoters of "knowingly, maliciously, and willfully" conspiring "to perpetrate...the TelexFree pyramid scheme with full a...
Read full storyThe court-appointed bankruptcy trustee in the TelexFree case said in a recent filing that the company took in over $1 billion in only 16 months from almost 1.9 million participants. Stephen Darr, the trustee, said he could not be certain the information was accurate because "the physical books an...
Read full storyAt least $153 million could potentially be used to settle claims of people who can prove they were defrauded by TelexFree Inc. For most, it will be a long wait before they receive any of their money back. $3.5 million which resulted from a settlement by Massachusetts Secretary State William F. Ga...
Read full storySeptember 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 Rodri...
Read full storySeptember 19, 2014 -- An ad hoc committee made up of approximately 100 former TelexFREE representatives and claiming to represent all victims of the company has urged the court to prevent the legal payments of millions of the nearly $300 million prosecutors estimate the company took in over that ...
Read full storyAugust 8, 2014 - Boston, MA -- In response to a civil suit filed against him by the SEC, TelexFree Inc.'s accountant, Joseph H. Craft, said he didn't assist in any wrongdoing and asked to have the charge against him dismissed. Craft, who was not an employee of TelexFree, performed accounting serv...
Read full storyAugust 2, 2014 -- Criminal and bankruptcy authorities are going after nearly $97 million in assets in order to repay people claiming to be victims of the alleged pyramid scheme or to fund law enforcement activities. The assets include cash, checks, bank accounts, high-end automobiles, boats and r...
Read full storyTelexFree co-owners Carlos N. Wanzeler and James M. Merrill, founders and owners of Marlboro, Massachusetts based TelexFree, were indicted Wednesday on charges of wire fraud and conspiracy. Wanzeler and Merrill were charged Wednesday with a nine-count indictment in U.S. District Court in Worceste...
Read full storyJuly 14, 2014 -- U.S. prosecutors asked the U.S. District Court in Boston to deny James Merrill's request for access to $4 million in funds currently frozen by the Securities and Exchange Commission. Merrill, a co-founder of TelexFree, requested access to the funds to help pay for his defense. U....
Read full storyJuly 2, 2014 -- Lawyers for TelexFree president and co-owner James Merrill filed papers Tuesday in the U.S. District Court in Worcester, MA, requesting the release of more than $4 million from frozen bank accounts to pay for his defense. Merrill's attorneys said that the amount they are requestin...
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