Company announcements, direct sales updates and archived press coverage associated with TelexFree.
June 17, 2014 Worcester, MA -- A federal judge ordered that TelexFree co-owner James Merrill be released on bail while awaiting trial for fraud, saying that prosecutors had not proven that he would flee if released. Merrill has been held in a Rhode Island detention center for the past five weeks....
Read full storyBoston, MA -- Stephen B. Darr, Senior Managing Director of Mesirow Financial Consulting in Boston, has been appointed the Chapter 11 trustee for TelexFREE. Darr will take over management of TelexFREE through the company's bankruptcy. Meanwhile, three class-action lawsuits seeking in excess of $10...
Read full storyJames Merrill, co-owner of TelexFree Inc., was denied bail by a federal judge in Worcester, MA, pending trial for allegedly committing fraud and operating a pyramid scheme. Prosecutors said Merrill has access to hundreds of millions of dollars in accounts around the world and motivation to flee b...
Read full storyMay 15, 2014 -- Federal Agents arrested TelexFree co-owner Carlos Wanzeler's wife, Katia, at JFK International Airport as she was about to board a flight with a one-way ticket to Brazil on Wednesday night. Carlos Wanzeler drove into Canada as agents raided the TelexFree offices in April and flew ...
Read full storyMay 10, 2014 -- The owners of TelexFree were criminally charged in federal court Friday with conspiracy to commit wire fraud. James Merrill was arrested Friday afternoon in Worcester, MA. An arrest warrant was also issued for Carlos Wanzeler, who is believed to have fled to Brazil and is now cons...
Read full storyMay 8, 2014 -- Lawyers for the Securities and Exchange Commission said they believe that TelexFree co-owner Carlos Wanzeler has left the U.S. for Brazil. Since no criminal charges have been brought against anyone in connection with the case, Wanzeler is free to travel. Federal and Massachusetts r...
Read full storyTelexFREE, which was shut down recently by regulators in the U.S., has registered as a business in Richmond, British Columbia. James Merrill and Carlos Wanzeler, who are charged with running a pyramid scheme in the United States, are listed as two of the company's directors in the Canadian busine...
Read full storyAccording to the Boston Globe, Federal Securities regulators filed a motion requesting the bankruptcy judge in the TelexFREE case to move the case to Massachusetts. According to the filing, the hastily filed bankruptcy on a Sunday evening in Las Vegas, just two days before the Marlboro, MA TelexF...
Read full storyMARLBOROUGH, Mass., April 18, 2014 -- TelexFREE LLC issued the following statement: Earlier this week, TelexFREE filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code. The Chapter 11 filing is intended to protect TelexFREE assets, quantify legitimate claims, restructur...
Read full storyMarlborough, MA, April 18, 2014 -- The chief financial officer of TelexFree, Joseph H. Craft, was stopped by a deputy sherriff as he attempted to leave during federal agents' search of TelexFree's offices this week. Craft told the deputy he was only a consultant assisting TelexFree with its bankr...
Read full story