July 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 requesting be made available is based on the magnitude of the crime he has been charged with, and the costs of defending white-collar cases such as his.

Also included in the filing was a petition to the court to release funds that attorneys say are related to Merrill's commercial cleaning business and not TelexFree, a request that was unopposed by the SEC.