TelexFree is a multilevel marketing company launched in Brazil in January 2012 that offers telephone service as well as an opportunity for members to earn income by publishing advertisements on the internet.
TelexFree’s product, 99TelexFree, is a phone service app that costs $49.99 per month and allows customers unlimited calls to cell phones and landlines within Brazil, the US and Canada.
TelexFree members pay $299.00 annually for each membership position, called an ‘’AdCentral’’. Each member may have up to 5 accounts, or an ‘’AdCentral Family Membership’’, for an annual cost of $1,375.00. The 5 memberships may be purchased in a lump sum or over time. TelexFree AdCentral Members are required to publish at least one preselected advertisement per day to the free classified ad sites on the internet.
TelexFree members earn commission on the sale of 99TelexFree subscriptions and the publishing of ads on the internet, $20 for the recruitment of each new member purchasing an AdCentral Membership and $100 per recruitment of each new member purchasing an AdCentral Family Membership. TelexFree has a binary compensation plan for commissions on the recruitment of new members and a 5X5 matrix compensation plan for commissions generated by the sale of 99TelexFree plans.
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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 Wanzeler, who is a fugitive living in Brazil.
Merrill's lawyer submitted dozens of written stateme...
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 Rizerio Rocha, 28, was charged in a criminal complaint with one count of conspiring to commit money ...
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 to $1.8 billion.
TelexFree originated in Brazil before moving operations to Marlborough, MA...
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 to the warrant must be supressed." During the raid of TelexFree's offices, Homeland Security agent...
Claims Against TelexFree May be Filed Starting April 1
February 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 Department of the Treasury, to ensure that money is not being paid to terrorists or traffickers. The...
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