Source: 6/18/2014

Judge Allows Bail for TelexFree Co-Owner

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. His business partner, Carlos Wanzeler, fled to his native Brazil shortly after federal agents raided TelexFree's offices in April. Under Brazilian law, he cannot be extradited to the U.S.

The judge cited Merrill's "strong family and community ties" in his decision, noting that Merrill and his wife have been married for 23 years, have lived in Ashland, MA since 1997, and have three children. In addition, he cited Merrill's record of coaching youth sports and his lack of a prior arrest record.

Merrill will be required to wear a GPS ankle bracelet and be placed in his wife's custody. He must remain in his house every day from 8 PM to 8 AM and must relinquish his passport.

View TelexFree Review

Related News

  • 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 Wanzel... 

  • 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 ... 

  • 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 ...  Read More...
  • 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...  Read More...


TelexFree News Archive

New Companies on Npros

Receive News and
Updates from

 Send me news updates
 Send me New Companies

RSS Npros News Feed