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Source: Npros.com 9/18/2014

Group Represents TelexFREE Victims

September 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 last two years.

According to bankruptcy court records, three law firms have asked the court to release funds for legal counsel provided to TelexFREE when it filed for bankruptcy in April. A letter filed by a lawyer representing the victims' committee asked the court to either disallow the firms' applications for payment or postpone a decision on them until an official committee to represent TelexFREE's creditors has been created by the bankruptcy trustee.

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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... Read More...

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.

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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...