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Source: Npros.com 1/19/2016

TelexFree Rep Jailed for Contempt

January 21, 2016 -- A former top rep with TelexFree is being held in jail in Florida on a contempt charge after failing to return assets that securities regulators had frozen. Sanderley Rodrigues de Vasconcelos, also known as Sann Rodrigues, was arrested in May on visa fraud charges after he presented a green card to Customs and Border Protection offices at Logan International Airport that he allegedly obtained based on false statements. He was confined to his home and had to surrender his passport and the passports of family members while awaiting trial.

Rodrigues had been given a deadline of January 15 to return $233,473 transferred out of his bank accounts, as well as the proceeds from the sale of real estate and cars. When he failed to do so, he was arrested.

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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.

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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...