Recent Stories

...

Court Upholds Huge Damages Verdict Against ViSalus
August 20, 2020 -- A federal judge recently upheld a $925 million judgement determined by a jury in April 2019 in a clas...8/20/2020

Kristi Hubbard Appointed Younique President
LEHI, Utah, July 8, 2020 -- Kristi Hubbard, a direct-selling executive leader with a strong record of success, has been ...7/10/2020

Source: Npros.com 2/28/2016

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 online claim system will be available in English, Spanish, and Portugese.

Claimants will have to wait months for any potential repayments, as funds that were seized from TelexFree by Federal authorities will not be release until a verdict is reached in the government's criminal case against the company and its former owners.

The trial is scheduled to begin in October. James Merrill and Carlos Wanzeler are both facing criminal and civil fraud charges. Merrill was released on bail with a GPS monitoring device, while Wanzeler fled to his native Brazil before being arrested. US authorities have been negotiating to bring him to Massachusetts for trial.

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... 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.

Cleber Rene ... Read More...

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...