REPORT: Flap Over TelexFree Soccer Club Deal Deepens; Botafogo’s Main Sponsor Reportedly Does Not Want Its Name Associated With Alleged Pyramid Scheme

TelexFree executive Carlos Costa is keen on Botafogo. Source: YouTube video.

TelexFree executive Carlos Costa is keen on Botafogo. Source: YouTube video.

MLM’s HYIP wing appears to have triggered another PR disaster for the trade: Guaraviton, a longtime sponsor of the Botafogo soccer club in Rio de Janeiro, may be none too pleased with the club’s deal that brought on TelexFree as a No. 2 sponsor.

TelexFree is under investigation in Brazil, amid allegations it is a pyramid scheme. There have been reports about death threats against a prosecutor and a judge.

Guaraviton, a beverage-maker, is Botafogo’s main sponsor. The club’s deal with TelexFree was a “negative surprise” to Guaraviton, according to a story on Abril.com. Grupo Abril is a major media outlet in Brazil.

Read the story in Portuguese at veja.abril.com.br.

View the Google translation in English.

Ponzi schemer Allen Stanford’s sponsorships caused embarrassment in the worlds of cricket and golf.

Prior to the collapse of the AdSurfDaily Ponzi scheme in 2008, members claimed ASD would have a car in auto racing’s Indy 500. (See PP Blog report from Feb. 22, 2009: Stanford/Bowdoin: ‘A Tapestry Of Believable Lies’

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6 Responses to “REPORT: Flap Over TelexFree Soccer Club Deal Deepens; Botafogo’s Main Sponsor Reportedly Does Not Want Its Name Associated With Alleged Pyramid Scheme”

  1. Here’s a TelexFree-related story (in Portuguese) about a man who locked himself in chains in front of a government building in Brazil:

    http://www.dm.com.br/texto/161313

    Google translation in English:

    http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.dm.com.br%2Ftexto%2F161313

    I can’t tell if the man is sympathetic to TelexFree or angry at the firm.

    Patrick

      (Quote)

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