Did TelexFree Affiliates Fund Millions Of Dollars In Loans To Various TelexFree-Connected Enterprises?

Part of the TelexFree LLC "Balance Sheet" was it appears on the website of the Washinton state XXX.

Part of the TelexFree LLC “Balance Sheet” as it appears on the website of the Washington state Utilities and Transportation Commission.

A document published on the website of the Washington State Utilities and Transportation Commission claims that TelexFree LLC has provided millions of dollars in loans to other TelexFree enterprises, including a Nevada entity known as TelexElectric LLLP.

The loan sum was more than $2.022 million, according to the document. The business purpose of TelexElectric was not immediately clear. Also unclear is why the document was published on Washington state’s government website and whether members of the TelexFree MLM “program” knew they were funding intracompany loans.

TelexElectric was formed in Nevada on Dec. 2, 2013, according to Nevada records. TelexFree LLC also is a Nevada business. Both firms list TelexFree Inc. executives James Merrill and Carlos Wanzeler as partners or managers. TelexFree Inc., headed by Merrill and Wanzeler, is based in Massachusetts. Brazilian TelexFree executive Carlos Costa, who is or was associated with TelexFree LLC, is listed in Nevada as a “historical” TelexElectric general partner.

From Google search results.

From Google search results.

The Washington state document is dubbed “Telexfree LLC Balance Sheet As of December 31, 2013.” The document claims that, in addition to the $2 million-plus loan to TelexElectric, a loan of more than $3.8 million was provided to an entity known as Telexfree Financial Inc.

Telexfree Financial appears to be a Florida entity under the control of Merrill and Wanzeler. The firm, which was formed on Dec. 26, 2013, lists an address in Coconut Creek, Broward County, according to Florida records.

Meanwhile, the Washington state document lists a loan of more than $500,000 to an entity known as TelexMobile. Where TelexMobile is based could not immediately be determined.

In addition to the loans to TelexElectric, Telexfree Financial Inc. and TelexMobile, there is a loan listed of more than $291,800 to an entity described as Ympactus. A TelexFree-related entity known as Ympactus Comercial Ltd. is based in Brazil.

Listed as an additional asset by TelexFree LLC is a “Propay Reserve” account said to contain more than $4.4 million.

According to the Washington state document, TelexFree LLC has or had accounts at ProPay, TD Bank (three accounts), Citizens Bank, Fidelity Bank, Fidelity Bank Sweep and Middlesex Savings. Most of the accounts were said to have modest balances, but the Middlesex Savings account was said to contain more than $5.4 million.

An entity described as “e-Wallet” was said to have a much larger balance: more than $31.6 million.

TelexFree LLC, according to the document, listed “other assets” totaling more than $27.4 million. These included more than $18 million at Fidelity Investment, nearly $7.3 million at Waddell and Reed, an asset-management firm, and $2 million in a savings account at Middlesex Savings.

The document appears to be dated Feb. 20, 2014.

TelexFree also is using the name “TelexFree International.” Where that entity is based is unclear.

TelexFree is the subject of a securities investigation in Massachusetts. Investigators in Brazil have called TelexFree a pyramid scheme.

Some promoters have claimed that the TelexFree “program” triples or quadruples money in a year. There also have been claims that TelexFree was building 500 hotels in Brazil in the run-up to this year’s World Cup and the 2016 Summer Olympics.

The bottom lines of TelexFree Inc. and the other TelexFree-related entities are not addressed in the TelexFree LLC document. TelexFree LLC is said to have more than $76.1 million in “total liabilities and equity.”

 

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6 Responses to “Did TelexFree Affiliates Fund Millions Of Dollars In Loans To Various TelexFree-Connected Enterprises?”

  1. TelexMobile LLC is a Nevada corp, regisered 12/4/2013 entity E0581732013-8

    They used a business proxy service so no officers are visible.

    Telex International Inc is also a Nevada corp. registered 11/20/2013, E0560912013-5

    Registered officers are Xavier Mejia, Felipe Reyes, and Leticia Reyes, all residents of Nevada, seems to be business proxies.

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  2. NOTE: There’s also a Telex Mobile Holdings, Inc. in Nevada, registered 11/26/2013, entity E0571492013-6, using Merrill and Wanzeler as officers. same mailbox as TelexFree LLC

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  3. K. Chang: Telex International Inc is also a Nevada corp. registered 11/20/2013, E0560912013-5

    Registered officers are Xavier Mejia, Felipe Reyes, and Leticia Reyes, all residents of Nevada, seems to be business proxies.

    The only other place where all 3 names show up is a “Reyes Team LLC”, where the two Reyes are officers, and Mejia is registered agent. The office address listed seem to be a real estate office. Mejia seem to be a reg agent as his name’s on a LOT of corporate records.

    Felipe and Leticia Reyes have multiple videos on Youtube touting JC Rangel, who was previously pushing SereniGy (fortified coffee). Can’t confirm if this is actually the same ones, and can’t tell if there’s a link between them and TelexFree. The videos said nothing except how great JC Rangel is. Videos indicate Juan Carlos Rangel is pushing Lucrazon, and may be linked to Nerium, Arbonne, and Javita (based on his Youtube subscriptions)

    Felipe Reyes
    https://www.youtube.com/watch?v=RC4jtXXbuLY

    Leticia Reyes

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  4. K. Chang: Registered officers are Xavier Mejia, Felipe Reyes, and Leticia Reyes, all residents of Nevada, seems to be business proxies.

    Oops, given office address is in Las Vegas, but there’s actually NO indication they reside in Nevada. In fact, all signs point to they live in SoCal.

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  5. A while back Telex was talking about introducing a coffee product but it never came to be. Perhpas there is a connection.

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  6. K. Chang: all signs point to they live in SoCal.

    Carson California, to be exact.

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