Archive for April 2014

SEC: TelexFree’s Sann Rodrigues On YouTube: God Started MLM And Made ‘Binary’; ‘I Am Never Going To Stop This’

SEC: TelexFree's Sann Rodrigues On YouTube: God Started MLM And Made 'Binary'; 'I Am Never Going To Stop This'

(UPDATED 8:21 P.M. EDT U.S.A.) The U.S. Securities and Exchange Commission says in new court filings that accused TelexFree promoter and securities fraudster Sann Rodrigues appeared in an April 16 YouTube video and asserted that “God” made MLM and “binary” and that Rodrigues claims he’s “never going to stop this.” Rodrigues is now a two-time […]

URGENT >> BULLETIN >> MOVING: Interim TelexFree Chief Tells Bankruptcy Judge That He Has Fired Carlos Wanzeler And Caused James Merrill And Joe Craft To Resign

URGENT >> BULLETIN >> MOVING: Interim TelexFree Chief Tells Bankruptcy Judge That He Has Fired Carlos Wanzeler And Caused James Merrill And Joe Craft To Resign

URGENT >> BULLETIN >> MOVING: Carlos Wanzeler refused to resign from TelexFree-related entities and has been fired by interim CEO Stuart A. MacMillan, according to new filings in the TelexFree bankruptcy case. MacMillan also caused the resignations of former TelexFree President James Merrill and interim CFO Joe H. Craft, according to the filings. MacMillan now […]

BULLETIN: Montana Halts TelexFree; State Says Firm Supplied Incomplete, Inaccurate Information And Continued To Operate After Claiming It Had Pulled Out

BULLETIN: Montana Halts TelexFree; State Says Firm Supplied Incomplete, Inaccurate Information And Continued To Operate After Claiming It Had Pulled Out

BULLETIN: The state of Montana has issued a Cease and Desist order to TelexFree, revealing it had been unsuccessfully seeking complete information from the MLM “program” for months and alleging that TelexFree continued to do business in the state after claiming it had pulled out. The April 23 order was issued by the office of […]

WANTING MORE: From Zeek To TelexFree

WANTING MORE: From Zeek To TelexFree

(UPDATED 10:13 A.M. EDT APRIL 30 U.S.A.) Back in October 2012, two California members of the collapsed Zeek Rewards MLM “program” filed a self-written pleading with the federal judge presiding over the Zeek Ponzi- and pyramid case in North Carolina. Just two months earlier — in August 2012 — the U.S. Securities and Exchange Commission […]

MLM WATCHDOG: Phil Piccolo Is Scamming Again

MLM WATCHDOG: Phil Piccolo Is Scamming Again

(2ND UPDATE 3:26 P.M. EDT U.S.A.) Rod Cook, who publishes the “MLM Watchdog” and was threatened with a $40 million lawsuit by the AdSurfDaily Ponzi racketeers in 2008, is reporting that veteran swindler Phil Piccolo is back on the prowl. This time, Cook reports, it’s with a cobra-venom product sold at MyNyloxin.com. The product is […]

Zeek Ponzi-Scheme Figure T. LeMont Silver Now Spokesman For Florida ‘Expat’ Lifestyle In Dominican Republic

Zeek Ponzi-Scheme Figure T. LeMont Silver Now Spokesman For Florida 'Expat' Lifestyle In Dominican Republic

(UPDATED 9:33 A.M. EDT, APRIL 27 U.S.A.) T. LeMont Silver, a pitchman for the $850 million Zeek Rewards Ponzi scheme and the OneX pyramid scheme, is now a spokesman for the “Florida Expat” lifestyle in the Dominican Republic, which recently has been rocked by what the U.S. Securities and Exchange Commission describes as the collapse […]

BULLETIN: Massachusetts Securities Division Issues TelexFree Complaint Form; Commonwealth Secretary William Galvin Publishes Brochure On How To Steer Clear Of Pyramid Schemes

BULLETIN: Massachusetts Securities Division Issues TelexFree Complaint Form; Commonwealth Secretary William Galvin Publishes Brochure On How To Steer Clear Of Pyramid Schemes

BULLETIN: (UPDATED 5:56 P.M. EDT U.S.A.) The Massachusetts Securities Division (MSD) has published a complaint form for TelexFree investors. Massachusetts Commonwealth Secretary William Galvin, who oversees MSD, also has published a brochure titled, “Illegal Pyramid Schemes Disguised as Multi-level Marketing Businesses (MLMs).” Galvin’s investigators alleged on April 15 that TelexFree was a combined Ponzi- and […]

FROM COURT FILINGS: TelexFree Promoter Faith Sloan To SEC: ‘Why Are You Picking On Me?’

FROM COURT FILINGS: TelexFree Promoter Faith Sloan To SEC: 'Why Are You Picking On Me?'

(3nd Update 9:16 A.M. EDT, May 11, 2014 U.S.A.) When contacted by the U.S. Securities and Exchange Commission April 17 by phone, alleged TelexFree promoter and securities swindler Faith Sloan shot back, “Why are you picking on me? There are bigger promoters than me.” The assertion is contained in new SEC filings dated yesterday in […]

BULLETIN: TelexFree’s Telecom License At Risk In Minnesota; Department Of Commerce Asks PUC To Deny Embattled MLM Firm Authority To Operate

BULLETIN: TelexFree's Telecom License At Risk In Minnesota; Department Of Commerce Asks PUC To Deny Embattled MLM Firm Authority To Operate

BULLETIN:  The Minnesota Department of Commerce has asked the state Public Utilities Commission to deny TelexFree’s authorization to provide long-distance service in the state. Minnesota regulators now are questioning whether TelexFree financial and background information submitted to the state to gain telecom authority was accurate. The PUC granted the authority on April 18, after the […]

URGENT >> BULLETIN >> MOVING: SEC Enters TelexFree Nevada Bankruptcy Fray — Plus Confirmation That U.S. Attorney’s Office Part Of Probe

URGENT >> BULLETIN >> MOVING: SEC Enters TelexFree Nevada Bankruptcy Fray -- Plus Confirmation That U.S. Attorney's Office Part Of Probe

URGENT >> BULLETIN >> MOVING: (Updated 6:24 P.M. EDT U.S.A.) The U.S. Securities and Exchange Commission has entered the TelexFree fray in Nevada Bankruptcy Court and has petitioned the judge to transfer the case to Bankruptcy Court in the Central District of Massachusetts, an area that is a potential TelexFree stronghold. The Central District covers […]

BULLETIN: U.S. Trustee Says ‘Compelling Evidence Of Fraud’ And ‘Reasonable Grounds’ To Believe ‘Criminal Conduct’ Occurred On Road To TelexFree Bankruptcy Filing

BULLETIN: U.S. Trustee Says 'Compelling Evidence Of Fraud' And 'Reasonable Grounds' To Believe 'Criminal Conduct' Occurred On Road To TelexFree Bankruptcy Filing

BULLETIN:  (11th Update 2:35 p.m. EDT U.S.A.) The United States’ trustee who serves the region (Nevada) in which TelexFree’s bankruptcy case was filed on April 13 has alleged there are “reasonable grounds” to believe that “criminal conduct” occurred at TelexFree. Trustee Tracy Hope Davis, who works for a division of the U.S. Department of Justice, […]