TelexFree A No-Show At Alabama Hearing; Litigation Involving Firm Piles Up
UPDATED 12:25 P.M. EDT U.S.A. Immersed in litigation on at least 10 fronts in the United States while also confronting licensing challenges and asset freezes, TelexFree did not appear last month at a hearing it requested to consider its telecom application before the Alabama Public Service Commission. As things stand, the company is not authorized […]
UPDATE: Federal Judge Orders Properties Linked To Alleged WCM777 MLM Scam Listed For Sale
UPDATE: A federal judge has ordered the receiver in the WCM777 case to list for sale three properties linked to the alleged MLM pyramid scheme. U.S. District Judge Christina A. Snyder is presiding over the SEC’s civil case filed in March. Receiver Krista L. Freitag asked for the authority to sell the properties last month. […]
TelexFree’s Merrill Trashes Law Enforcement, Pins Hope For Pretrial Release On Stuart MacMillan, William Runge, Gerald Nehra — And Alexa Rankings
2ND UPDATE 9:44 P.M. EDT U.S.A. Just last week, accused promoter Faith Sloan was blasting TelexFree figures James Merrill and Carlos Wanzeler, as well as MLM attorney Gerald Nehra. In defense filings in the SEC’s civil case against her, Sloan threw all three men under the bus. Nehra also got a mention today by Merrill, […]
EDITORIAL: Who’d Have Thunk It?
“But like Heaven above me/The spy who loved me/Is keeping all my secrets safe tonight” — Lyrics from “Nobody Does It Better,” composed by Marvin Hamlisch, written by Carole Bayer Sager, performed by Carly Simon as the theme song of the James Bond film, “The Spy Who Loved Me.” Elektra Records, 1977. British spy James […]
FAITH SLOAN: Blame TelexFree, Merrill, Wanzeler, Labriola And Nehra, Not Me
UPDATED 8:55 P.M. EDT U.S.A. Veteran HYIP huckster Faith Sloan told a federal judge presiding over the SEC’s TelexFree case that she is a victim of the company and was duped by TelexFree executives James Merrill, Carlos Wanzeler and Steve Labriola. And, the former Noobing, Zeek Rewards and Profitable Sunrise pitchwoman asserted, she also was […]
TelexFree Telecom Application Rejected By Nevada Public Utilities Commission
Nevada, the state in which TelexFree operated an alleged $1.2 billion pyramid- and Ponzi scheme through a mailbox and filed its initial Chapter 11 bankruptcy petition, has rejected the company’s application to become a telecom provider. The Nevada Public Utilities Commission denied the application in an order dated June 2. The staff of the PUC […]
BULLETIN: Stephen B. Darr Appointed TelexFree Trustee
Stephen B. Darr, senior managing director of Mesirow Financial Consulting LLC of Boston, has been appointed trustee in the TelexFree bankruptcy case. The appointment was made by William K. Harrington, the United States’ Trustee, based on the order of U.S. Bankruptcy Judge Melvin S. Hoffman. The office of the U.S. Trustee is the bankruptcy watchdog […]
BULLETIN: Feds Say TelexFree Has ‘Disturbingly Cult-Like Quality’; SEC Accuses Faith Sloan Of Lying To Court
BULLETIN: (12th Update 9:50 p.m. EDT U.S.A.) In resisting former TelexFree President James Merrill’s latest bid to make bail in the criminal case against him, federal prosecutors said today that TelexFree “has a disturbingly cult-like quality.” Meanwhile, in separate action in the SEC’s civil case against TelexFree, the agency has accused alleged TelexFree pitchwoman Faith […]
BULLETIN: Merrill May Be Turning Against Wanzeler
BULLETIN: (5th Update 10:06 p.m. EDT U.S.A.) A defense filing by alleged TelexFree co-owner James Merrill may signal a serious divide between Merrill and Carlos Wanzeler, now described by the United States as an international fugitive. At the same time, new defense filings by Merrill say arguments made in bankruptcy court that suggest TelexFree could […]
Appeals Court Agrees with FTC: BurnLounge Was A Pyramid Scheme
UPDATED 10:12 A.M. EDT (JUNE 3) U.S.A. The U.S. Court of Appeals for the 9th Circuit today agreed with both a lower court and the Federal Trade Commission: BurnLounge was a pyramid scheme. Much to the dismay of some MLMers, the case demonstrates that a company that makes some retail sales still can be a […]