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BRIEF: Judge Approves Zeek Receiver’s Motion To Make Interim, Partial Distribution Of Allowed Claims On Sept. 30, 2014

Some money could be in the hands of Zeek victims on Sept. 30. Senior U.S. District Judge Graham C. Mullen has approved a motion by the court-appointed receiver to make an interim, partial distribution of allowed claims. Receiver Kenneth D. Bell proposed the interim-distribution plan in May. (See “UPDATE FROM THE RECEIVER – May 29, […]

Full Statement From Zeek Receiver On Motion To Certify Net Winner Class

Full Statement From Zeek Receiver On Motion To Certify Net Winner Class

EDITOR’S NOTE: Zeek receiver Kenneth D. Bell has issued the following statement (below). The original is here and is dated July 30, 2014. “RVG” stands for Rex Venture Group, the operator of Zeek. Zeek is alleged to be a Ponzi- and pyramid scheme that gathered on the order of $850 million. The receiver’s statement addresses […]

BULLETIN: Zeek Receiver References AdSurfDaily Ponzi Case

BULLETIN: Zeek Receiver References AdSurfDaily Ponzi Case

BULLETIN: (UPDATED 4:29 P.M. EDT U.S.A.) Zeek Rewards receiver Kenneth D. Bell — for the first time — has referenced the AdSurfDaily Ponzi case in a federal court filing. Zeek, believed to have gathered on the order of $850 million, is known to have had participants in common with ASD, a $119 million fraud. Some MLM […]

BULLETIN: Zeek’s Burks, Wright-Olivares, Olivares Settle With Receiver; Agree To $600 Million Consent Judgment ‘To Be Satisfied With Substantially All Of Their Assets’

BULLETIN: Zeek's Burks, Wright-Olivares, Olivares Settle With Receiver; Agree To $600 Million Consent Judgment 'To Be Satisfied With Substantially All Of Their Assets'

BULLETIN: (2nd Update 8:29 p.m. EDT U.S.A.) Three individuals alleged to be key insiders of the Zeek Rewards Ponzi- and pyramid scheme have agreed to a $600 million consent judgment with the court-appointed receiver. Receiver Kenneth D. Bell sued several alleged insiders, including Zeek operator Paul R. Burks, former COO Dawn Wright-Olivares and programmer Daniel […]

SPECIAL REPORT: Prior To Brazil’s TelexFree-Related ‘Operation Orion,’ United States Used Same Name In Sting; U.S. Department Of Homeland Security Has Office In Brasilia And History Of Cooperating With Brazilian Investigators

SPECIAL REPORT: Prior To Brazil's TelexFree-Related 'Operation Orion,' United States Used Same Name In Sting; U.S. Department Of Homeland Security Has Office In Brasilia And History Of Cooperating With Brazilian Investigators

If you’ve been following TelexFree developments, you’ve probably heard about “Operation Orion,” the code name for the investigation that led to raids against TelexFree’s Ympactus arm last week by the Brazilian federal police. The Orion name was chosen, police said, because it fit splendidly within the context of a pyramid-scheme case. How so? The Pyramids […]

REPORT: TelexFree-Related Police Raid In Brazil

REPORT: TelexFree-Related Police Raid In Brazil

UPDATED AT 11:10 P.M. EDT U.S.A. JULY 28, 2014: Globo.com (Brazil) is reporting that police raided the headquarters of Ympactus this morning in a law-enforcement action dubbed “Operation Orion.” The story suggests raids also were carried out elsewhere and that Brazilian tax authorities are involved in the actions. Ympactus is the Brazilian affiliate of TelexFree […]

URGENT >> BULLETIN >> MOVING: TelexFree’s James Merrill, Carlos Wanzeler Indicted

URGENT >> BULLETIN >> MOVING: TelexFree's James Merrill, Carlos Wanzeler Indicted

URGENT >> BULLETIN >> MOVING: 10th Update 9:18 p.m. EDT U.S.A.) TelexFree figures James Merrill and Carlos Wanzeler have been indicted by a federal grand jury. The indictment, dated today, includes eight criminal counts of wire fraud and one criminal count of wire-fraud conspiracy. Among other things, the indictment alleged that Merrill and Wanzeler conspired […]

UPDATE: No Ruling Today On Motion By TelexFree’s James Merrill To Release Seized Money

UPDATE: No Ruling Today On Motion By TelexFree's James Merrill To Release Seized Money

UPDATED 6:07 P.M. EDT U.S.A. A U.S. Magistrate Judge issued no immediate ruling today on a motion by TelexFree figure James Merrill to release $4 million to pay for his criminal defense. Instead, Judge David H. Hennessy will take the matter under advisement and issue an order later, according to the docket of the case. […]

DEVELOPING STORY: The TelexFree Rabbit Hole, Exposed

DEVELOPING STORY: The TelexFree Rabbit Hole, Exposed

UPDATED 11:16 P.M. EDT U.S.A. We now may have an answer to some or all of these questions: What happens when you’re Massachusetts-based TelexFree — and apparently so out of touch that Sann Rodrigues, a former SEC defendant in a pyramid-scheme and affinity-fraud case, becomes one of the most recognizable public faces of your company […]

URGENT >> BULLETIN >> MOVING: TelexFree Trustee Says He ‘Has No Intention Of Reorganizing Or Reactivating Their Businesses’

URGENT >> BULLETIN >> MOVING: TelexFree Trustee Says He 'Has No Intention Of Reorganizing Or Reactivating Their Businesses'

URGENT >> BULLETIN >> MOVING: (1st Update 8:50 P.M. EDT U.S.A.) The TelexFree trustee said in court filings today in the SEC’s civil case against the firm that he has “no intention of reorganizing or reactivating their businesses” and — based on information and belief  — “they were in fact engaged in a Ponzi or […]

BULLETIN: Prosecutors Ask Judge Not To Release Money To TelexFree Figure James Merrill

BULLETIN: Prosecutors Ask Judge Not To Release Money To TelexFree Figure James Merrill

BULLETIN: Federal prosecutors handling the criminal case against TelexFree figure and alleged co-owner James Merrill have asked a judge not to release $4 million Merrill says he needs to pay for his criminal defense. On July 1, Merrill asked for an evidentiary hearing aimed ultimately at securing “an order returning the identified funds” to him. […]