William Galvin

PP Blog Tag archives on references to "William Galvin."

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 […]

UPDATE: TelexFree Figure James Merrill Will Remain Jailed; [MAY 21 DEVELOPMENT: Merrill’s Brother Subpoenaed In State Probe, Boston Globe Reports]

UPDATE: TelexFree Figure James Merrill Will Remain Jailed; [MAY 21 DEVELOPMENT: Merrill's Brother Subpoenaed In State Probe, Boston Globe Reports]

(UPDATED 11:30 A.M. EDT MAY 21 U.S.A. See Update at bottom of this brief, originally published May 20.) TelexFree figure James Merrill was unable to persuade a federal magistrate judge to free him, the PP Blog has learned. Judge David Hennessy declined Merrill’s bail application today, the office of U.S. Attorney Carmen Ortiz said moments […]

URGENT >> BULLETIN >> MOVING: ‘Wings Network’ And Alleged Promoters Charged

URGENT >> BULLETIN >> MOVING: 'Wings Network' And Alleged Promoters Charged

URGENT >> BULLETIN >> MOVING: (16th Update 12:27 p.m. EDT U.S.A.) “Wings Network,” an MLM “program” in part targeted at TelexFree participants, has been charged in Massachusetts with operating a pyramid scheme and selling unregistered securities as investment contracts as part of a securities-fraud scheme. Several individual promoters or alleged recipients of fraud-scheme proceeds were […]

BOSTON GLOBE: Massachusetts Issues Subpoena To Wings Network ‘Program’

BOSTON GLOBE: Massachusetts Issues Subpoena To Wings Network 'Program'

3rd Update 12:58 P.M. EDT U.S.A. The office of Massachusetts Commonwealth Secretary William Galvin has issued a subpoena to Wings Network, the Boston Globe is reporting. From the Globe (italics added): “We attended one of their events,’’ Galvin said. “We had heard from some investors who, in light of TelexFree, had become concerned — and […]

Federal Judge To Accused TelexFree Promoter: Sell Your Bimmers And Land Rover

Federal Judge To Accused TelexFree Promoter: Sell Your Bimmers And Land Rover

(UPDATED 8:05 A.M. EDT U.S.A.) Alleged TelexFree promoter and securities fraudster Santiago De La Rosa has been ordered by the federal judge presiding over the U.S. Securities and Exchange Commission’s Ponzi- and pyramid case to sell two BMWs and a Land Rover Range Rover “back to the dealership” and to “repatriate all funds located outside […]

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 […]

TelexFree, Allegedly One Of The Largest Ponzi Schemes In History, Says State And Federal Actions Against It ‘Precipitous And Unnecessary’

TelexFree, Allegedly One Of The Largest Ponzi Schemes In History, Says State And Federal Actions Against It 'Precipitous And Unnecessary'

Effectively having been accused of rivaling Scott Rothstein’s epic Ponzi scheme, TelexFree issued a statement this afternoon that calls the government actions against it “precipitous and unnecessary.” Rothstein’s Florida-based Ponzi scheme collapsed in 2009. It gathered about $1.2 billion before toppling, and is one of the largest Ponzi schemes in U.S. history. On Tuesday, Massachusetts […]

TelexFree ‘Top Story’ In Department Of Homeland Security’s Daily Infrastructure Report

TelexFree 'Top Story' In Department Of Homeland Security's Daily Infrastructure Report

TelexFree — specifically the Ponzi- and pyramid complaint filed against it Tuesday by Massachusetts Commonwealth Secretary William Galvin — was the top story yesterday in the U.S. Department of Homeland Security’s daily infrastructure report. DHS was formed after the terrorist attacks of Sept. 11, 2001. Galvin alleged that TelexFree had gathered more than $1.2 billion […]

URGENT >> BULLETIN >> MOVING: SEC Charges TelexFree, Executives And Key Promoters — Including Sann Rodrigues And Faith Sloan

URGENT >> BULLETIN >> MOVING: SEC Charges TelexFree, Executives And Key Promoters -- Including Sann Rodrigues And Faith Sloan

URGENT >> BULLETIN >> MOVING: (19th Update 5:45 p.m. ET U.S.A.) The U.S. Securities and Exchange Commission (SEC) has filed charges against the alleged TelexFree pyramid scheme and a federal judge has granted an asset freeze. TelexFree was a sham to mask an investment scheme known as “AdCentral” in which affiliates were told they could […]

URGENT >> BULLETIN >> MOVING: Massachusetts Securities Division Says TelexFree Is Billion-Dollar Ponzi And Pyramid Scheme That Targeted Brazilian Community

URGENT >> BULLETIN >> MOVING: Massachusetts Securities Division Says TelexFree Is Billion-Dollar Ponzi And Pyramid Scheme That Targeted Brazilian Community

URGENT >> BULLETIN >> MOVING: (11th update 3:03 p.m. EDT U.S.A.) The state of Massachusetts has alleged that TelexFree is a “massive” Ponzi- and pyramid scheme that gathered more than $1.2 billion and targeted the Brazilian community. In alleged dollar volume, TelexFree appears to be at approximately the same level of the epic Scott Rothstein […]

TelexFree, WCM777 (Etc.) — In Pictures

TelexFree, WCM777 (Etc.) -- In Pictures

California-based WCM777, an MLM “program,” got booted out of Massachusetts in November 2013, amid allegations of securities fraud and affinity fraud targeted at the Brazilian community through hotel pitchfests. WCM777, purportedly operated by Ming Xu and recruiting affiliates to conduct business over the Internet, later got booted out of California. In addition to the Brazilian […]