BULLETIN: PonziTracker.com: Judge Moves TelexFree Bankruptcy Case To Massachusetts And Suspends Proceedings Until Transfer Occurs
BULLETIN: (4th Update 3:28 p.m. EDT U.S.A.) U.S. Bankruptcy Judge August B. Landis of Nevada has transferred the TelexFree Chapter 11 case to Massachusetts, PonziTracker.com reported at 2:27 p.m.
At 2:34 p.m., PonziTracker reported that Landis has suspended all proceedings in the case until the transfer to Massachusetts can be completed.
Click here.
The SEC sought the transfer to Massachusetts last month, arguing that the state was TelexFree’s “nerve center” and that the bankruptcy filing in Nevada on Oct. 13 was a “transparent attempt to avoid Massachusetts, where their ‘business’ and numerous witnesses are located and where various government agencies have been investigating their fraudulent conduct.”
Also see follow-up story by PonziTracker.
Quick note: PonziTracker provided live coverage of today’s key rulings. Here’s hoping the folks will notice the PayPal button below the live coverage here:
http://www.ponzitracker.com/main/2014/5/6/live-coverage-of-the-telexfree-ruling.html
Patrick
Or, “Telexfree bankruptcy over – A Great Victory”
Just need the right spin.
Has Elvis left the building?
TelexFree owner appears to have left US
http://www.bostonglobe.com/business/2014/05/07/one-telexfree-owner-appears-have-left-while-grand-jury-investigation-continues/kZo2XxKLO1UrNAjIZlrr7N/story.html
Tony,
My apologies for not putting you on the memo distribution list. In any case, Elvis has been working at a Kmart in Kalamazoo, Mich., since Aug. 17, 1977. Please update your notes.
On a side note, we’re switching back to the lime Kool-Aid next week.
Memory Lane:
https://patrickpretty.com/2009/06/01/adviewglobal-promoters-trade-on-name-of-forbes-magazine-to-trumpet-surf-firm/comment-page-1/#comment-3442
What a long, strange trip it has been, Tony.
Thanks for this.
Patrick
That must be where his daughter got her talent from.
http://www.mirror.co.uk/news/uk-news/elvis-daughter-lisa-marie-working-1349902
Working in a rusty chippy van.
Quick note: Have now seen a “petition” from apparent TelexFree supporters to Judge Gorton, who is presiding over the SEC’s TelexFree case in the District of Massachusetts.
Of course, there also was a “petition” to Judge Landis, who initially presided over the TelexFree bankruptcy case in Nevada before ordering the case transferred to federal bankruptcy court in Massachusetts.
The new bankruptcy judge is Judge Hoffman of the Massachusetts Central Division in Worcester. That’s how things stand now.
For background, consider that members of the $119 million AdSurfDaily MLM scheme and the $850 million Zeek Rewards MLM scheme also launched petition drives.
In our view, these provide an incredible spectacle that:
* Makes MLM look ridiculous.
* Makes American business look ridiculous.
* Occurs because promoters, including some of whom proceed from one fraud scheme to another, seem to believe they can minimize the prospect of getting sued as defendants in regulatory actions or sued by their downlines — a/k/a, the victims they created.
The U.S. Trustee has talked about a “rabbit hole” at TelexFree. This, of course, is just another way to speak of the bizarre nature of TelexFree.
But this bizarre nature also was shared by Zeek and ASD. At the end of the day, the various petitions all can be viewed as pleas to make MLM crime lawful. It doesn’t get any more bizarre than that.
Victims of MLM crimes are piling up at numbers the largest sports stadiums in the United States cannot accommodate. And yet the “programs'” supporters completely ignore this and, in fact, seek de facto sanitization from the courts for their schemes.
This situation is truly incredible — and it is dangerous beyond measure.
Patrick