Category: Alleged Ponzi Schemes
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BULLETIN: Nevada Public Utilities Commission Staff Recommends Denial Of TelexFree’s Telecom Application; ‘Financial Statements . . . Cannot Be Relied Upon At This Time’
BULLETIN: The staff of the Nevada Public Utilities Commission has recommended that TelexFree’s telecom application be denied, saying the firm filed the application and then almost immediately filed for bankruptcy protection. Based on the bankruptcy filing, the financial information provided by TelexFree during the application process “cannot be relied upon at this time,” the PUC…
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FBI, Homeland Security Establish Site, Questionnaire For TelexFree Victims
The FBI and the U.S. Department of Homeland Security have established a website for individuals who believe they were defrauded by TelexFree, an alleged pyramid- and Ponzi scheme the Massachusetts Securities Division says gathered more than $1.2 billion. Here is a link to a statement by the FBI and DHS. The page includes a link…
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TOPIC TELEXFREE: View Wall Street Journal Spreecast Featuring PonziTracker’s Jordan Maglich
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UPDATE: TelexFree’s James Merrill Remains In Custody
UPDATED 8:14 p.m. EDT U.S.A. James Merrill, the onetime president of TelexFree arrested and detained May 9 on wire-fraud conspiracy charges, was not freed at a bail hearing today and will remain in custody. “The judge took the matter under advisement,” the office of U.S. Attorney Carmen Ortiz of the District of Massachusetts said early…
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BULLETIN: Feds Say Carlos Wanzeler Left U.S. For Canada On Same Day Homeland Security Raided TelexFree Offices; Alleged Fugitive Then Flew To Brazil On Date His Home Was Raided; Wanzeler’s Wife Arrested As Material Witness After Telling Agents Husband Was Staying In Hotel
(10th Update 10:53 p.m. EDT U.S.A.) Federal agents arrested Massachusetts resident Katia Wanzeler at John F. Kennedy International Airport in New York yesterday after “someone in Brazil” purchased her a “one-way ticket” two days ago and paid cash, the U.S. Department of Homeland Security alleges in an affidavit. Katia, the wife of alleged TelexFree fugitive…
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UPDATE: FOR SPEAKERS OF SPANISH OR PORTUGUESE: SEC’s TelexFree Complaint Now Available In Your Language
Update: SEC press release, complaint re TelexFree pyramid scheme now available in Spanish and Portuguese: http://t.co/SJ4X4lSKaz — SEC_News (@SEC_News) May 15, 2014 Link for Spanish: http://www.sec.gov/enforce/Article/telexfree-press-release-and-complaint-spanish-version.html Link for Portuguese: http://www.sec.gov/enforce/Article/telexfree-press-release-and-complaint-portuguese-version.html
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BULLETIN: REPORT: Wanzeler’s Wife Arrested; [UPDATE: U.S. Attorney’s Office Confirms Arrest]
BULLETIN: (6th update 6:10 p.m. EDT U.S.A.) There are reports on Twitter, citing a Boston Globe story, that the wife of accused TelexFree figure Carlos Wanzeler has been arrested at an airport. The office of U.S. Attorney Carmen Ortiz of the District of Massachusetts confirmed the arrest to the PP Blog at 11:46 a.m., saying…
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BULLETIN: Special Master Compares Zeek Case To Madoff, Stanford And Enron
BULLETIN: With the MLM world only now coming to grips with the alleged $1.2 billion TelexFree Ponzi- and pyramid fraud, the special master in the Zeek Rewards criminal action has compared the Zeek case to the Bernard Madoff and Allen Stanford Ponzi schemes and the notorious Enron securities swindle involving former CEO Jeffrey Skilling. Special…