Category: Uncategorized
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In Face Of International Probes And Legal/PR Disaster In Africa, TelexFree Launches PR Campaign That Only Raises More Questions
UPDATED 9:24 A.M. EDT (MARCH 22 U.S.A.) TelexFree, alleged to be a pyramid scheme using a VOIP product as a front to mask an investment program, has been under investigation in Brazil since at least June 2013. There’s also an ongoing securities probe in Massachusetts. The government of Rwanda, meanwhile, has announced it booted a…
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Washington State Rejects TelexFree Bid To Register As Telecommunications Firm
The Washington State Utilities and Transportation Commission has rejected a bid by TelexFree LLC to register as a telecommunications company. TelexFree LLC is not registered as a corporation in Washington state and therefore is ineligible to be registered as a telecommunications firm in the state, the commission said in a finding dated March 13. How…
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Government Of Rwanda, Citing Pyramid And Money-Laundering Concerns, Bans TelexFree Enterprise After Joint Probe With Nation’s Central Bank
The Ministry of Trade and Industry of the Republic of Rwanda has announced that a TelexFree enterprise has been banned in the country after a joint investigation with the National Bank of Rwanda, the nation’s central bank. Central banks control monetary policy in their respective countries. Other examples of central banks include the Bank of…
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REPORT: TelexFree Subjected To $30 Million (U.S.) Tax Penalty In Brazil
UPDATED 9:46 P.M. EDT (U.S.A.) The video below of TelexFree executive Carlos Costa is in Portuguese. In this particular circumstance, the Google facility to translate captions from Portuguese to English didn’t do much to aid our comprehension. Perhaps one of our readers skilled in both Portuguese and English could provide a summary below of Costa’s…
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In Alberta, 1 in 3 Report Being Approached With A Possible Fraudulent Investment, Securities Commission Says
Carefully checking and protecting before investing is part of the theme behind Fraud Prevention Month in Alberta, the Alberta Securities Commission said today. As part of its initiative, ASC rolled out a noontime “free lunch” in Calgary. The agency said it used the Mighty Skillet food truck at City Hall “to offer Calgarians a free…
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INVESTOR ALERT: Statement From Alabama Securities Commission On High-Yield ‘Opportunities,’ Bitcoin, Iraqi Dinars — And More
EDITOR’S NOTE: This statement from the Alabama Securities Commission is dated March 12, 2014. The PP Blog has applied in-house formatting elements to the statement. Other than that, the statement is verbatim. INVESTOR ALERT – Understanding high-risk investments What you don’t know CAN hurt you! MONTGOMERY, ALABAMA (March 12, 2014) As our state’s and the…
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Greater Dallas Firm Allegedly Sold Unregistered Securities, Pooh-Poohed Qualification Criteria — And Accepted Bitcoin Without Disclosing Risks
“Far from verifying that purchasers of the company’s investments are accredited, [Balanced Energy President Kirk] Johnson, according to the order, said ‘we don’t do any verification’ and ‘we’re not the paperwork police,’” — Texas State Securities Board, March 11, 2014 Balanced Energy LLC, an oil-and-gas firm based in the Dallas-Fort Worth suburb of Southlake, is…
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Quebec Issues Investor Alert On WCM777
UPDATED 6:42 P.M. EDT (U.S.A.) The Autorité des marchés financiers (AMF) has issued an Investor Alert on the WCM777 MLM “program.” Quebec’s securities regulator now joins at least nine other jurisdictions issuing Investor Alerts or filing actions against WCM777, also known as World Capital Market, Kingdom777 and Global-Unity. Global-Unity recently used a photo of a…
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Alaska Issues Alert On WCM777; State Asks Local Investors To Contact Division Of Banking And Securities
The WCM777 “program,” also known as Kingdom777 and Global-Unity, is now the subject of an Investor Alert in Alaska. Alaska’s move brings the unofficial total of jurisdictions or regulatory agencies filing actions or issuing Investor Alerts against WCM777 to eight: The country of Peru, the state of Massachusetts, the state of California, the state of…
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Did TelexFree Affiliates Fund Millions Of Dollars In Loans To Various TelexFree-Connected Enterprises?
A document published on the website of the Washington State Utilities and Transportation Commission claims that TelexFree LLC has provided millions of dollars in loans to other TelexFree enterprises, including a Nevada entity known as TelexElectric LLLP. The loan sum was more than $2.022 million, according to the document. The business purpose of TelexElectric was…