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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…
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REPORTS: Dominican Man Despondent Over TelexFree Losses Found Unharmed
There are reports in Dominican media and across Twitter that a Dominican man who contemplated taking his own life two weeks ago over TelexFree losses has been found unharmed. The man reportedly was found near Santiago at the home of a relative and told police that thoughts of his children helped keep him from doing…
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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…
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EDITORIAL: TelexFree, Rabbit Holes And Vomit
TelexFree, an alleged $1.2 billion Ponzi- and pyramid scheme targeted at immigrants, is an exceptionally dangerous MLM malignancy and criminal enterprise. The SEC, the Massachusetts Securities Division and the U.S. Department of Justice have an obligation to society at large to treat TelexFree with maximum legal prejudice and to annihilate it. This, we believe, is…
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URGENT >> BULLETIN >> MOVING: TelexFree, Gerald Nehra MLM Law Firm, Banks, Processors Sued In Prospective Class Action That Alleges RICO Violations
URGENT >> BULLETIN >> MOVING: (18th update 3:49 P.M. EDT U.S.A.) TelexFree, MLM attorney Gerald Nehra, “Doe” insiders and several banks have been sued in a prospective class-action that alleges fraud and violations of the federal RICO (racketeering) statute. “Certain Defendants share joint and severable liability, including the Doe Inside Promoters, the licensed professionals such…
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BULLETIN: Cash, Weapons, Electronics Reportedly Seized In TelexFree-Related Raid In Dominican Republic; Alleged Promoter Labeled Fugitive
BULLETIN: (Updated 12:27 p.m. EDT U.S.A.) A TelexFree-related police raid coordinated by prosecutors in the Dominican Republic has resulted in the seizure of cash, at least two weapons and computer (tablets) and phone equipment (smart phones), the Public Ministry says in a statement in Spanish. The weapons were identified as a pistol and a shotgun.…
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TelexFree Live Bankruptcy-Court Coverage By Jordan Maglich Of Ponzi Tracker
Jordan Maglich of PonziTracker is providing live coverage of today’s key TelexFree session in U.S. Bankruptcy Court in Nevada: 12:44 p.m. Hearing beginning: Click here. 1:07 p.m. PPBlog note: Based on Jordan’s reporting, it looks as though the U.S. Attorney’s office has filed civil and criminal forfeiture actions. This is similar to what happened in…
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DEVELOPING STORY: Reports Of TelexFree-Related Arrests In Dominican Republic
(2ND UPDATE 11:39 A.M. EDT U.S.A.) In the hours leading up to a key appearance by TelexFree in Bankruptcy Court in Nevada today, there are reports in Dominican media that a TelexFree-related police raid occurred in San Pedro de Macoris and that arrests were made. TelexFree is accused in the United States of operating a…
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BULLETIN: Trustee: ‘It Appears That [TelexFree’s] Merrill, Wanzeler, And Craft Have All Fallen Down The Rabbit Hole And Are Now Expecting The [Bankruptcy] Court To Follow’
BULLETIN: In a blistering response to TelexFree’s bid to continue its business and move forward with its Chapter 11 bankruptcy case, the United States’ trustee said the embattled firm has not engaged “in full and fair disclosure.” “The former CFO and board members have disappeared with no explanation,” U.S. Trustee Tracy Hope Davis alleged. “The only…
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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…
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