Carlos Costa

URGENT >> BULLETIN >> MOVING: (6th update 2:36 p.m. EDT U.S.A.) TelexFree LLC and “certain of its subsidiaries and affiliates” have filed for bankruptcy in Nevada, the firm said in a statement this morning. In its statement, the company did not directly identify the other TelexFree firms involved in the filing. A link in the […]

UPDATED 4:50 P.M. EDT (U.S.A.) The TelexFree LLC branch of the TelexFree enterprise posted more than $691 million in “total income” last year, according to a filing with the Alabama Public Service Commission. (The PP Blog retrieved the filing today and saved it as TelexFreeAlabamaApplication.pdf. See link below.) TelexFree asked that the document be “FILED […]

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 […]

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 […]

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 […]

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 […]

UPDATED 12:23 P.M. ET (MARCH 4, U.S.A.) A 10-hour video of the TelexFree confab in Spain Saturday and Sunday has emerged, apparently a recording of a once-live feed. After being billed as headliners, neither Brazil-based TelexFree executive Carlos Costa nor American MLM lawyer Gerald Nehra appeared on the stage to accept awards. U.S.-based TelexFree marketing […]

Updated 9:45 a.m. (Feb. 27, 2014, U.S.A.) Police who serve Portuguese-speaking residents in two British Crown dependencies — the States of Jersey and Guernsey — have issued warnings on the TelexFree scheme. News of the warnings was published on BehindMLM.com. Brazil-based TelexFree executive Carlos Costa waved the flags of Portugal and Madeira in a curious […]

Updated 8:36 a.m. ET (Feb. 26, U.S.A.) Some TelexFree promoters may be lobbying the company and Brazil-based executive Carlos Costa to keep its original Ponzi scheme intact, according to a Blog post (in Portuguese) observed by the PP Blog this morning. BehindMLM.com reported on Feb. 19 that TelexFree may be in the process of changing […]

Citing reports in Brazilian media, BehindMLM.com is reporting that authorities in Portugal are monitoring TelexFree developments and beginning to collect documents. The development may signal that yet-another probe into TelexFree’s business practices is in the offing, potentially the first in Europe. From BehindMLM.com (italics added): According to the local media there are currently 41,000 TelexFree […]

MLM’s HYIP wing appears to have triggered another PR disaster for the trade: Guaraviton, a longtime sponsor of the Botafogo soccer club in Rio de Janeiro, may be none too pleased with the club’s deal that brought on TelexFree as a No. 2 sponsor. TelexFree is under investigation in Brazil, amid allegations it is a […]