Tag: Joseph H. Craft
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SHADES OF ZEEK: Prospective Class-Action Defendant Tells Judge TelexFree Was Operating A Tax Scam
In October 2014, federal prosecutors alleged that the Zeek Rewards MLM “program” shut down by the SEC two years earlier was in part a scam that caused “victim-investors to file inaccurate tax returns for phantom income they never actually received.” Now, a year later, a member of the TelexFree MLM scheme shut down by the…
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URGENT >> BULLETIN >> MOVING: TelexFree Was Ponzi Scheme Selling Unregistered Securities, Accused Former Interim CFO Says
URGENT >> BULLETIN >> MOVING: (5th update 7:33 P.M. EDT U.S.A.) In a defense filing in the SEC’s securities fraud case against him, former TelexFree interim CFO Joseph Craft says he concluded TelexFree was a Ponzi scheme selling unregistered securities. The acknowledgement, which appears to be the first concession from the TelexFree inner circle that…
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Full Statement By SEC On U.S. Justice Department’s Filing Last Week Of Criminal Charges Against TelexFree Figures
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 22992 / May 13, 2014 Securities and Exchange Commission v. TelexFree, Inc. et al., Civil Action No. 1:14-cv-11858-DJC (United States District Court for the District of Massachusetts) United States v. Carlos Nataniel Wanzeler and James Matthew Merrill, Case No. 14-MJ-4172-DHH (United States District Court for the District…
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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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UPDATE: In SEC’s TelexFree Case, Agency Says Department Of Homeland Security And Sheriff’s Deputy Stopped Nearly $38 Million From Leaving Firm’s Massachusetts Office During Execution Of Search Warrant; Money Is Now Frozen
EDITOR’S NOTE: See story from earlier today on the SEC’s complaint and fraud allegations against the TelexFree “program,” executives and key promoters. ** ______________________________ ** A Bristol County Deputy Sheriff at the scene of a Tuesday raid by the Department of Homeland Security at TelexFree headquarters in Marlborough, Mass., stopped nearly $38 million in cashier’s…
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URGENT >> BULLETIN >> MOVING: SEC Charges TelexFree, Executives And Key Promoters — Including Sann Rodrigues And Faith Sloan
URGENT >> BULLETIN >> MOVING: (19th Update 5:45 p.m. ET U.S.A.) The U.S. Securities and Exchange Commission (SEC) has filed charges against the alleged TelexFree pyramid scheme and a federal judge has granted an asset freeze. TelexFree was a sham to mask an investment scheme known as “AdCentral” in which affiliates were told they could…