BULLETIN: Massachusetts Bank For TelexFree Settles With Securities Division For $3.5 Million; All Settlement Proceeds Will Go To Victims In The State; Bank Will Establish ‘Massachusetts Victim Relief Fund’
BULLETIN: (3rd Update 1:34 p.m. EDT U.S.A.) A Massachusetts bank that established accounts for TelexFree and whose president is the brother of alleged TelexFree Ponzi- and pyramid-schemer James Merrill has settled with the Massachusetts Securities Division for $3.5 million. The settlement between MSD and Fidelity Co-operative of Fitchburg means that an escrow account consisting of […]
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 […]