Stephen B. Darr

URGENT >> BULLETIN >> MOVING: (10th Update 8:53 p.m. ET U.S.A.) In his first formal report to the Massachusetts bankruptcy court, TelexFree Trustee Stephen B. Darr calls the company a “pyramid scheme” that may have involved 1 million or more participants globally and gathered as much as $1.8 billion through arms in the United States […]

Meet the man tasked with paying out claims to victims of the alleged TelexFree scam. http://t.co/pzwszb8ky0 pic.twitter.com/7tkqlh8mRD — The Boston Globe (@BostonGlobe) December 16, 2014 The Boston Globe is reporting today that TelexFree bankruptcy trustee Stephen Darr has been told that 60,000 victims of the alleged MLM Ponzi- and pyramid scheme exist in South Africa […]

BULLETIN: The court-appointed trustee in the TelexFree bankruptcy case is seeking authority to issue subpoenas and obtain information from eight financial institutions, including Puerto Rico-based Oriental Bank. The other seven are Digital Federal Credit Union, based in TelexFree’s headquarters city of Marlborough, Mass., Bank of America, JPMorgan Chase, Citizens Bank, Santander, TD Bank and Wells […]

The TelexFree probe continues in the United States, with prosecutors revealing today that federal agents served a search warrant on Google on Oct. 16 that sought a “substantial amount” of content on YouTube. Precisely what content prosecutors are seeking was not immediately clear. Google told agents that “compliance will take several weeks,” according to the […]

1.) Reports began to surface late Thursday on Twitter and Facebook that TelexFree has been cleared by a judge of U.S. pyramid-scheme charges. These reports are false. Period. Perhaps to add credibility to the claim, a photo that appeared to depict a female TV reporter sitting in a studio was posted on Facebook. A computer […]

EDITOR’S NOTE ADDED 1:32 P.M. EDT SEPT. 28 U.S.A. TelexFree.com appears to be back online. At this time, why the landing page wouldn’t load remains a mystery. Our earlier story is below . . . The website of TelexFree, alleged in April by the SEC and the Massachusetts Securities Division to have operated a billion-dollar […]

One of TelexFree’s alleged reality-distortion fields has been formally exposed. Perhaps you saw the recruitment promos (both corporate and affiliate) that planted the seed TelexFree was the sole occupant of a large building in Marlborough, Mass. Former President James Merrill was shown posing in front of the structure. A caption on TelexFree’s website read, “The […]

Longtime HYIP huckster and TelexFree figure Faith Sloan has been banned by Illinois from selling securities. The prohibition order is dated June 9. It was issued by the Securities Department of Illinois Secretary of State Jesse White. The state found that Sloan, an Illinois resident, operated a TelexFree-related website and acted as an unregistered securities […]

UPDATED 11:16 P.M. EDT U.S.A. We now may have an answer to some or all of these questions: What happens when you’re Massachusetts-based TelexFree — and apparently so out of touch that Sann Rodrigues, a former SEC defendant in a pyramid-scheme and affinity-fraud case, becomes one of the most recognizable public faces of your company […]

URGENT >> BULLETIN >> MOVING: (1st Update 8:50 P.M. EDT U.S.A.) The TelexFree trustee said in court filings today in the SEC’s civil case against the firm that he has “no intention of reorganizing or reactivating their businesses” and — based on information and belief  — “they were in fact engaged in a Ponzi or […]

Stephen B. Darr, senior managing director of Mesirow Financial Consulting LLC of Boston, has been appointed trustee in the TelexFree bankruptcy case. The appointment was made by William K. Harrington, the United States’ Trustee, based on the order of U.S. Bankruptcy Judge Melvin S. Hoffman. The office of the U.S. Trustee is the bankruptcy watchdog […]