Tag: TelexFree investigation
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BULLETIN: Massachusetts Securities Division Issues TelexFree Complaint Form; Commonwealth Secretary William Galvin Publishes Brochure On How To Steer Clear Of Pyramid Schemes
BULLETIN: (UPDATED 5:56 P.M. EDT U.S.A.) The Massachusetts Securities Division (MSD) has published a complaint form for TelexFree investors. Massachusetts Commonwealth Secretary William Galvin, who oversees MSD, also has published a brochure titled, “Illegal Pyramid Schemes Disguised as Multi-level Marketing Businesses (MLMs).” Galvin’s investigators alleged on April 15 that TelexFree was a combined Ponzi- and…
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URGENT >> BULLETIN >> MOVING: Massachusetts Securities Division Says TelexFree Is Billion-Dollar Ponzi And Pyramid Scheme That Targeted Brazilian Community
URGENT >> BULLETIN >> MOVING: (11th update 3:03 p.m. EDT U.S.A.) The state of Massachusetts has alleged that TelexFree is a “massive” Ponzi- and pyramid scheme that gathered more than $1.2 billion and targeted the Brazilian community. In alleged dollar volume, TelexFree appears to be at approximately the same level of the epic Scott Rothstein…
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UNBELIEVABLE: Bundle Of 550 TelexFree ‘AdCentrals’ Advertised For $16,760, A Purported Discount Of $8,190; Purchaser Will Receive ‘Minimum’ Guaranteed Payout Of $56,100 — And Maybe Even $110,000, Pitch Claims
UPDATED 12:14 P.M. EDT (U.S.A.) Being under investigation in Brazil and Massachusetts and getting kicked out of Rwanda apparently isn’t viewed in MLM La-La Land as a strong-enough clue that it’s time to give up the TelexFree ghost. Or maybe it is — and the TelexFree-related fire sales have begun. It wouldn’t be the first…
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In Face Of International Probes And Legal/PR Disaster In Africa, TelexFree Launches PR Campaign That Only Raises More Questions
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…
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Government Of Rwanda, Citing Pyramid And Money-Laundering Concerns, Bans TelexFree Enterprise After Joint Probe With Nation’s Central Bank
The Ministry of Trade and Industry of the Republic of Rwanda has announced that a TelexFree enterprise has been banned in the country after a joint investigation with the National Bank of Rwanda, the nation’s central bank. Central banks control monetary policy in their respective countries. Other examples of central banks include the Bank of…
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URGENT >> BULLETIN >> MOVING: Massachusetts Confirms TelexFree Probe
URGENT >> BULLETIN >> MOVING: The office of Massachusetts Commonwealth Secretary William Galvin has confirmed an investigation into the TelexFree MLM “program” is under way. “There is an investigation going on, but I can’t comment beyond that,” said Brian McNiff, a spokesman for Galvin. The brief statement to the PP Blog marks the first confirmation…