Tag: TelexFree Massachusetts Victim Relief Fund

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…

Sep 22, 2014

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’