Tag: TelexFree
-
BULLETIN: Cash, Weapons, Electronics Reportedly Seized In TelexFree-Related Raid In Dominican Republic; Alleged Promoter Labeled Fugitive
BULLETIN: (Updated 12:27 p.m. EDT U.S.A.) A TelexFree-related police raid coordinated by prosecutors in the Dominican Republic has resulted in the seizure of cash, at least two weapons and computer (tablets) and phone equipment (smart phones), the Public Ministry says in a statement in Spanish. The weapons were identified as a pistol and a shotgun.…
-
TelexFree Live Bankruptcy-Court Coverage By Jordan Maglich Of Ponzi Tracker
Jordan Maglich of PonziTracker is providing live coverage of today’s key TelexFree session in U.S. Bankruptcy Court in Nevada: 12:44 p.m. Hearing beginning: Click here. 1:07 p.m. PPBlog note: Based on Jordan’s reporting, it looks as though the U.S. Attorney’s office has filed civil and criminal forfeiture actions. This is similar to what happened in…
-
DEVELOPING STORY: Reports Of TelexFree-Related Arrests In Dominican Republic
(2ND UPDATE 11:39 A.M. EDT U.S.A.) In the hours leading up to a key appearance by TelexFree in Bankruptcy Court in Nevada today, there are reports in Dominican media that a TelexFree-related police raid occurred in San Pedro de Macoris and that arrests were made. TelexFree is accused in the United States of operating a…
-
BULLETIN: Trustee: ‘It Appears That [TelexFree’s] Merrill, Wanzeler, And Craft Have All Fallen Down The Rabbit Hole And Are Now Expecting The [Bankruptcy] Court To Follow’
BULLETIN: In a blistering response to TelexFree’s bid to continue its business and move forward with its Chapter 11 bankruptcy case, the United States’ trustee said the embattled firm has not engaged “in full and fair disclosure.” “The former CFO and board members have disappeared with no explanation,” U.S. Trustee Tracy Hope Davis alleged. “The only…
-
Federal Judge To Accused TelexFree Promoter: Sell Your Bimmers And Land Rover
(UPDATED 8:05 A.M. EDT U.S.A.) Alleged TelexFree promoter and securities fraudster Santiago De La Rosa has been ordered by the federal judge presiding over the U.S. Securities and Exchange Commission’s Ponzi- and pyramid case to sell two BMWs and a Land Rover Range Rover “back to the dealership” and to “repatriate all funds located outside…
-
BULLETIN: Montana Halts TelexFree; State Says Firm Supplied Incomplete, Inaccurate Information And Continued To Operate After Claiming It Had Pulled Out
BULLETIN: The state of Montana has issued a Cease and Desist order to TelexFree, revealing it had been unsuccessfully seeking complete information from the MLM “program” for months and alleging that TelexFree continued to do business in the state after claiming it had pulled out. The April 23 order was issued by the office of…
-
Zeek Ponzi-Scheme Figure T. LeMont Silver Now Spokesman For Florida ‘Expat’ Lifestyle In Dominican Republic
(UPDATED 9:33 A.M. EDT, APRIL 27 U.S.A.) T. LeMont Silver, a pitchman for the $850 million Zeek Rewards Ponzi scheme and the OneX pyramid scheme, is now a spokesman for the “Florida Expat” lifestyle in the Dominican Republic, which recently has been rocked by what the U.S. Securities and Exchange Commission describes as the collapse…
-
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…
-
URGENT >> BULLETIN >> MOVING: SEC Enters TelexFree Nevada Bankruptcy Fray — Plus Confirmation That U.S. Attorney’s Office Part Of Probe
URGENT >> BULLETIN >> MOVING: (Updated 6:24 P.M. EDT U.S.A.) The U.S. Securities and Exchange Commission has entered the TelexFree fray in Nevada Bankruptcy Court and has petitioned the judge to transfer the case to Bankruptcy Court in the Central District of Massachusetts, an area that is a potential TelexFree stronghold. The Central District covers…