Tag: Ympactus Comercial Ltd
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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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Washington State Rejects TelexFree Bid To Register As Telecommunications Firm
The Washington State Utilities and Transportation Commission has rejected a bid by TelexFree LLC to register as a telecommunications company. TelexFree LLC is not registered as a corporation in Washington state and therefore is ineligible to be registered as a telecommunications firm in the state, the commission said in a finding dated March 13. How…
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Did TelexFree Affiliates Fund Millions Of Dollars In Loans To Various TelexFree-Connected Enterprises?
A document published on the website of the Washington State Utilities and Transportation Commission claims that TelexFree LLC has provided millions of dollars in loans to other TelexFree enterprises, including a Nevada entity known as TelexElectric LLLP. The loan sum was more than $2.022 million, according to the document. The business purpose of TelexElectric was…
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Scrutiny Of TelexFree Intensifies; 2 European Police Agencies Issue Warnings And Say Madeiran Community At Risk
Updated 9:45 a.m. (Feb. 27, 2014, U.S.A.) Police who serve Portuguese-speaking residents in two British Crown dependencies — the States of Jersey and Guernsey — have issued warnings on the TelexFree scheme. News of the warnings was published on BehindMLM.com. Brazil-based TelexFree executive Carlos Costa waved the flags of Portugal and Madeira in a curious…
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Will Portugal Be Next Country To Open TelexFree Probe?
Citing reports in Brazilian media, BehindMLM.com is reporting that authorities in Portugal are monitoring TelexFree developments and beginning to collect documents. The development may signal that yet-another probe into TelexFree’s business practices is in the offing, potentially the first in Europe. From BehindMLM.com (italics added): According to the local media there are currently 41,000 TelexFree…
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TelexFree Says It Seeks Bankruptcy
UPDATED 7:21 A.M. ET Jan. 21, 2013, to correct misspelling. With pyramid-scheme probes under way in multiple Brazilian states and affiliates also filing actions against the company, TelexFree says it is seeking bankruptcy protection in Brazil. Early details are sketchy. Here’s TelexFree executive Carlos Costa making the announcement while waving the flags of Portugal and…