TelexFree owners paid themselves and more millions with participant money
TelexFree, according to SEC, only sold $1.3 million dollars worth of VOIP over 2 years that it operated. However, its owners passed out checks worth much more in the last six months. Here's some highlights, according to SEC's forensic accountant:
Albers [SEC forensic accountant] said TelexFree transferred a total of $3.1 million to Merrill Dec. 26  and the following day. Over those same two days, the company moved $7.3 million to Wanzeler, who wired half that amount to a Chinese bank in Singapore a week later, Albers said in court documents.
There’s lots more: TelexFree sent more than $2 million to companies controlled by chief financial officer Joseph Craft between last November and March of this year. He was in the office when FBI agents raided the company, and he tried to walk out the door with $38 million in cashier’s checks. Among those checks: one made out to Wanzeler’s wife for another $2 million.Now consider this simple question: if they sold only $1.3 million worth of VOIP over 2 years, where did all that $7.3 mil, $3.1 mil, $2 mil, and $38 mil come from?
Nevada Attorney General will "Intervene" in TelexFree's telecom approval
According to documents spotted by PatrickPretty.com, Nevada Attorney General / Consumer Protection Bureau has filed "intent to intervene" in regard of TelexFree licensing issues with the Nevada Public Utilities Commission.
This appears to be in reaction to the Joe Isaacs / ISG Telecom letter apparently sent to all 50 states (and DC) that he was lied by TelexFree to and the information submitted to various commission to "prove" TelexFree is a viable company, many of which were "submitted under seal" and thus not for public review, may be utter fabrications.
What that really means is Nevada AG wants to throw out the entire application for telecom license to operate in Nevada in light of the new information, such as TelexFree's bankruptcy and charges by SEC and Massachusetts SecState of being a huge Ponzi scheme.
Expect other states to follow in the next few days. TelexFree should have all of its telecom license invalidated within a few weeks. They were likely fraudulently obtained through filing of false information.
Also see BehindMLM: TelexFree communications registrations in jeopardy?
But wait, there's more!
Sann Rodrigues wants to lead what's left of TelexFree members... to what?
Sanderlay Rodrigues de Vasconcelos, aka Sann Rodrigues, was no stranger to SEC action, because his previous attempt at a ponzi scheme, FoneClub Universo, was closed by SEC in 2006. This time, he's getting charged of being a promoter for TelexFree, and is named as one of the 8 conspirators.
Did Sann Rodrigues make a lot of money? He has the title "First US Millionaire TelexFree". There are plenty of photos and videos of Sann Rodrigues (and family) posing in front of his Florida mansion and his stable of exotic cars, including a Mercedes SUV, a Ferrari, a Lamborghini, and so on, all were attributed to his faith... and TelexFree.
So what was his reaction upon being named a co-conspirator?
First, proclaim "no! I'm a victim! I trusted TelexFree lawyer! It's all his fault!"
Second, hold a meeting for his team "Sann Rodrigues World Network" where he claims 1) He's going to fit his team into the Brazilian lawsuit, the bankruptcy, and defend his team against the SEC, 2) by offering "an association who will represent and defend them directly to ensure their best interest before any judicial process in any part of the world". 3) He will introduce his team to a new opportunity... maybe.
Frankly, nobody else needs defending... EXCEPT SANN RODRIGUES HIMSELF!
This is strangely reminiscent of Zeek Rewards. When Zeek was closed, certain... individuals claimed they have evidence to exonerate Zeek, then claimed to represent the interests and solicited donations to help defend Zeek... and at every turn sought to delay the receiver (such as appointing their own attorney as"examiner" to oppose the receiver). It was all denied. Then this "team" tried to recruit people into secondary shady deals, and some of them got sour and there were legal actions... or at least legal threats.
If you were already scammed by a scammer, would you trust a scammer to defend your rights and fighting by your side?
Only if you're blind to reality.
Dominican Republic to start investigation into TelexFree, entire island victimized
Dominican Republic, one of the poorest nations in the world, was especially hard hit by TelexFree. In a single day, all three daily papers put TelexFree fraud on their front page:
And yes, that's TelexFree Dominicana headquarters in the picture.
Also keep in mind that TelexFree is trying to send several million to this branch in form of cashier's check... and its CEO tried to flee the office WITH the check (along with other checks total 38 million dollars) even as Federal agents raided the place.
The DR government did little if anything to stop TelexFree despite warnings all around the world, as it was frozen in Brazil back in June 2013. However, it finally sprung into action... by starting an investigation.