TelexFree under investigation in Oregon
In a recently filed memo, as found by PatrickPretty.com, Oregon joined Nevada and Minnesota in their slow-move to deny the TelexFree telecom license applications, which was previously started by Joe Isaacs of ISG Telecom when he was helping TelexFree. When the ruse by TelexFree was discovered, Joe Isaacs quickly sent letter explaining he was duped, and he's no longer involved, and all the numbers he filed for TelexFree may have been lies.
http://patrickpretty.com/2014/05/27/telexfree-faces-prospect-of-regulatory-probe-in-oregon/
Judge Signals Quick Approval for Trustee Takeover of TelexFree
(Wall Street Journal) In the first bankruptcy court session in Massachusetts, Judge Holman said he will appoint a trustee to take over the company from the existing management as soon as all the paperwork are in. All parties, including the SEC, US Trustee, DOJ, and TelexFree have no objection or approve of the trustee takeover.
http://online.wsj.com/news/articles/SB10001424052702303403604579588452063956192
Editor's note: This news was passed around by TelexFree affiliates as a "great victory". It is NOT a victory.
Facts are
- Trustee has not yet been appointed yet (soon)
- Appointment of trustee does NOT stop the criminal and civil investigation by DOJ and SEC
- Appointment of trustee does NOT stop the class action lawsuit
- Trustee takeover means EVERYBODY in the company is FIRED. It's be like a receiver (like the one for ZeekRewards) who, under supervision of the judge, can SUE people to see return of assets to pay the creditors (i.e. all of you who are owed money).
Whoever told you that the bankruptcy has been "granted" is false, and obviously this does NOT prove or disprove that TelexFree is a pyramid scheme. Company is DEAD.
For a look at what a bankruptcy trustee can do, look up "Irving Picard", who's the trustee for Bernie Madoff's ponzi scheme.
