Monday, April 21, 2014

Ponzitracker explains What's Next for TelexFree Victims

Jordan Maglich, otherwise known as Ponzitracker (and runs, has an article up titled  "What's Next for TelexFree Victims"

The important stuff is at the end, and excerpted below:

One step that those affected parties can take today is to begin gathering all evidence of their relationship and investment with TelexFree.  This includes agreements, negotiated checks and credit card statements, and bank statements showing any deposits and/or withdrawals.  This information will be necessary, if not required, in connection with submitting claims to the Bankruptcy Court. 
Regarding claims, each interested party will most likely have the opportunity to submit Proof of Claim Forms to the Bankruptcy Court to properly document their entitlement to any earmarked funds.  Perhaps the most crucial guidance surrounding these claims is that attention must be paid to the deadlines imposed by the Court for submission of Proof of Claim forms and any other documents - untimely or tardy claims fare a much less chance of being approved than a timely claim.  A copy of a blank Proof of Claim Form is embedded below and downloadable here.  While the filing of a Proof of Claim may not be required if the case proceeds as a Chapter 11 proceeding and the particular debt is listed in the correct amount in the schedules filed with the Court, the submission of a Proof of Claim may still be advised.

While you don't need to fill out such a "proof of claim" for at this time (and please do NOT fill one out and send it to the court, it'll just delay the case), it should help you organize your claims when the courts got things sorted out and the reclamation process begins.
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  1. Just to remind you people that telexfree has invested out of USA so I'm from Africa in Rwanda so we need to know what is going on in the court It is that all telexfree asset are under protection and control of the court but we need to be informed day to day about the audience and let the court know that telexfree has creditors in Uganda,Rwanda,Burundi,Kenya and so on. So all these people need to be repaired by the court

  2. Just to let the Nevada Authority know that Telexfree had investors in Nigeria and other African Nations, they should equally consider our proof of claims and give us time to file when the need arises.