Friday, May 30, 2014

News Update 30-MAY-2014: Zeek Receiver First Disbursement Few Months; Sann Rodrigues will NOT get award in Brazilian Congress; Trustee order issued by TelexFree judge

For real news regarding scams and schemes affecting you, stay tuned to REAL news, not bogus news spread through your uplines and similar people out to recruit you.

Zeek Receiver Announce First Distribution Coming 30-SEP-2014

On the ZeekRewardsReceivership website, receiver Ken Bell announced that the first interim distribution is tentatively scheduled for 30-SEP-2014. All people who have filed a claim must have accepted the claim by 15-AUG-2014 to be paid by 30-SEP-2014. Also, those outside of the US must sign the OFACS waiver as well. Please see the update for yourself, as linked above.

Obviously this will NOT be the only distribution, but rather than make victims wait even longer (Zeek was closed in 2012!)  a distribution will be made now while receiver goes after more net winners.

Sann Rodrigues will NOT receive award in Brazilian Congress

An event arranged by a Sao Paolo business leader Regino Barros to honor Sann Rodrigues, accused pyramid scheme TelexFree co-conspirator, and other people, has been cancelled hours before it was to start, according to iG News in Brazil. Sann Rodrigues was scheduled to receive "multi-level marketer of the year" award, according to program notes for the event, where Regino Barros will name Sann Rodrigues to "Multi-level Marketing Regulatory Agency", which is a private organization, despite the official sounding name and is not a government agency, according to iG. The senator who booked the room in Congress for Barros apparently was surprised at seeing Rodrigues' name on the list of honorees, but replied "we should not crucify before we have all the fact." when questioned by iG about Rodrigues. It is unknown if Rodrigues would have attended personally. (in Portuguese)  and thanks to PatrickPretty for the lead

TelexFree Bankruptcy Judge Approves Trustee Takeover of TelexFree

The latest order appearing on the KCCLLC website shows that the Massachusetts judge in charge of TelexFree bankruptcy has signed the order allowing US Trustees, the watchdog agency overseeing bankruptcy, to appoint a trustee to take over TelexFree from existing management.

Please note the fact that a trustee takeover of the company is ONLY DONE in case of FRAUD OR SUSPECTED FRAUD where the existing management cannot be trusted to continue to operate the company. The most famous trustee takeover in recent years was the bankruptcy and liquidation of Bernard "Bernie" Madoff and his 17 BILLION-DOLLAR ponzi scheme

This in no way affects the continued civil and criminal case against the TelexFree 8 (the 8 charged by SEC as co-conspirators to perpetrate the huge Ponzi/Pyramid scheme).

There has been several proclamations by TelexFree followers claiming this somehow means TelexFree will be allowed to restart because it is not a pyramid scheme. Neither statements are true, and in fact, quite bizarre. They should wait until trustee has been appointed, THEN see what the trustee does, before making such wild proclamations, lest you enjoy "boy who cried wolf too many times" tales.

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  1. Actually, almost everything you say is true except that Trustees are put in place ONLY in cases of Fraud and Suspected Fraud. While this assumption supports the general narrative of your blog; and I dont argue with most of your assumptions, trustees are put in place for a host of reasons including those mentioned above.