Tuesday, June 17, 2014

News Update 17-JUN-2014: TelexFree James Merrill out on bail; TelexFree trustee subpoena everybody for info; TelexFree victims tell their stories to Boston Globe

Hook, Line, Sinker (How I fell for a phishing ...
Hook, Line, Sinker (How I fell for a phishing scam) (Photo credit: ToastyKen)
Remember folks, read trustworthy sources, not random internet blog posts and Facebook messages. I give you the source of my info, so you can see for yourself.

TelexFree co-owner James Merrill let out on bail

According to Boston Globe, TelexFree co-owner James Merrill was allowed out of jail when the judge decided the criteria for his bail is high enough, which includes:
  • THREE houses for collateral, including 2 owned by him and one by his sister ($900000 bond)
  • Wear a GPS tracker
  • Not leave the state
  • Give up his passport
  • Must stay at home between 8PM and 8AM
Federal judge Tim Hillman ruled that unlike Merrill's partner Carlos Wanzeler, who had previously fled to Brazil (where he's originally from and still have relatives there), Merrill has deep ties to the Massachusetts community and really has nowhere to run outside of the US. 

NOTE: Click through to see actual judge ruling in this bail hearing

TelexFree trustee subpoenaed everybody for information

With little to go on how to administer the estate of TelexFree, the new bankruptcy trustee for TelexFree, Stephen Darr went for the fastest way: he subpoenaed all the different firms that advised TelexFree, which includes:
  • PriceWaterhouseCoopers (former financial advisors)
  • Alvarez and Marshal / William Runge (restructuring advisors)
  • Kurtzman Carson Consultants (bankruptcy claims / noticing agent)
  • Gordon Silver (TelexFree lawyers in Nevada)
  • Greenberg Traurig (TelexFree lawyers in Massachusetts)
The subpoena demands any and all documents, emails, correspondences, phone (cellular or landline) records pertaining to TelexFree, affiliates, or subsidiaries, any and all financial accounts and related documents, any and all disbursement registers for every account, any documents relating to financial information, esp. those involving Global Payroll Gateway, International Payout Systems, Propay, etc. any and all tax documents, state or Federal, any and all internal financial statements, any and all properties and other assets including intellectual properties, any appraisal of such assets, any and all communications and other documents involving TelexFree or affiliates, creditors, and more.