USFIA Raided by SEC, FBI, etc. on 29-SEP-2015, assets frozen, company seized

Multiple news sources, including onsite witnesses, have reported that FBI, SEC, and several other agencies have raided USFIA on 9/29/2015 and froze its assets, and appointed a receiver to take over.

San Gabriel Valley News

SGVT: U.S. Government seizes Arcadia company's assets in GemCoin fraud case (29-SEP-2015)

Scam Post-Mortem: TelexFree location lies confirmed by authorities

Back in July 2013, LONG before TelexFree got raided (April 2014) by DHS, FBI, etc. MLMSkeptic had warned the readers about how TelexFree office is a virtual office, and its co-owner, James Merrill, is allowing misinformation, such as "TelexFree own the whole building" to be perpetuated by its members in multiple languages on multiple continents.

Today brings an end to that chapter of the TelexFree lie; the bankruptcy trustee has terminated the $5944 per month lease of the TelexFree office, which only started January 2014 and is scheduled to run through March 2015. By forfeiting the deposit and a portion of the furnishings, the lease has been terminated, saving tens of thousands of dollars that can be repatriated to the victims of TelexFree.

In other words, it took another 5 MONTHS (July to December 2013) of constant pressure by "promoters" to convince TelexFree that they need a "real" office rather than the virtual one they had been touting. And they are willing to pay THOUSANDS of dollars a month just to keep up appearances, with office staff that does nothing except to smile and look busy, and there were only 7 of them for a company that allegedly did 1 billion dollars of business a year, according to themselves.

It is further alleged that in 2013, TelexFree reported sales of $1.016 billion, while known sales of the TelexFree VoIP product represented less than 0.1 percent of TelexFree’s total revenues.  --- FBI press release 

But TelexFree — whom some affiliates say is a $1 billion company with a VOIP product — has only seven employees at its Marlborough office, according to regulatory filings in Tennessee. These employees work in “administration, sales and marketing, accounting, and operations positions.”  -- PatrickPretty.com

That can't be legit.

But wait, there's more!

NEWS UPDATE 22-MAY-2014: FBI / HSI Victim Reports; Uganda makes TelexFree arrest; Nevada Denies TelexFree telecom license; Ponzi Experts Talk TelexFree

FBI Badge & gun. (Photo credit: Wikipedia)

News Update for 22-MAY-2014


FBI Needs TelexFree Victims' Help

Federal Bureau of Investigations (FBI) and Homeland Security Investigations (HSI) needs more victims of TelexFree to step forward and report how they are victimized. Please go to the following link to visit the FBI webpage, and fill out a questionnaire at the end.

http://www.fbi.gov/stats-services/victim_assistance/seeking-victim-information/telexfree-inc.-case


Please note this is for the CRIMINAL case, which is separate from the CIVIL case pursued by SEC

http://patrickpretty.com/2014/05/15/update-for-speakers-of-spanish-or-portuguese-secs-telexfree-complaint-now-available-in-your-language/


Uganda Makes First TelexFree related arrest

Uganda makes the first TelexFree related arrest of a local Ronald Muramuzi, who apparently was recruiting people into multiple HYIPs under multiple aliases and alternate names, and thus making himself quite rich. He's alleged to have profited by 2.37 Million USD (over 4 billion UGX)

http://behindmlm.com/companies/telexfree/top-ugandan-telexfree-affiliate-arrested/