Monday, April 21, 2014

Ponzitracker explains What's Next for TelexFree Victims

Jordan Maglich, otherwise known as Ponzitracker (and runs Ponzitracker.com), 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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Sunday, April 20, 2014

BREAKING NEWS: TelexFree's consultant "ISG Telecom" quits, calls TelexFree "alleged crooks"

TelexFree, despite its name, has NO license to operate long distance until recently neither in US nor Brazil. That only changed when they hired ISG Telecom and its head, Joe Isaacs and received an FCC license in the US in late 2013. It is in the process of applying to various states when the bankruptcy hit.

Mr. Isaacs has a history with MLM through FHTM, but that's a separate story altogether.

On April 18th, 2014 (Friday), Joe Isaacs issued a letter to all the state commissions he had applied to on behalf of TelexFree, stating that he had been lied to, the financial statements are utter fabrications, and the affidavits filed are probably lies too. He quit!

You can read the letter, as spotted by a BehindMLM member "Farao" on the Washington State UTC website:



Good job, Mr. Isaacs. Sure wish you never took on this "hot potato", eh? Better late than never.

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Scam Absurdities: Why is TelexFree insulting law enforcement?

FBI and HSI agents collect evidence from TelexFree office after the raid
Photo by MetroWest Daily News, see original article at
http://www.metrowestdailynews.com/article/20140418/NEWS/140416010
Most suspects, when caught by law enforcement, would have the common sense to shut their mouths and let their lawyer do the talking, and their lawyer would not do any thing to insult law enforcement, calling them mistaken, unless they actually have proof, and only if they want to try this in the court of public opinion.

Given that TelexFree, which was already frozen in Brazil 8 months ago, and is under investigation all over the world, and was recently raided by no less than FBI, HSI, ICE, SEC, state police, deputy sheriffs, and who knows what else, you'd think they'd just shut the **** up. But no, they had to send out a press release that basically said the law enforcement are "mistaken and misleading" regarding the incident where they caught Joe Craft trying to take a bag containing a laptop and 36 million in cashier's checks out of the premise WHILE law enforcement are conducting a warrant search.


First, the report, as given to a judge:

Complaint given to judge, courtesy of Asdupdates.com
see original at https://sites.google.com/a/asdupdates.com/files-website/sec-v-telexfree-inc  DOC10.pdf
The facts are pretty clear:

FACT: Joe Craft lied (he's CFO and he said he's a "consultant")
FACT: Joe Craft tried to take assets worth almost 38 million USD out of office being searched
FACT: Joe Craft failed and all the cashier's checks are kept by HSI as evidence.
FACT: Checks are made out to TelexFree LLC, Katia B. Wanzeler, TelexFree Dominicana (but can also be deposited into accounts of Carlos Wanzeler and James Merrill as they are the purchasers).

But guess what TelexFree chose to interpret the event as?

QUOTE: "The reports that Mr. Craft attempted to abscond with a laptop and cashier’s checks are false."

So what sort of convoluted logic did they use to justify their reality distortion? That's in their press release.


Friday, April 18, 2014

BREAKING NEWS: TelexFree bankruptcy hearing delayed until April 21st

When Zeek Rewards ponzi was shut down there was a TON of crap info online released by people who have absolutely no idea what they are talking about, most of them fantasies like "it's just temporary", "Zeek is moving to Europe", "SEC doesn't have a case", "SEC lawyers admit in private they have no case", "Paul Burks was railroaded and his attorney is weak", and so on and so forth. People are simply in denial about reality.

And now the SAME THING is happening with TelexFree pyramid scheme (or Ponzi, depending on how you count). People in Brazil, who barely reads English, are releasing fake news or misinterpreted news, all of them 'good' news for TelexFree, of course. Items such as "they're just protecting our money", "evil government", "they are just allegations", "3 judges have signed off approving bankruptcy", "FIVE judges liked the bankruptcy plan"... and so on and so forth.

Don't believe crap info passed on by other people. GO TO THE SOURCE (remember "The Matrix"?)

The source says the proceedings have been "continued" (delayed) until April 21st, 2014.

http://www.kccllc.net/telexfree/document/1412524140418000000000004

One judge: August B. Landis.

Everybody else named on the credits are lawyers.

Bankruptcy has NOT been approved. And given the raid conducted by Massachusetts, SEC, FBI, HSI, ICE, and who knows what else, and charges filed, including temporary restraining order filed by SEC, IMHO, chances of bankruptcy being approved will be ZERO. Even if it was approved, it will be IMMEDIATELY appealed by SEC and rescinded by another judge.

So don't pass around bad info, esp. the ones you *want* to be true. You will be embarrassed when it turned out to be fake.
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Thursday, April 17, 2014

BREAKING NEWS: SEC calls TelexFree "illegal pyramid scheme", charged top promoters AND company execs with fraud

With TelexFree attempting to dodge the impending guillotine via bankruptcy, and Massachusetts decided it cannot wait any more, SEC finally filed its own lawsuit... and it's a doozy.

You can read the full lawsuit here:
http://www.sec.gov/litigation/complaints/2014/comp-pr2014-79.pdf

Basically, what BehindMLM had warned people for YEARS, and what I've told everybody about TelexFree... that it's a fake company, and everything else is a fake... was ALL validated by the SEC.

And the following people are named in the lawsuit:
TELEXFREE, INC.,
TELEXFREE, LLC,
JAMES M. MERRILL,
CARLOS N. WANZELER,
STEVEN M. LABRIOLA,
JOSEPH H. CRAFT,
SANDERLEY RODRIGUES DE VASCONCELOS,     (i.e. Sann Rodriguez)
SANTIAGO DE LA ROSA,
RANDY N. CROSBY and
FAITH R. SLOAN,
Defendants,
and
TELEXFREE FINANCIAL, INC.,
TELEXELECTRIC, LLP and
TELEX MOBILE HOLDINGS, INC.,

But here's the most interesting part... Apparently Joe Craft, TelexFree's Chief Financial Officer, tried to sneak out with laptop (presumed to contain critical evidence) and multiple cashier's checks worth 36 MILLION DOLLARS. He was stopped by Sheriff Deputies and items confiscated.

Here is one of them... for 10.4 MILLION dollars, purchased by Carlos Wanzeler (upper left corner) to be sent to TelexFree Dominicana, eh?

SEC evidence, as obtained through TelexFree raid,
courtesy of ASDUpdates through PatrickPretty.com
There are various other checks, made out to various TelexFree entities such as TelexFree LLC, and even Katia Wanzeler, Carlos Wanzeler's wife, and Wanzeler himself.

Wednesday, April 16, 2014

BREAKING NEWS: iPayout Cuts off TelexFree eWallet, and TelexFree "office" closed in Dominican Republic

iPayout, upon warning by Massachusetts Attorney General, has apparently pulled the plug on TelexFree's eWallet, despite previously claiming that it had only few months ago checked out TelexFree and sees nothing wrong.

In other news, Dominican Republic is in an uproar when TelexFree's "local office" locked its doors. It is estimated that 150000 people may have joined.
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BREAKING NEWS: Sann Rodrigues, TelexFree "Top Promoter", says blame TelexFree lawyer Gerald Nehra

iG, news in Brazil, managed to track down Sann Rodrigues, TelexFree's "top promoter" in 2013, for an interview, since the Massachussetts complaint (that alleged TelexFree is a global 1 BILLION dollar fraud) mentioned his name.

In the interview, Sann Rodrigues basically claimed "I am a victim", then basically rolled Gerald Nehra, TelexFree's US lawyer, under the bus, by essentially blaming him for everything.

Once should recall that Sann Rodrigues is believed to have met Gerald Nehra before... when his FoneClub Universo was closed by the SEC.

http://economia.ig.com.br/2014-04-16/hoje-sou-uma-vitima-da-telexfree-diz-maior-divulgador-da-empresa.html
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