Based on data ready by disgraced accountant Joseph Craft, TelexFree transferred $500,870 to Telex Cell and $2.02 million to TelexElectric between 2012 to 2014.
For all intents and functions Telex Cell and TelexElectric have been shell firms owned by Carlos Wanzeler and James Merrill.
Arguing that neither firm supplied any companies to TelexFree in trade for the switch of funds, the SEC has filed for default judgment.
TelexFree Cell and TelexElectric are aid defendants within the SEC’s 2014 TelexFree lawsuit.
As of August 2018 neither TelexMobile or TelexElectric had opted to defend the SEC’s motion.
This prompted the regulator to file for an entry of default on August ninth, which was made by the court docket clerk on August thirteenth.
The SEC’s Movement for Default Judgment was filed on September twelfth and is awaiting a choice.
Replace seventh November 2018 – On November 2nd the SEC was granted Remaining Judgment agaisnt TelexElectric ($2.02 million) and Telex Cell Holdings ($500,870).