Following on from a 2017 judgement, James Merrill has now settled with the TelexFree Trustee. The 2017 judgment secured by the SEC was for $3,600,000, already satisfied via forfeiture in Merrill’s criminal case. The TelexFree Trustee was seeking an additional $3 million, paid to Merrill (right) through TelexFree back in 2013. The Trustee sought to […]
James Merrill settles TelexFree fraud with Trustee for $3 mill Read More »
The TelexFree Receiver has sent out an email detailing a second distribution to valid claim holders. As per the email, shared on BehindMLM by a reader, valid claim holders will receive a second distribution payment of 4.5 cents on the dollar. I believe this is calculated on the total allowed claim value, irrespective of the
TelexFree Receiver announces second claim distribution Read More »
Twelve Defendants in the TelexFree class-action filed motions to dismiss the latest Fifth Amended Complaint. Five motions were granted and one was partially granted, leaving six Defendants fully on the hook. The five Defendants who successfully got the case dismissed against them are: The Sheffield Group; PNC Bank, N.A.; International Payout Systems; Garvey Schubert Barer,
TelexFree class-action survives seven Motions to Dismiss Read More »
TelexFree victims participating in the Trusteeship claims process are being targeted by scammers. On September 6th the US Bankruptcy Court for Massachusetts published the following order: The Court having recently received information indicating that fraudulent Court documents have been circulated to claimants in this case accompanied by requests for sensitive information, including bank account information,
TelexFree claimants are being targeted by scammers Read More »
Christopher Loaiza Salazar is a convicted TelexFree scammer in Peru. Stemming from a TelexFree related criminal case opened in 2016, Salazar and “certain of his relatives” were found guilty of aggravated fraud. On the basis those he scammed did or should have filed a claim with the Trustee, Salazar now seeks to overturn his conviction.
TelexFree scammer in Peru seeks to overturn conviction Read More »
On December 30th the TelexFree class-action plaintiffs filed their fifth amended complaint. I didn’t cover it because the only change was a bunch of defendants were added – most of which are banks and payment processors. The complaint itself has blown out to two hundred and eighty-four pages. As a result of this the TelexFree
TelexFree class-action enters fifth amended complaint phase Read More »
Eighteen TelexFree “victims” have won the right to “challenge the accuracy of TelexFree’s records”. It’s a bit of an odd decision, seeing as the “victims” have had plenty of time to prove their claims. The eighteen TelexFree investors (Appellant Participants) who have challenged TelexFree records are: Abdeltif Bellagat Abdelkhalak Toqi Rachid Moukhtari Joseph Nasr Ruben
TelexFree “victims” to challenge company’s records Read More »
On June 4th Abel D. Santana wrote to the court regarding a “fraudulent claim”. Santana identifies himself as a “TelexFree creditor” and wrote to the court to request a review of my claim … filed on June 28, 2016 for $16,768.50. Santana claims he learned his claim was disallowed in November 2020 ‘because a fraudulent claim
Claim for 67 TelexFree accounts denied, investor not happy Read More »
Daniil Shoyfer has been dismissed from the TelexFree class-action. The dismissal was ordered per a judgment of dismissal filed on June 9th. TelexFree class-action Plaintiffs scored an early win against Shoyfer, securing a preliminary injunction and asset-freeze back in 2016. In October 2019 the First Circuit ruled that the TelexFree Trustee ‘has the exclusive jurisdiction
Daniil Shoyfer dismissed from TelexFree class-action Read More »
The TelexFree class-action Plaintiffs have failed to secure a preliminary injunction against Dustin Sparman and Vantage Payments. Class action Plaintiffs had sought a preliminary injunction on the basis ‘Sparman received significant gains through his interest in Vantage Payments’. As alleged in the injunction motion, Vantage Payments assisted TelexFree with laundering $86.9 million in stolen investor
Injunction denied against Sparman & Vantage Payments Read More »
