TelexFree

Injunction sought against Dustin Sparman & Vantage Payments

Frauds, TelexFree

The TelexFree class-action plaintiffs are seeking a preliminary injunction against Dustin Sparman and Vantage Payments. The TelexFree class-action plaintiffs allege Sparman and Vantage Payments ‘played an instrumental role’ in the operation of TelexFree. Sparman received significant gains through his interest in Vantage Payments, LLC, which characterized itself as an “independent sales agent” and procured payment […]

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TelexFree class-action Fidelity Bank settlement approved

Frauds, TelexFree

A proposed $22.5 million dollar settlement with Fidelity Bank has been approved. As part of a class-action against multiple defendants, plaintiffs reached a settlement agreement with Fidelity in July 2020. The settlement was given final approval on February 26th. Later that same day Fidelity Bank and John Merril were dismissed as defendants. An article published

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29,000 TelexFree victims have still not filed payment info

Frauds, regulation, TelexFree

A motion filed by the Trustee reveals around 29,000 TelexFree victims have still failed to provide payment information. The Trustee puts down the failure to provide information to ‘geographical location, language barriers and relative lack of business sophistication’. Here at BehindMLM we’ve had a steady stream of comments from TelexFree victims seeking help with the

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Court confirms Fabio Wanzeler a TelexFree Ponzi scammer

Frauds, regulation, TelexFree

Fabio Wanzeler’s request that he not be recognized as a TelexFree net-winner, i.e. someone who scammed TelexFree victims out of money, has come to an end. On December 21st the US Bankruptcy Court in Massachusetts denied Wanzeler’s motion. To add context, Fabio Wanzeler is the brother of TelexFree co-owner Carlos Wanzeler. TelexFree was a $3

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TelexFree class-action touts $22.5M Fidelity Bank settlement

Frauds, TelexFree

I haven’t really been paying attention to the TelexFree class-action case. Mostly due to figuring it wasn’t going to go anywhere competing against the SEC’s own civil case. Turns out maybe I should have been following along. On July 7th class plaintiffs entered into a $22.5 million dollar settlement with Fidelity Co-operative Bank. You might

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Faith Sloan confirms CashFX Group securities fraud

CashFX Group, companies, Frauds, TelexFree

Serial securities law offender Faith Sloan has confirmed CashFX Group is engaged in securities fraud. In doing so, she’s also confirmed repeated violation of her 2019 TelexFree final judgment. Sloan admitted CashFX Group is an investment opportunity in an October 9th Facebook live event. [10:04] CashFX is a platform where many people have made some

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TelexFree victims receive early recovery distribution payments

Frauds, regulation, TelexFree

Like most of you we weren’t really sure why a January 13th, 2021 date for distribution payments was set. Turns out that was more of a deadline, following reports from multiple TelexFree victims of received payments. Starting a few hours ago, TelexFree victims started to report having received emails confirming payment through PayPal. In one

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