After what feels like far too long, news today that TelexFree co-founders Carlos Wanzeler and Carlos Costa have been arrested in Brazil. Federal Police swooped in on Wanzeler and Costa in the early hours of Tuesday, December 16th. Wanzeler was apprehended on the way to the gym. Costa was arrested at his home in Vila […]
Carlos Wanzeler & Carlos Costa arrested in Brazil Read More »
Brazilian prosecutors allege Carlos Costa, co-founder of TelexFree Brazil, used investor funds to purchase ten apartments in Florida. Rather than purchase the properties in his own name, Costa is alleged to have laundered TelexFree investor funds through his daughter, Priscila. All ten apartments are located on the four floors of the condominium named “The Beverly
TelexFree funds used to purchase Florida apartments Read More »
Unbeknown to me (and I imagine a fair for of you), the Plaintiff’s Interim Executive Committee (PIEC) and TelexFree Trustee have been at loggerheads over investment flow. Following two rulings that sided with the Trustee on the matter, now a First Circuit appeal decision has also followed suit.At issue between the PIEC and Trustee is
Major roadblock for TelexFree victim distributions removed Read More »
A report by The Gazette has revealed how back in 2014, TelexFree funded a Paul McCartney concert in Espírito Santo, Brazil. According to The Gazette’s report, some 30,000 attended McCartney’s concert. The concert itself was part of McCartney’s 2014 “Out There” tour. The Brazilian leg of McCartney’s tour was being handled by producer Flavio Salles.
How TelexFree funded a Paul McCartney concert in Brazil Read More »
The TelexFree Trustee has warned against victims selling approved claims. The warning was reported by the Brazilian Times. I was unable to find an English equivalent or even the context of the Trustee’s warning. In any event, along with a consumer rights attorney, the Trustee warns some companies are contacting victims and offering to buy
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A Brazilian affiliate has secured a bankruptcy judgment against TelexFree. What does that mean? …I’m not sure. A TelexFree affiliate claims the company owes them $50,000. That prompted a lawsuit, which culminated in a bankruptcy order on Monday. According to the ruling, the company confirmed the amount due, said it was unable to pay the
Brazilian court orders TelexFree (Ympactus) into bankruptcy Read More »
On June 3rd a $778,455 final judgment was entered against Faith Sloan. Sloan’s judgment was part of the SEC’s case against TelexFree scammers, who collectively stole over $3 billion from their victims. As part of the judgment, Sloan is “permanently restrained and enjoined” from committing securities fraud. Trouble is that while her attorney was engaging
Faith Sloan already violating her $778K TelexFree Ponzi judgment Read More »
