As per an agreed settlement, Carlos Costa and his spouse are set to give up eight condominiums to the TelexFree Trustee.
By accounts held in Priscilla Costa’s title, the Costas netted $542,298 from TelexFree victims.
That’s on high of no matter Carlos Costa (proper) managed to steal as head of Ympactus, TelexFree’s Brazilian operations.
Whereas the Costas keep there’s nothing mistaken with stealing over half 1,000,000 {dollars} by means of a Ponzi scheme, they’ve agreed handy over eight Pompano Seashore, Florida condos.
The premise of the settlement is Jim Merrill figuring out the condos as having been bought with funds tied to TelexFree.
Jim Merrill was a co-owner of TelexFree. He was sentenced to 6 years in jail in early 2017.
How a lot the condos are price isn’t referenced within the proposed settlement. A search of the handle nonetheless reveals an estimated $95,000 to $118,000 worth per rental.
Even on the decrease finish, the worth of the eight condos ought to greater than cowl the quantity Priscilla Costa stole from TelexFree victims.
If authorised, the proposed settlement will finish the US authorities’s curiosity in Priscilla Costa.
Carlos Costa is going through a number of prison costs in Brazil over his position in Ympactus. As we perceive these instances are nonetheless enjoying out.
Pending approval of the settlement between the TelexFree Trustee and Carlos and Priscilla Costa, keep tuned…
Replace twenty sixth March 2019 – The Trustee’s settlement with Carlos and Priscilla Costa was authorised on March twenty fifth.