Brazilian prosecutors allege Carlos Costa, co-founder of TelexFree Brazil, used investor funds to buy ten flats in Florida.
Fairly than buy the properties in his personal identify, Costa is alleged to have laundered TelexFree investor funds by way of his daughter, Priscila.
All ten flats are positioned on the 4 flooring of the condominium named “The Beverly Condominium Affiliation Inc”.
Since on the primary flooring had been acquired flats 101, 102 and 103; on the second, 201 and 202.
On the third flooring, Priscila Costa purchased 4 properties (301, 320, 303 and 304) whereas on the fourth flooring she solely purchased the house quantity 402.
Federal Prosecutors in Espirito Santo (MPF) allege Carlos Costa laundered $730,000 by way of his daughter.
Three of the properties belong to Carlos Costa and his spouse, Jozelia Sangali (proper). The remainder are believed to be in Priscila’s identify.
In getting TelexFree investor funds out of Brazil, the Costas had been assisted by Carlos Wanzeler’s daughter, Lyvia.
Priscila Costa and her mom obtained cash deposits made by companions Carlos Costa and Nataniel Wanzeler, as reported within the criticism.
They, nonetheless, had been relying on Lyvia Wanzeler’s assist to get the cash that got here from Telexfree out of Brazil and find yourself in Costa’s daughter and ex-wife’s accounts in the US.
Lyvia was the individual accountable for the operation of unlawful consignments.
This all came about again in 2013, in the course of the peak of TelexFree’s fame.
Not one of the properties Carlos Costa bought had been declared to the Brazilian IRS or Central Financial institution.
MPF claims that the house purchases constitutes overseas forex evasion, i.e. cash laundering.
Of their lawsuit MPF try to clawback the Costa household’s ill-gotten property.