BehindMLM: DOJ on TelexFree

DoJ on TelexFree: Fraud, dishonesty & gross mismanagement

telexfree-logoThe Unites States Trustee program is

a component of the Department of Justice responsible for overseeing the administration of bankruptcy cases and private trustees.

Under the party name “US Trustee”, the DoJ has now filed what is the first major opposition to TelexFree’s bankruptcy proceeding. The DoJ’s motion to appoint a “Chapter 11 trustee” addresses the elephant in the room that is as of yet untackled in TelexFree bankrupty proceeding: That being of course the serious allegations laid out against the company by the SEC and Massachusetts Securities Division.

Both agencies have filed complaints against TelexFree, alleging it to be a pyramid and Ponzi scheme respectively.

Supported by damning evidence against the company, here’s a breakdown of the DoJ’s latest filing.

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