TelexFree: New Class Action, Asking for $5 Billion in Relief and Restitution

Yes, you heard me right, $5,000,000,000 in Relief is being asked in this newly filed Class action suit, brought in the federal District of Eastern North Carolina on June 2nd.  This suit was filed by Ms. Ihouma Igboanugo, Esq, admitted to the Bar on October 4, 2013.

Also of note are the number of Plaintiffs who share the same familial name as the attorney, along with other individuals with family names such as Ndukwe, Iyesi, Okoafor, Nwobodo, Irechukwu, and Eleckwachi, to name a few; there are around 14 more listed.

One of the many sections in this 64 page Complaint is this:

TELEXFREE’S LAWYERS AIDED, ABETTED AND PLAYED AN INTEGRAL PART IN TELEXFREE’S UNLAWFUL, UNFAIR AND DECEPTIVE PYRAMID PONZI SCHEME

Defendants Gerald P. Nehra and Richard W. Waak, along with the entities Law Offices of Nehra and Waak, Gerald P. Nehra, Attorney at Law, PLLC, and Richard W. Waak, Attorney at Law, PLLC (hereafter sometimes collectively referred to as “Attorney Defendants”) are self-proclaimed multi-level marketing (“MLM”) specialist attorneys. During the course of TelexFree’s fraudulent scheme, the above-named Attorney Defendants acted as legal counsel to TelexFree. Attorney Nehra had previously acted as counsel to other multi-level marketing firms,
which were forced, closed by federal and/or state authorities due to fraudulent pyramid and
Ponzi schemes, including ZeekRewards and AdSurfDaily.

Yep, sounds right to me. I have uploaded this Complaint into the Files website; it’s an interesting read.

4 comments on “TelexFree: New Class Action, Asking for $5 Billion in Relief and Restitution

  1. HI again, I didn’t find were he say 5 bilion. I just think it is “only” 5 milion. 20. The District Court has original jurisdiction pursuant to 28 U.S.C. § 1332(d)(2). In the aggregate, Plaintiffs’ claims and the claims of the other members of the Class exceed $5,000,000.00 exclusive of interest and costs, and there are numerous class members who are citizens of states other than TelexFree, Inc’s state of citizenship, which is Massachusetts.

    I even don’t understand this part exactly.

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