TelexFree: Steven Labriola Asks Court For $5K ?

We have this Assented To motion filed today, as follows:

Defendant Steven M. Labriola (“Labriola”), with the assent of plaintiff Securities and Exchange Commission (“the Commission”) and hereby moves this Court to modify the Consent Order entered by this Court on May 9, 2014 in the manner set forth in the proposed Order attached hereto as Exhibit A. The modification is necessary to permit Mr. Labriola (a) to withdraw $5,000 to cover his living expenses and child support obligations for the coming month and (b) to establish a new bank account that is not subject to the Consent Order into which he will deposit earnings from his new job, which is completely unrelated to the operations of TelexFree, Inc. or TelexFree, LLC.

The motion is followed with the usual “Proposed Order”, but since the Court has been similarly disinclined to do “Carve-outs” of money for other defendants (like Faith Sloan), Labriola may not get his money.

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