BehindMLM: Homeland Security raids TelexFree???

 

Dept of Homeland Security raid TelexFree offices

Apr.17, 2014 in TelexFree 16 Comments
department-of-homeland-security-raid-telexfree-officetelexfree-logoOver the past twenty-four hours I’ve been seeing a lot of genuine concerns raised by TelexFree affiliates being answered with the proclamation that tommorow April the 17th, the company will be given permission to restart business operations.

Mostly pushed by Portuguese speaking TelexFree affiliates, social media related to TelexFree has been flooded with claims like this:

Santiago D Apostle: the motion for Chapter 11 bankruptcy is approved… and the company is given the chance to reorganize and restructure inspite of the SECs complaint filed against TelexFREE.

The root of the blatant misrepresentation of what was actually granted is an order granting TelexFree a “shortened time” to hear their “first day motions and applications” in the case. The hearing has been scheduled for April 17th at 1:30pm, with the order signed off on by Judge August B. Landis.

The problem?

All signs point to the Massachusetts Securities Division stopping the application dead in its tracks.

[Continue reading…]

BehindMLM: TelexFree Has More Problems…

Massachusetts charge TelexFree as “billion dollar Ponzi”

Apr.15, 2014 in TelexFree 140 Comments

sec-complaint-header-telexfree

telexfree-logoEver since the SEC investigation into TelexFree was officially confirmed, I’ve found myself repeatedly pointing out to disillusioned TelexFree affiliates that the running of a Ponzi scheme for nearly two years cannot be negated by cosmetic product changes.

Nor can it be erased by a “too little too late” compensation plan change.

Hell, not even a shutdown and filing for Chapter 11 bankruptcy can wash the stink of what Carlos Wanzeler, Carlos Costa and Jim Merril have spread over the MLM industry.

And now, having concluded their investigation into TelexFree – the Massachusetts Securities Division has finally played their hand and agreed. TelexFree is a “billion dollar Ponzi scheme”. [Continue reading…]