Brazilian Court suspends TelexFree operations
When news broke back in February that TelexFree was under criminal investigation in Brazil, many TelexFree affiliates went into a panic with the company’s then recent attempt at US market penetration stalling.
Then, after the Ministry of Finance came out and publicly declared that TelexFree was “not sustainable” and “a Ponzi scheme”, court action escalated and, to the best of my knowledge, somewhere along the line an order was passed prohibiting the Ministry of Finance from issuing any further statements on the case (which remained in progress), and to take down information they had already published.
As is common with Ponzi schemes, affiliates with the most to lose in the company and fearful of the impact the Ministry of Finance’s statements would have on their investor recruitment efforts, news of the above order somehow got turned into this:
It’s official! The investigation on TelexFree has been absolved of what Behind MLM has researched and posted.
Comments like the above were widely circulated by TelexFree affiliates in a campaign of misinformation, aimed at reassuring existing and prospective investors that TelexFree’s Brazilian regulatory problems were over.
Cue breaking news of continued Brazilian regulatory action against TelexFree in 3… 2… 1…