State SEC Charges TelexFREE
On Tuesday, April 15th, Massachusetts Secretary of State William F. Galvin charged phone service marketer TelexFree with running a billion-dollar pyramid scheme that primarily targets Brazilian immigrants.
The charges claim that TelexFREE Inc has been offering unregistered securities in Massachusetts through its multilevel marketing efforts in the state, taking in over $90 million dollars in the state alone.
According to the TelexFREE website, the company filed for federal bankruptcy protection in Nevada on Monday.
Last summer, the company was ordered shut down in Brazil after a judge ruled it a pyramid scheme.
More TelexFree News and Articles
- TelexFree President Sentenced
- Agents Seize Approximately 20 Million in Scheme to Launder TelexFree Funds
- TelexFree President Pleads Guilty
- TelexFree Exec Requests Suppression of Evidence
- Claims Against TelexFree May be Filed Starting April 1
- TelexFree Rep Jailed for Contempt
- Bankruptcy Judge Finds TelexFree Operated a Fraudulent Scheme
- Lawyers in TelexFree Case Seek to Delay Trial
- First Group of Claimants Receive TelexFree Settlement Checks
- Class-Action Lawsuit Filed Against TelexFree
- Trustee in TelexFree Case Details Alleged Fraud
- TelexFree Victims May Have a Long Wait to Settle Claims
- Warning Issued Against iFreex, Possible Offshoot of TelexFree
- Group Represents TelexFREE Victims
- TelexFree Accountant Denies Wrongdoing
- Feds Seek Assets in TelexFree Case
- TelexFree Owners Indicted in Federal Court
- U.S. Challenges Merrills Bid for Access to Funds in TelexFree Case
- TelexFree President Seeks Release of Frozen Assets
- Judge Allows Bail for TelexFree Co-Owner
- Trustee Appointed for TelexFREE, Class Action Lawsuits Filed
- TelexFree Co-Owner Denied Bail
- Wife of TelexFree Co-Owner Arrested While Trying to Flee Country
- TelexFree Owner Arrested
- TelexFree Owner Appears to Have Left the US
- TelexFREE Sets Up In Canada
- SEC Urges Federal Judge to Move TelexFREE Case to MA
- TelexFree Issues Statement
- 38M in Checks Recovered as CFO Flees TelexFree
- TelexFree Headquarters Raided by Feds
- TelexFree Files for Bankruptcy
- State SEC Charges TelexFREE
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