Trustee Appointed for TelexFREE, Class Action Lawsuits Filed

Boston, MA -- Stephen B. Darr, Senior Managing Director of Mesirow Financial Consulting in Boston, has been appointed the Chapter 11 trustee for TelexFREE. Darr will take over management of TelexFREE through the company's bankruptcy.

Meanwhile, three class-action lawsuits seeking in excess of $10 billion have been filed against TelexFREE on behalf of plaintiffs in North Carolina, Massachusetts, and Nevada.

The Securities and Exchange Commission and the Massachusetts Secretary of State have both charged TelexFREE with securities fraud. One of the company's co-owners, James Merrill, is being held in federal custody, while the other, Carlos Wanzeler, has fled to Brazil. Merrill is petitioning the court to allow home detention at his Massachusetts home under conditions including surrender of his and his wife's passports, GPS monitoring, and payment of a $900,000 personal recognizance bond. Prosecutors have said Merrill is a flight risk. Merrill's attorney pointed out that despite being aware of the government's criminal investigation, Merrill did not take the opportunity to flee to avoid prosecution, unlike his co-defendant.

 

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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