Feds Seek Assets in TelexFree Case

August 2, 2014 -- Criminal and bankruptcy authorities are going after nearly $97 million in assets in order to repay people claiming to be victims of the alleged pyramid scheme or to fund law enforcement activities. The assets include cash, checks, bank accounts, high-end automobiles, boats and real property in Massachusetts and Florida ranging from modest rental homes to a mansion.

The TelexFree case is moving forward in both criminal and bankruptcy court, raising the question of who would handle repayment of victims should prosecutors win their case against co-founders James Merrill and Carlos Wanzeler. The trustee in the bankruptcy case said he and the U.S. Attorney's office are cooperating, and that any assets attained by forteiture will be made available to victims.

 

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

 

TelexFree Profile

Create a Free TelexFree Rep Listing