Monday, July 1, 2013

Police investigate TelexFree for money laundering

TelexFree expected to file a formal appeal against the injunction that has effectively shut down the business in Brazil, news broke today that police in Acre are now investigating the company for possible money laundering activity.
The Acre division of the  Specialized Police in Combating Organized Crime Taskforce (known as DECCO), announced yesterday that they had
opened an inquiry into whether the management of Telexfree committed crimes against the economy and money laundering, among other crimes.
The inquiry investigation marks the second criminal investigation into TelexFree that is publicly known. The first being initiated by the Brazilian Bureau of Consumer Protection, which resulted in the detection of ‘evidence of crimes‘.
The opening of the police investigation, made at the request of the Special Action Group for Combating Organized Crime (GAECO) of MP-AC means the entry of the criminal sphere organ in these investigations.
Also revealed in the iG news report was the conclusion of the previous criminal investigation into the company. After the Bureau of Consumer Protection forwarded their findings to the Ministry of Justice and Finance, the Bureau of Defrauding opened up a case which resulted in the request of arrest warrants for certain “members” of TelexFree.
For reasons not clarified in the iG report, these arrest warrants were denied by a judge.
Meanwhile, rather than defend the business model (which has failed twice now in Acre’s courts), TelexFree appear to be getting a bit more creative with their defense.
Quoted in the iG article, TelexFree’s lawyer Horst Fuchs attempts to confuse MLM with Ponzi schemes, declaring that ‘if the state wants condemn [ multilevel marketing activity ], they need to establish in law what can and what can not be done‘.
What can and can’t be done? Oh I dunno Fuchs… how about be we start with the obvious – thou shalt not run Ponzi schemes?
Affiliates of TelexFree in Brazil also appear to be at a loss to defend the Ponzi scheme business model, calling on their fellow affiliates to instead write letters to the Acre civil court, declaring their “satisfaction with the company” as a reason to reverse the injunction.
Underscoring all of this however is the core principle that a Ponzi scheme cannot pay out more than it brings in. With recruitment of new investors still occurring, affiliates in Brazil appear to be of the belief that the company was not in financial trouble.
Buried deep within the financial paperwork belonging to the company however would be a balance sheet revealing how much money was put in and, more importantly how much is owed to every TelexFree affiliate.
TelexFree take in $299 from affiliates and promise a weekly “guaranteed” $20 ROI. Simple math dictates a flawed Ponzi business model.

Meanwhile TelexFree’s affiliates in the US seem content to ignore what is going on in Brazil. It was recently announced that the company would be holding a “TelexFree Super Weekend” over at NewPort Beach in Southern California on July 26th and 27th.
Join “The Haves and The Have Yachts” with a 100 Percent TelexFREE Smile on Your Face and a Shine on Your Dancing Shoes.
Dinner, Dancing, DJ, Monopoly Money Casino Tables, Cash Cocktail Bars – This Is A Harbor Cruise That YOU Don’t Want To Miss!
Evidently the irony of having prospective and existing affiliate investors play on Monopoly money casino tables is lost on the event organizers.
Items on the Super Weekend agenda include an
investor recruitment drive business presentation, business training and leadership cruise.
Organizers are charging attendees $40 to attend and an additional $100 if attendees wish to participate in the “harbor cruise”.
With TelexFree’s business operations unlikely to continue in the face of multiple criminal investigations and a criminal case expected to be filed by the Acre Public Prosecutor’s Office by the end of next month, US-based affiliates are most likely all too painfully aware that relying on recruitment drives in Brazil (TelexFree’s largest affiliate investor pool), is no longer a valid TelexFree investment strategy.
So who do they now want to pay for their promised Monopoly money returns…?
Grab a mirror and open up your wallets folks.

10 comments:

  1. I am sorry... but i had to comment on your thread.. it looks like someone (writer of this blog) and Brazil authorities do not understand TelexfREE business at all, perhaps because nobody has explained to you or them.

    I live in the US and I am Hispanic.. Lived in Brazil before and know their culture and the Brazilian way to do things.. I am also a TelexFREE promoter and I would like to tell you a little bit more about it...

    TelexFREE does not take in $299 from affiliates and promise a weekly “guaranteed” $20 ROI" like you stated on your article.

    1 -TelexFREE is a MLM company where whoever wants to sign in as a Partner pays US$50.00 to resale VoIP accounts and makes 10% on each sale... i guarantee that I've personally made hundreds of dollars by selling this amazing product to friends and neighbors and they can make international phone calls to land-line and "cell phones" in any country around the world where 43 of them are unlimited for 1 month for a very low price... most of US cell phone companies does not offer calls to cell phones on their "unlimited plan"

    IMPORTANT FACT: No one earns a commission or bonus for bringing in a new promoter who register as a Partner only

    2- TelexfREE also offers to their affiliates or Partners the possibility of buying an ADCentral package where you will be acquiring an stock with 10 Voip phone plans (wholesale) for $289.00 (not 299.00 like you said) which also includes an ADCentral in your Back Office and thus you will be publishing your own TelexFREE ads (which means whoever buys their product thru your ads) you will be making 90% on the first time the customer purchases the VoIP plan and 5% after that month to month if you still have in stock and the customers wants to keep using it, since there's no contract

    3- TelexfREE also offers to their affiliates or Partners the possibility of buying an ADCentral Family package where you will be acquiring an stock with 50 Voip phone plans (wholesale) for $1375.00 which also includes an ADCentral in your Back Office and thus you will be publishing your own TelexFREE ads (which means whoever buys their product thru your ads) you will be making 90% on the first time the customer purchases the VoIP plan and 5% after that month to month if you still have in stock and the customers wants to keep using it, since there's no contract

    And there's more... you wanna know more about this wonderful opportunity

    Send me an email: telexfreecentralfl@gmail.com

    We are located in Central Florida


    ReplyDelete
    Replies
    1. Telexfree doesn't pay anybody a few weeks ago.
      Do you receive a payment recently?
      How?
      GPG doesn't work, ewallet doesn't work, "transfer request" doesn't work.
      How do you collect?
      Selling your dollars in your Back Office?
      How much time do you think it will last that way?
      Waiting for your answers.

      Delete
  2. Replies
    1. Not anymore!!!!
      Telexfree doesn't pay anybody a few weeks ago.
      Do you receive a payment recently?
      How?
      GPG doesn't work, ewallet doesn't work, "transfer request" doesn't work.
      How do you collect?
      Selling your dollars in your Back Office?
      How much time do you think it will last that way?
      Waiting for your answers.

      Delete
    2. Not anymore!!!!
      Telexfree doesn't pay anybody a few weeks ago.
      Do you receive a payment recently?
      How?
      GPG doesn't work, ewallet doesn't work, "transfer request" doesn't work.
      How do you collect?
      Selling your dollars in your Back Office?
      How much time do you think it will last that way?
      Waiting for your answers.

      Delete
  3. I joined telexfree 2 weeks ago and still haven’t gotten paid!!! I paid $1400. I’m also blogging about my entire telexfree experience. Check it out. www.mytelexfreejourney.com. Thanks!

    ReplyDelete
    Replies
    1. This comment has been removed by the author.

      Delete
    2. I am wasting my time in this blog. next time make a drama movie about how you get the first dollar in other company. make videos in youtube and make me cry

      Delete
    3. Telexfree is full of shit and i am opening a law suit against them....anyone who wants to join me email me at cindygallaga@yahoo.com.....this is not going to stay unresolved for so many people!!!!

      Delete
    4. EXACTLY YOU ARE PAYING RIGHT NOW $44.99 A MONTH FOR A VERY BAD INTERNATIONAL PHONE SERVICE, I PUT $380.00, I RECOVER $300.00, RIGHT NOW TELEXFREE IS GIVING YOU CREDIT. COMPANY CREDITS, JUST NUMBERS, I AM SURE TELEXFREE IS A PYRAMID

      Delete