TelexFree want MacMillan retained as bankruptcy mole. May, in TelexFree. Two days ago saw the latest TelexFree bankruptcy hearing take place, with the outcome being the almost certainty that TelexFree’s management and owners would lose control of the company. In their place a Chapter 11 Trustee would be appointed, which would effectively put TelexFree in the control of US regulators . Mar 16, · Para entra na telexfree use o link abaixo: karacto.xyzree. Skip navigation Sign in. Anunciando pelo karacto.xyz na telexfree em menos de 3 . Feb 14, · Not surprisingly, a judge rejected TelexFree’s bankruptcy application, as it was clear the company was just trying to wriggle free funds it had been blocked from. Practically speaking, other than using a different name, there’s no difference between Ympactus and TelexFree.
Clawbacks of net winnings, if the scheme is shut down by a court and handled by a Receiver. You should probably take a quick look at Zeek Rewards which was shut down in August , and has been handled by a court since then. Ponzi schemes will often involve tax frauds, money laundering and other legal risks.
The fraudulent parts of TelexFree are the investments in AdCentrals a Ponzi scheme component , and the recruitment system a pyramid scheme component.
The sale of VOIP subscriptions would normally have been legitimate in itself. People CAN legally make money on that part in theory. John : I have a friend that sadly had her family invest in the company native brazil but now a citizen in the states. A plain and factual description like that is actually the best way to see it. It gives a simplified description of the legal aspects. They will typically target specific groups of people, e. People will get attracted to the schemes because of the prospected high ROI, and because many of the schemes will manage to create an illusion of being legitimate work from home opportunities.
People will willingly mislead themselves when they WANT to believe something. Ken am enlightened now I know what telexfree is all about and I can now smell a pyramid from afar. Some of the people who pretended no fraud was occurring at Zeek Rewards went into the business of placing ads for Zeek Rewards members, for instance.
This cottage fraud continued with TelexFree: Some of the people who are pretending that no fraud is occurring there now are in the business of placing ads for TelexFree members. What is actually shows is that HYIP schemes often include multiple layers of fraud. There may be one or more follow-up layers.
If you are, look me up on Facebook! Do a search and look for the pic of the white guy with the hot looking black chick! Second, the U. You can read a view from a legal and regulatory compliance perspective at telexfreereport. Anyone with any familiarity with U. If you would like a fairly easy to understand primer on securities laws, and how they would be applied against TelexFree International, MLM law firm Grimes and Reese has an excellent overview at Source: mlmlaw.
The proof is in applying the legal standards to the business model and using common sense! In addition, as noted on my review, there are also other ways in which a program can be determined to be an illegal pyramid scheme, i.
They are all over the Internet, i. Furthermore, Brazil and the U. The agreement also provides for the sharing of information and evidence related to enforcement and for regular consultations between the parties, which includes the sharing of information of investigations, etc.
Due to the allegations of fraud and money laundering being investigated in Brazil in relationship to the TelexFree case, anyone with an ounce of common sense would be able to reasonably conclude that Brazilian regulators and law enforcement would be in touch with their U.
Most importantly, Brazil could request a U. Marshals Service. So, would we qualify as people you would listen to? You can learn more at thompsonburton. Hope the above proves useful to you-smart people will listen. Hey Ken thanx for the great piece you put together there..
Did Telex Free actually become bankrupt in Brazil? What does everyone think would happen if they filed in USA too? The company was shutdown last June via injunction, and remains under investigation with a civil case against it currently making its way through the courts. Correct me if I am wrong but it was Ympactus that sought and was denied bankruptcy protection in Brazil, not Telexfree…. You are correct. When judge in the case noted Ympactus was terminating a contract with Telexfree, whose owners are basically the same people, he denied the bankruptcy protection.
Carlos : Question:. Rumors are flying high in America that Telex Free is filing bankruptcy soon to eliminate all of the payments to its distributors. How does such a cash rich company get away with this?
Name required. Email will not be published required. Website not required. TelexFree lose 2nd bankruptcy case, Costa rages Feb. Same owners, same business, same AdCentral driven Ponzi scheme. The claims, published on Facebook back in December of last year, alleged that a prosecutor involved in the TelexFree pyramid-scheme probe had been murdered.
Sounds good to me…. Chang Q. What do you guys think? And guess where are they ALL going soon? On a cruise. Listen Guys I read your comets and K. Chang updates I just have few questions. Every time I read the news it is never positive. Alex Why Behind MLM blog site only reports negative news about every single company, its always bad bad bad news? Please report the truth.
Nothing but. Even the Black Death ended. If the analysis meets with your approval, feel free to use it or refer to it… Ken. After the first month, the invoice can remain unpaid in the back office. I believe in taking care of my brother and sister no matter where he or she is. I have found a couple of websites links disabled. There should be an index to the different sections that allow people to jump ahead.
Chang: First rule to remember: Why should people listen to you? None of us were involved with Zeek Rewards, either. Your point being?? I dont take advice from brokr people or none believers.. Or will thinking such thoughts make your head hurt? How about judges? Please comment. You actually took some of your precious time to read the blog entry and comments and then started ranting saying miguel : I dont take advice from brokr people or none believers..
In some cases, the bankruptcy court will appoint a trustee to take over operations from the debtor if it discoveries sufficient cause. While some debtor ordinarily continues in business after it files Chapter 11, it loses control over major decisions. The bankruptcy court takes over. Including other things, the bankruptcy court must approve:. Ordinarily, the debtor has the exclusive right for four months after it files Chapter 11 to propose a reorganization plan.
The court also can shorten the exclusivity period depending on the circumstances. A Chapter 11 plan allows a debtor to reorganize, or in other words, restructure, its financial affairs. A Chapter 11 plan is, in effect, a contract between the debtor and its creditors as to how it will operate and pay its obligations in the future. Facsimile and other electronic delivery methods are not acceptable. You must file an originally executed proof of claim. If you would like a copy of your claim returned to you as proof of receipt, please enclose an additional copy and a self-addressed postage-paid envelope.
If the information furnished establishes a reasonable belief that a criminal violation has occurred, the matter will be referred to the United States Attorney.
If the United States Attorney deems the matter to hold prosecutorial merit, it will be referred to the appropriate law enforcement agency for investigation. A clearly written statement containing copies of any available documentation will expedite this process. Submit the following information:. Most investors in Bernie Madoff's classic Ponzi scheme originally expected they had lost it all.
File your Proof of Claim as soon as you can and write a complaint to the U. Trustee as I explained about. And yes!! She is their wife! I know all the family. Did you know that Carlos Costa is adopted? When he was 5 years, your mother died.
We know a lot of small thing about this family of thieves. I am outside the US but so are some of the people in the credits claim. It is shame that people that are poor are stuck holding the bag. They thought they could make money without working.
Unfortunately life does not work that way. Did you knot this lol.. Bye the way bankruptcy means no will be paid even if the courts allow the Chapter eleven. The funny thing is this does not really affect many americans. It is the members in brazil which are losing most of the money. The brazilians continued to sell this junk through the U.
S company even after brazil shut it down in brazil. I just google the name, and because I found this, I easily get the complete name. If you want, I can send the facebook of all the family! They are living a good lives, and now I can see why.
The next step will be this week Government will step in and freeze all their assets including the people at the top. My guess their is no cash left in this country so it will probably be too little to late. That Telexfre paid out on the old contracts to a select few while denying payment to all others pretty much proves that point. The principals are not listed as debtors cause they were employees and would have taken their money as salary and commissions.
Many people invested or worked under this scheme because they were unemployed or on financial debt. SOL : Government will step in and freeze all their assets including the people at the top. Maybe not. We are not at that point yet. How fast that happens really depends on the SEC or other govt agency Somebody has to allege, and perhaps even prove that the company was a Ponzi, otherwise Telexfree can operate under 11 indefinitely.
I suspect anyone filing for credit losses will be ignored. No judgement because company can change payout anytime they want. You invested in company, company goes bankrupt you lose your investment. Once the bankruptcy is approved you can file a claim along with the 1 million other investors. Then the court and Telexfree will decide how much they can pay. My guess their is no money and if you are from a different country it will be harder to collect any money that may be left.
So… Lets do a good research about this people!!! To report suspected bankruptcy fraud, please prepare a written summary that contains the following information. Please include all supporting documentation. The likelihood of further investigation and possible criminal prosecution is increased for those matters where supporting documentation and specific factual information are provided. Any information you provide is voluntary and its maintenance by the United States Trustee Program is authorized by 28 U.
You can send this information via email to: USTP. Fraud usdoj. Executive Office for U. Matters may also be referred directly to the local office of the United States Trustee. Complete listing of office addresses and telephone numbers. Please be advised that it is U. Department of Justice policy that criminal investigations may not be disclosed.
Therefore, the USTP will neither confirm nor deny whether a matter may have been referred or whether it may or may not be under investigation. This means that you will only be contacted if it is necessary to obtain further information; otherwise, the USTP will not respond to your hotline submission. Other disclosures may be made for routine purposes.
Trustee Program Case Referral System. Chapter 11 is normally a good faith effort to reorganize and move the business forward without having the current debt hindering the efforts. The reason they would freeze assets is to make sure any money that is left does not disappear into the telexfree blackhole. Thirteen declarations were absent from the initial filing:. SOL : Usually bankruptcy like this may pay 10 cents on the dollar if they have money. It looks like this may be a potentially expensive and complicated one to administrate.
The assets of a US company are frozen in Brazil pending trial etc etc. I am a top leader in lucrazon but changes occurred and I am revisiting my decision. I am going to become a top performer in Changes Worldwide. I am familiar with most deals out there. No more rev shares. I have enough in my portfolio. Absolutely no traditional mlm lotions and potions. No hong kong companies. No brazilian companies. If someone was so much money to receive, he has so much money to spend with telex, right?
Many thanks! I will be reading the info. If I had the time I would go through international commercial law to check the chances of filing a lawsuit. Surely if people got together they would be able to claim for credits and damages. SOL : The reason they would freeze assets is to make sure any money that is left does not disappear into the telexfree blackhole.
I understand the reason, but someone has to motion and show cause why a freeze is appropriate. Nobody has done that. This was my favorite post today. The reasons for this is that the skill set desired for interim CEOs is generally unique, as they are often required to manage a crisis situation, as opposed to the day-to-day operations of the company. T Santos : Surely if people got together they would be able to claim for credits and damages.
Generally the estate reserves causes of action to itself. You will never get a shot at the perps, or if by some chance you do, you will just be acting as a collection agent for the estate. You will probably have to wait a few years to find out. He does not look good!! Why is the Bankruptcy filing in Nevada if the company is located in MA? Why would anyone take over as CEO of the company at this horrible juncture?
That just has to be the toughest job in the world. Or did the CEO get suckered into joining just like all the affiliates? Did you know that the ad generating tool has a tab that allows you to donate money? Donate to whom? Dorothy : Time to fire the lawyers already? The attorneys may have filed this ASAP for a reason. My guess is that the reason is to establish a record and hope that the imposition of an automatic stay relates back to the date of initial filing.
Just a guess. These firms are not inept. How can we get united to make a claim. So are TelexFree affiliates besieging their offices again? Bankruptcy Code. Carlos Costa has already released a video saying that everything is ok. Remember the Island of Madeira in Portugal?
The flag was waved by Carlos Costa not so long ago ib on of his videos. I know how Portuguese people think. This will not end with just a few words. It will get ugly for these promoters. Logic does not apply when you are angry because you trusted someones advice and lost all. I am a telexfree promotor, never really cared to recruit anyone because I was skeptical from the beginning. Going in I knew there was a chance they could be shut down but this is life and you take chances.
Never invest money that will hurt you financially if you lose it, the the biggest No No is borrowing money for investments, which is what some people did. The next step is confirmation. The debtor will propose a plan of reorganization to the creditors. The creditors then vote on the plan.
In order for a plan to be confirmed, the judge must approve it and every impaired class of creditors must approve the plan. An impaired class is a class of creditors that will receive less than what they are owed usually most creditors are impaired. Steve Labriola probably stayed out of the office today to take advantage of a personal day. Wonder if that guy is going to pay up, eh? You are miles and miles from this happening.
There may never be a plan of reorganization if the court is convinced the company should be liquidated for the benefit of the creditors. IF there is a Proposed Plan, voting is open for several months, and then Confirmation may take place or not.
Just a bump in the road. We have an exciting app coming up and many more awsome products. For instance a lovely coffee scented proctologist tested gel???? The forum realscam.
The right type of report can give them exactly that, but controlled by others than themselves. Did you guys check the address provided for Renato Alves, one of Brazil top promoters, listed at number 4? Renato Alves claims more than thousand dollars from TelexFree. A pretty rich guy, right? Who are you going to call? Maybe you should… Pool together and pay one attorney in the US, and have him file a formal bankruptcy court complaint against TelexFree claiming this is a fraudulent bankruptcy.
Macmillan doing? He was in telecom Excel Communications so TelexFree want to borrow his name a bit. Chang : for any one not in the US Brazil, madeira, etc. One of the functions of Federal Court of which BK courts are part is that they can adjudicate foreign claims. Chang : Maybe you should… Pool together and pay one attorney in the US, and have him file a formal bankruptcy court complaint against TelexFree claiming this is a fraudulent bankruptcy.
I will usually first look for methods people can use directly without professional assistance. You are confused. Hell Telexfree has not even filed a single schedule with the court yet. How then can they have committed Bankruptcy Fraud? They are now more happy than ever, did your read how they announce all this as a good thing for Telexfree?
Silly people. The chapter 11 proceeding is just beginning. They didnt file all supporting material. Until that is done The Chapter 11 filing will not be approved. Telexfree Management is just buying time until they have to become accountable for their actions. If their is any real money some official agency needs to step and freeze the money before it vanishes. Slightly off topic. Where are Ponzi Jumpers are going next since this play is in its forth act?
This is a brilliant delaying and confusing move. Since two countries are involved, it makes transfer money from one country to another to pay victims really difficult. Each country will want to hoard money to pay its own victims. I predict this is going to be one of the most difficult investigation in Ponzi history up to date.
You are suggesting people report bankruptcy fraud. There is no evidence of that. No schedules have been filed, no false testimony given, no documents falsified…. A foreign national can file a proof of claim in US Bankruptcy Court and if it is approved may receive distributions from the estate just like any other creditor.
It need cost no more than a stamp to do this. Practically speaking this is all that can or needs to be done. Boris : Slightly off topic.