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Power point de telexfree bankruptcy

power point de telexfree bankruptcy

The Trustee contends that TelexFree collapsed because it was a Ponzi/pyramid scheme. 2. The Trustee claims that thousands of individuals involved with TelexFree received, in aggregate, more money from their involvement—either as commissions or bonuses—than that person paid to TelexFree in connection with the purchase of VoIP services. General Information: On March 10, , the Securities and Exchange Commission (the “SEC”) filed a Complaint in the U.S. District Court for the District of Oregon against Aequitas Management, LLC, Aequitas Holdings, LLC, Aequitas Commercial Finance, LLC, Aequitas Capital Management, Inc., and Aequitas Investment Management, LLC (collectively “Receivership Defendants”), alleging. Apr 14,  · Filed on the 13th of April , TelexFree’s Chapter 11 bankruptcy application is for TelexFree Inc., TelexFree LLC and TelexFree Financial Inc. Checked on the application is an estimation of between $0-$50, owed in liabilities, which I can only describe as a gross underestimation. power point de telexfree bankruptcy

Just like he did. Once an account was established, each participant was asked to sell 50 phone service plans to others. They also were paid commissions for persuading people to open their own accounts. To keep making payouts, TelexFree needed to persuade an ever-increasing number of people to bring in more members, prosecutors say. Eventually, the model became unsustainable.

Merrill, and their company, TelexFree. TelexFree did, in fact, pay off for many early participants. I leave the house on Monday and am going all around the country to meetings. Rodrigo and his colleagues embody the evangelical-like grip the company had on people who were making money on TelexFree. TelexFree cultivated the appearance of an established company. It had offices at the top of a Vitoria office tower and, for a time, a marketing deal with Rio soccer club.

It also produced a constant flow of sales videos that were posted on YouTube by Wanzeler, Merrill and their Brazilian business partner, Carlos Costa. The backlash reflects a well of frustration that runs deep in Brazil.

Beyond the construction cranes piercing the skyline are infamously poor communities, or favelas, often tucked into hillsides and controlled by drug traffickers.

Wanzeler had seen this world, and he sought to escape it. But if the allegations against him are true, somewhere on his march to success Wanzeler began preying on the people he set out to help. He and Merrill had been toiling away at various small ventures, selling phone-related services since , through their company Common Cents Communications Inc. In , Wanzeler met Costa, who would become the link to TelexFree.

At the time, Wanzeler was selling adapters to link traditional telephone lines with a digital network. He ran the business from the United States but advertised and sold the devices in Brazil. Costa was his top sales agent, according to court filings. In early , Costa suggested they start advertising online. In a YouTube video, Wanzeler assured investors and customers all was well. And up until then, all had been well — for Wanzeler, Merrill, and their top associates.

On a balmy late May evening, Coswosk talked about her TelexFree experience in her living room adjacent to a barred-in porch.

She said she had known a few people who had profited from TelexFree but was skeptical when friends tried to get her to invest last year. In February, her hair stylist tried to persuade her TelexFree was still a good deal, even though the company had already been shuttered in Brazil. Again, Coswosk resisted, but she was curious. He told her the company was still flourishing in the United States.

Coswosk was told to approve several Internet ads per week to get her payout. Disclaimer: Justia Annotations is a forum for attorneys to summarize, comment on, and analyze case law published on our site.

Justia makes no guarantees or warranties that the annotations are accurate or reflect the current state of law, and no annotation is intended to be, nor should it be construed as, legal advice.

Contacting Justia or any attorney through this site, via web form, email, or otherwise, does not create an attorney-client relationship. Enter your email. Darr v. Plaintiffs' Interim Executive Committee, No. None of these claims, however, has scientific proof established by peer-reviewed research and human clinical trials , as discussed below. Very early laboratory studies suggest it may have promise as a topical treatment for acne. Early small laboratory and animal studies suggest that further research should be done to determine whether it can help to prevent cancer in humans.

Pericarp xanthones remain under preliminary research to define their potential properties, which may include antioxidant [40] and chemopreventive effects. In , XanGo scientific adviser, David Morton, participated in a four-part debate on the asserted claims of mangosteen health benefits.

Under FDA drug labeling rules, Xango, as manufacturer, is responsible for satisfying scientific criteria to make health claims on its product labels and all marketing materials. As of September , the case remained open. In February , the U. Berkeley Wellness Newsletter, sponsored by the University of California at Berkeley , said that "Mangosteen marketers make farfetched and unsubstantiated claims for their products. Any reported benefits in humans have been anecdotal.

No one even knows if the processed fruit juice and capsules retain the potentially beneficial compounds. Ralph Moss , an alternative cancer treatment advocate, [51] has said of mangosteen juice:. In my opinion, what we have here is simply an overpriced fruit drink. Fruit drinks are often healthful beverages. A medical case report described a patient with severe acidosis possibly attributable to a year of daily use to lose weight, dose not described of mangosteen juice brand not described infused with xanthonoids , [53] as occurs in the manufacture of XanGo juice.

The authors proposed that chronic exposure to alpha- mangostin , a xanthone, could be toxic to mitochondrial function, [54] leading to impairment of cellular respiration and production of lactic acidosis. In Italy 's antitrust and consumer protection authority, the AGCM , suspended the activities of Xango in response to over-broad health claims, as well as possible violations of pyramid scheme laws.

A joint statement by TNI and Xango said that they had "agreed to resolve their disputes and the litigation between them and their founders" but the particulars of the settlement were not disclosed. In The State of Utah's Supreme Court gave the green light to a XanGo investor to proceed with a suit that alleges corporate looting and mismanagement of millions of dollars by the Lehi supplements company's founders for their personal expenses including luxury cars and performance-enhancing medical treatments.

The Utah Supreme Court overturned a 4th District Court ruling that dismissed a lawsuit filed in by Angel Investors LLC alleging XanGo's founders took millions of dollars in personal loans from the company and paid themselves excessive salaries while wasting corporate assets. In XanGo Founder Bryan Davis filed a lawsuit accusing his partners of spying, threatening employees, falsifying distributor positions to siphon off funds, defrauding on XanGo taxes and their personal taxes, falsifying records, changing credit card statements, charging as business expenses to purchase grand pianos, vacations, home renovations, landscaping, electronics, expensive bicycles, scooters, and for CEO Aaron Garrity, an open expense account for one mistress.

According to the lawsuit, Garrity embezzled hundreds of thousands of dollars in assets from the company, writing off clothing, medical enhancements, jewelry, event tickets, bicycles, electronics and chartered planes and vacations as business expenses.

The lawsuit further reports founders are alleged to have used XanGo employment and forced qualified distributor positions to siphon XanGo assets to family members and friends.

Davis alleges the founders conspired to give themselves illicit distributions through a tax fraud scheme and that the founders also formed various competing companies with XanGo assets. He also requested that the XanGo Security Department obtain non-traceable wireless accounts for him for the purpose of online corporate intelligence gathering, dissemination of information and posting defamatory comments about competitors, distributors, employees and others.

Benevento said several months ago, the XanGo board offered Davis a separation agreement due to his ongoing failure to fulfill his responsibilities and that Davis has failed to show up for work yet still expects a regular paycheck.

In XanGo had issues concerning taxes.

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