After failing to convince Brazilian authorities that it is not a scam, Twenty two Telexfree affiliates have been formally indicted for running a Ponzi scheme.
Based on the records of the Brazilian authorities, Telexfree and its associates have been accused of stealing over USD1.6 billion from their victims across Brazil.
Telexfree has also been accused of causing losses of up to USD5 billion.
Telexfree is claim it is a telecom provider who renders voice over Internet Protocol, VoIP services but promotes pseudo investment packages for its customers to invest from USD299 to get RoI of up to USD20 per week ROI for a period of 52 weeks.
Those indicted in the alleged scam have also been accused of tax evasions, selling unregistered financial securities as well as illegal sale of financial assets.
See below names of all indicted in the alleged scam as reported by BehindMLM:
- Carlos Wanzeler (co-owner of TelexFree in Brazil, currently a fugitive and wanted by US authorities)
- Lyvia Mara Campista Wanzeler (Carlos Wanzeler’s daughter)
- Febe Vanzeler de Almeida e Souza (Carlos Wanzeler’s sister)
- Marisa Machado Wanzeler Salgado (Carlos Wanzeler’s sister)
- Carlos Costa (co-owner of TelexFree in Brazil)
- Jozelia Miriam Sangali (Carlos Costa’s wife)
- Priscila Freitas Costa (Carlos Costa’s daughter)
- Esdras Maria Freitas Costa (Priscila Costa’s mother)
- Top TelexFree affiliates indicted include:
- Pele Reis
- Nathana Santos Reis (daughter of Pele Reis)
- Thiessa Santos Reis (daughter of Pele Reis)
- Sanderly Rodrigues (also facing a civil lawsuit in the US filed by the SEC)
- Renato de Carvalho Alves
- Fabio de Arraz Crispim
- Flavio Arraz Crispim
- Rhalff Junio de Almeida Coutinho
- Leonardo Casula Francisco
- Thiago Scardini Marques
- Lelio Celso Ramires Farias
- Sandra Maria Teixeira Araujo
- Bruno Rangel Cardozo and
- Vagner Macson Manhaes da Roza
James Merrill, founder of Telexfree will be going for trial next month for fraud and bankruptcy. The decision of the court in the US will goin a long way to determine the fate of Telexfree owners in Brazil and beyond.