Telexfree
Sign in to saveAlso known as Telexfree Inc.
Telexfree (stylized as TelexFREE), a trade name owned by Telexfree Inc., was a multibillion-dollar Ponzi scheme disguised as an internet phone service company. Prosecutors have described it as the largest fraud of all time in terms of the number of people affected - more than 1 million, with victims in various countries. The brand became best known for its operations in Brazil held by Ympactus Comercial Ltda after it was involved in an ongoing investigation and trial for operating a Ponzi scheme, and later for having its operations suspended in the US by SEC under the charges of operating a mu
Wikidata facts
- Official website
- www.telexfree.com
Show 2 more facts
- dissolved, abolished or demolished date
- 2014-04-13
- inception
- 2012-02-02
Sources (1)
via Wikidata · CC0
~16 min read
Article
11 sectionsContents
- Telexfree case in Brazil
- Issues with insurance companies
- Public prosecutor and judge death threats
- Telexfree case in the US
- Telexfree operations in other countries
- Connections with other operations
- Logo plagiarism controversy
- Government documents
- See also
- References
- External links
Telexfree (stylized as TelexFREE), a trade name owned by Telexfree Inc., was a multibillion-dollar Ponzi scheme disguised as an internet phone service company. Prosecutors have described it as the largest fraud of all time in terms of the number of people affected - more than 1 million, with victims in various countries. The brand became best known for its operations in Brazil held by Ympactus Comercial Ltda after it was involved in an ongoing investigation and trial for operating a Ponzi scheme, and later for having its operations suspended in the US by SEC under the charges of operating a multibillion-dollar Ponzi and pyramid scheme.
Telexfree Inc. owns the rights to the Telexfree brand worldwide. The company was created by Carlos Roberto Costa, Carlos Nataniel Wanzeler and James Matthew Merrill after the change of its former corporate name Common Cents Communications Inc., which was incorporated in Massachusetts. According to the Company Registration Office of Massachusetts, Telexfree Inc. started to use this corporate name on February 15, 2012.