LexisNexis® Legal Newsroom
Wife of Fugitive Accused of $1 Billion Ponzi Scheme Arrested Trying to Board Brazil-Bound Plane

With her husband thought to be hiding in Brazil after being indicted on charges he masterminded one of the largest Ponzi/pyramid schemes in history, a Massachusetts woman was arrested by federal authorities at a New York airport just before she was supposed to board a plane to Brazil. Federal agents...

Court Appoints Independent Trustee For TelexFree

A Massachusetts federal Bankruptcy judge approved a request by the Department of Justice to have an independent trustee appointed over TelexFree, LLC and related entities ("TelexFree"), after the U.S. Trustee argued that "compelling evidence of fraud...[and] criminal conduct" warranted...

TelexFree Founders Indicted on Fraud Charges

A Massachusetts grand jury indicted TelexFree co-founders James Merrill and Carlos Wanzeler on multiple fraud charges in what authorities have alleged was a massive Pyramid/Ponzi scheme that may have defrauded victims out of hundreds of millions of dollars. Merrill and Wanzeler were charged with one...

TelexFree Trustee Files Detailed Financial Reports, Previews Next Steps

As the one-year anniversary approaches of what may likely be the largest Ponzi and pyramid scheme in history based on the sheer amount of victims, the court-appointed bankruptcy has filed the long-awaited disclosures detailing the scheme's assets, liabilities, and financial affairs. Stephen B. Darr...