The deadline to present an application to claim
reimbursement of losses due to the closure of TelexFree
Company has been extended until December 31,
The Massachusetts bankruptcy court has extended
the deadline for submitting applications for reimbursement to the
administrator of TelexFree until December
31, 2016. Originally the deadline had been set for
September 26, 2016. The decision was made to give way to a larger
number of people that were scammed and to recover their
investments. Those who have already submitted an electronic
submission will not have to submit a new one.
The deadline to submit the application for TelexFree
reimbursement has been extended to 31/12/2016
It has been established that by December 31, 2016 people or
companies that were involved in the scam and have purchased a
membership plan or a packet Voice Over Internet, can document their
losses caused by Telexfree. They can ask
to be compensated for the initial investment wherever they
The attachments with which you will be able to demonstrate
how much you have lost are the documents that are requested
to be prepared with diligence. This is so as to be certain
to be included on the list of refund claims. It is always
advisable to get expert legal assistance. Our lawyers will
be able to guide you by preparing the motion and also have the
money reimbursed in US currency.
Our Forex Department lawyers will advise you on
whether or not to go forward with the reimbursement claim. This
will be evaluated on a case by case situation.
Applications must be signed by those who have
experienced a scam or a person authorized by them. Filing a
ePOC (Electronic Proof of Claim, EXAMPLE:
"credit electronic evidence"), is the ONLY valid means of
presenting documentary evidence of its claims against the
Refunds will be calculated on the basis of
"equity", that the sums invested by you,
decreased the amounts received during the participation in the
scheme Telex Free. You should submit your
application only if you have a claim against one of the three
companies USA Telex Free: Telex Free, LLC; Telex Free, Inc.
or Telex Free Financial, Inc.
If you have a claim with Telex Free and Ympactus, you cannot
submit a request to the American authorities because the Brazilian
authorities also come into play, and the procedures with get
A step back: what led to the closure of telexfree?
Telex Free is an online business that was
established in February 2012. The creators are three Brazilians:
Carlos Roberto Costa, Carlos Nataniel Wanzeler and James Matthew
Supposedly they handled the sale of advertising
packages. After the investment, there only obligation was
to enter some advertising links on a computer. In
doing so, the investors were ensured economic returns of up
to 300% of the capital employed initially. Another way to
make money with Telex Free was to pair up other
people. Any expenditure made by affiliates ensured a further gain
to those who presented others.
It is sad to think that such gain is considered an
illegal pyramid scheme by almost all courts of the
It is impossible to know how many people have joined, before
knowing what the real criminal purpose of the company was.
There is talk of more than a million people. Even
in Italy there have been cases of real recruitment conventions, so
compelling as to favor the spread of the scam in our country, as
April 13, 2014, two years after its opening,
Telex Free was declared illegal by the Court of the
District of Massachusetts. Meanwhile the
money of those who had bought advertising packages
had gone missing.
What is a pyramid scheme?
The pyramid scheme is a system that entices
casual investors, leading them to invest money and
attracted by the lure of easy money.
The money is not actually invested but used to pay
investors already recruited earlier to make them believe in the
validity of the system and make positive publicity. Also
enlisting in good faith other investors. Inevitably, sooner or
later the system crashes, because there is no new money, or because
the organizers of the scam decide it's time dismantle
everything and escape with the money.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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