Articles Tagged with bankruptcy


While state and federal prosecutors in Massachusetts have secured more than $150 million of the $1 billion raised by alleged investment fraud, known as “TelexFree”, victims’ claims for restitution have yet to be processed.  Authorities have said that these funds will not be available until the conclusion of the U.S. Department of Justice’s criminal case against the perpetrators of the fraud, Carlos Wanzeler and James Merrill.   The court handling TelexFree’s pending bankruptcy proceedings also has approved a method for disbursing funds.

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