Last week was a busy week for TelexFree. After filing for bankruptcy protection on Monday in a Nevada bankruptcy court, state and federal securities regulators filed civil actions accusing the company of operating a massive pyramid and Ponzi scheme that, by one estimate, may have raised $1 billion from investors worldwide. That same day, federal agents from the FBI and the Department of Homeland Security raided the company's headquarters in Marlborough, Massachusetts, which later drew headlines after authorities discovered TelexFree's Chief Financial Officer attempting to remove $38 million in cashier's checks from the offices. (The company later claimed there was no nefarious purpose behind this effort.) Now, one week after TelexFree's bankruptcy filing and as reality begins to set in to an estimated 700,000 company "affiliates," the focus turns to the next steps. This includes not only the various pending court and regulatory proceedings, but also the future of those "affiliates" that made substantial investments based on promises of extravagant returns.
READ ALL THIS IMPORTANT REPORT AT: http://www.ponzitracker.com/main/2014/4/20/whats-next-for-telexfree-victims.html
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