"oh no we are not being investigated TF has always said" , but the MA authorities always keep quiet about investigation, but now they got to the stage of issuing court orders, the investigation is on the record.
13th March TF has formed a series of Las Vegas companies as if to evade the law. But apparently this trick will not work, as US law is wise to it.
March 5th supoena& tying the MO to an already closed down biz could make the end come quicker
Legal process can take time, but the Massachusetts court on Wednesday took a step on Wednesday by associating the case of Telexfree with a similar company that it has already closed down. "The model is similar to a system utilized by a company called WCM777, which offered buy-in packages that would make the purchaser eligible for various referral bonuses and commissions, according to Galvin's office. The company sold packages worth a combined $300,000 to around 160 Massachusetts residents, the majority of whom were Brazilian, before the secretary ordered the company to halt its operations in the state in November."
2. There is a counter story from Telexfree believers to every blow against them. One of which is that TF has growth in the UK and America, it doesn't as it is clearly a ponzi scheme and the regional authorities in UK and US have issued warning directly against TF it's not just other scammers pretending to be TF
1. Jersey Police UK
2. US MA, "Secretary of State William Galvin's office is investigating a Marlborough-based telephone marketing company that has already been banned in Brazil for running a pyramid scheme."
Confirmation of the US investigation . TF should have been in court on Wednesday.. no news yet ..
...telexfree-us-investigation-linked-to-WCM777 a scheme the gov already closed down
- UK police warnings
- Guernsey police seem clear on Facebook
"But Bank is a pyramid aswell ! "
I'd like to convince people by showing them true stories of people lost money .. but many will be afraid to tell that they were doing tax free business .. It is the nature of pyramids that people don't know they have lost money until it folds.. They are always waiting for their 3 month intro period to end then they start to get back their investment, so it can be 3 months further before you have got back your investment
"But Bank is a pyramid aswell ! "they say
Make a comparison between A bank and TelexFree
- If 10,000 Madeiran people put €100m in the bank then after 3 years they will have €100m.
- Seems to ..If 10,000 Madeiran people put €100m in the TF then after 3 years they will have €50m
..with some people having €50,000 from initial €10,000 while many others will have lost their €10,000 as the scheme will have collapsed.
This is quite a different scheme from Madeiran wine business where foreign money from Germany, UK & America, does come into the business to buy a real product. I have seen no evidence of real TF customers in other countries, the money in the business seems to be the same Madeiran money going around and around
Telexfree in Carnival
Pre Carnival - Festa do Compadre in Santana
Sat - Funchal Carnival Parade
spent all day making carnival costume, with limited success.
- The parade was actually Rio style and crowd didn't wear costumes
Sunday - Esteisto do C Lobos Carnival Fun parade. Mix of kids and some clowns.
Here's a Telex free clown. can't work out if it's was for or against.
- Ah against cos, La Dona Branca Invista is an old story where the woman gave interest rates too good to be true. Guess what ? it was a pyramid scam.
"chiefly for maintaining a Ponzi scheme in Portugal between 1970 and 1984 that paid a ten percent monthly interest. During this time she became popularly known as "The people's banker".
Portrayed in a 1993 telenovela titled A Banqueira do Povo .."
Dona Branca Wikipedia in English
- Dona Branca Wikipedia na portguesa
That explain ns why Telexfree is more ular with young girls than older people .. The young won't be familiar with that TV series from 20 years ago.
- I handed out of bit of Free Money (comes with consequences), but the average housewife is Telexfree Brainwashed.
One Crazy Brit against 40,000 believers
- Despite UK police speaking up straight away, the Madeira police do nothing it seems.
Tuesday - I joined the Funchal parade as :
big orange feet and a duckbill = duck
- One against 40,000. My one man protest at carnival in Madeira last week of dressing up as a duck to draw attention to fact that the magic money making biz TelexFree is a pyramid or ponzi scheme, didn't go down too well with people here. I realised that the problem is I am insulting the people's new religion. And once they are grabbed cult-like they enter some kind of psychosis where they are not rational, so you can't have rational conversation with people who aren't rational.
- Of course I had already noticed parallels with the true believers of "climate catastrophe is certain" theory.
There was another parallel between the pyramid scam and global warming. : I am with "minority group of uncool twats who are obviously wrong". And I am selling boring complicated pragmarism against a an exciting dream. So It's not going to get me a girlfriend, or earn me any money. consider me : "Don't get into that scam, in the end you could lose a lot of money" Pyramid boy "Hey babe it's cool look at me I upgraded from a Fiat to a BBC, so don't take any notice of that guy who is practically homeless, let me sign you up"
- Yes strange how appreciation doesn't mirror the benefit you give. Pyramidboy gets a lot of appreciation today although the net result of his work is that by collapse time Madeira island will lose $100m as opposed to the $50m if they stopped today.
The bigger the TelexFree balloon gets the bigger the BANG when it bursts
But if I stop them today with my efforts no one is going to value me at $50m Almost no one is thanking me.. except :
1 friend who thanked me for explaining clearly so he didn't enter the scheme
- and another one who has now got out, so will not lose money unless clawbacks happen.
- As well as rational "true believers" there are cult "true believers", who are caught in a psychosis, and that accounts for the bile you see on their forums. You cannot expect reason from those suffering from the psychosis.
Where the news should first appear whether the shutdown order comes in 6 months or 7 days
- stories of victims in Brazil who lost money .... They had sold houses and cars to invest etc.
Winners think they are safe ? Clawbacks
Clawbacks : I didn't know about this. When the US govt closed schemes top winners did not get to keep their money, Instead the receiver came to claim the money back as it was the result if an illegal ponzi sheme. I previously agreed with the lucky people who have been in a long time and have earned back their investment. but now they may end up poorer than they think.
- story in behindmlm
- The bigger the ballon gets the bigger the burst will be when it bursts.
Losers = new players, but not just also other local investment businesses, sustainable jobs, local economy/businesses in the long term. TF suicides ?
- Now overall the Island of Madeira is maybe $50m down, in 6 months time it might be $100m down. We know the individual customers don't think they have lost any money, cos they all have their eyes on the 3 month limit when they start getting some money back, and maybe 6 months when they get into profit, So they are not sad now, but will there be TF suicides when it does burst ?
- You can only take money out that others have put in. They are waiting for their 3 months to & their profits to come if it suddenly stops they won't get their money back.
- However that's not the end, they are not the only losers, aren't the legitimate businesses losing out ? Cos money that would normally be going into them has been going into TF. That should mean sustainable local jobs are not been created.
- We do have to consider people might have just put money in bank and never spent it, like when they win in TF, Now we know now that there are jolly jobs now as people spend there TF "profits" , but that will be followed by a recession, when the scheme ends and many more people will have lost money that they would otherwise spent in the future, so bad for Madeira economy and businesses.. Then they will ask for EU help .. and the EU will tell then to ...
PS It flippin happened before the Dona Branca scheme ran from 1970-84 until it collapsed losing €85m of clients money ..and people should know as it was a 1993 TV novela.
I see the monthly political satire newspaper Quebra Costas has a frontpage article about TF and political corruption.
Another anti-MLM blog covers the story patrickpretty.com/
my Skeps forum post
My question on JREF
behinmlm.com is the best source of independent objective Telexfree informstion
I think we can say that although Telexfree hasn't yet been officially shut down * it's pretty much dead. The latest is people are being forced into new unattractive contracts and it seems difficult to get your money out. Since it is a ponzi scheme your 'profits' were basically paid from the money your neighbours paid in when you introduced them to the scheme. Since their are no new people coming into the scheme their is no new money to pass on to your neighbours so they will pretty much lose most of their money depeding how much the top people skimmed off. One thing is users accounts now no longer show dollars but CR credit units instead. As usual 'religion style' they will have a shallow answer for everything which the faithful will believe.
* presumabley the SEC is taking time to formalise the shut down legal papers.
The mlm news sites warn the usual scam is to try to rebound by lure people into another scheme which is 'even better' than the one that just closed.