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In Re: Telexfree Securities Litigation

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Case overview

Case Number:

4:14-md-02566

Court:

Massachusetts

Nature of Suit:

Contract: Other

Multi Party Litigation:

Class Action, Multi-district Litigation

Judge:

Nathaniel M. Gorton

Firms

Companies

Sectors & Industries:

  1. August 15, 2025

    Judge Punts On ProPay Sanctions In TelexFree Suit

    A Massachusetts magistrate judge sent a motion for sanctions against ProPay to a district judge for ruling, saying the payment company failed to take steps to preserve electronic documents but the plaintiffs hadn't proven its intent to destroy evidence in a case over its alleged involvement in TelexFree's "hybrid Ponzi-pyramid scheme."

  2. April 08, 2025

    TelexFree Investors Can't Sue Wells Fargo, Others As Class

    A Massachusetts federal judge on Tuesday refused to grant class certification in a suit from investors claiming they lost money in the massive TelexFree Ponzi scheme, siding with a handful of defendants remaining in the multidistrict litigation.

  3. December 17, 2024

    TelexFree Victims Seek Class Cert. Over Ponzi Losses

    Victims of the multibillion-dollar TelexFree Ponzi scheme have asked a federal judge to certify their class in their suit against the litigation's remaining defendants, including TelexFree insiders and Wells Fargo, arguing that cases arising from Ponzi schemes are the "very archetypes for class treatment."

  4. November 20, 2024

    Wells Fargo Must Turn Over E-Docs In TelexFree Litigation

    A Massachusetts magistrate judge on Wednesday ordered Wells Fargo Advisors LLC to hand over electronic files maintained by a compliance manager who investigated potential misconduct by an employee handling accounts of TelexFree associates under investigation in a $3 billion Ponzi scheme.

  5. September 27, 2024

    TelexFree Victims Say Payment Processor Lost Key Emails

    Victims of the multibillion-dollar TelexFree Ponzi scheme said a payment processor's loss of critical emails and other files related to the ploy amounts to a "blatant coverup" to hide evidence that would have otherwise bolstered their case against the company.

  6. August 12, 2024

    TelexFree Victims To Depose Alleged Scammer's Estranged Wife

    A Massachusetts federal judge on Monday denied a request from the estranged wife of alleged TelexFree Ponzi schemer Carlos Wanzeler to escape a civil lawsuit filed by victims of the alleged $3 billion ploy and ordered her to sit for a Sept. 17 deposition and hand over documents requested by victims of the scheme.

  7. April 18, 2024

    Wife Of Alleged $3B TelexFree Scammer 'Hounded' In MDL

    The estranged wife of alleged TelexFree Ponzi schemer Carlos Wanzeler said Thursday that plaintiffs in a decade-old civil suit are needlessly "hounding" her for information they already have and urged a Massachusetts federal court to free her from the "litigation purgatory." 

  8. October 18, 2023

    TelexFree Victims Want BofA Back In Case Over $3B Ponzi

    Bank of America was dismissed unfairly from litigation over its alleged involvement in the $3 billion TelexFree Ponzi scheme, victims of the scheme told a Boston federal judge Wednesday.

  9. October 03, 2023

    TelexFree Victims Win Initial OK Of $95M TD Bank Deal

    A Massachusetts federal judge has given the first green light to a $95 million settlement between TD Bank and the victims of the $3 billion TelexFree Ponzi scheme after the consumers told the court that the deal was more than twice the $47 million worth of TelexFree-related deposits processed by TD Bank throughout the alleged scheme.

  10. September 15, 2023

    TelexFree Victims Gave 'Incomplete' Docs, Wells Fargo Says

    Wells Fargo Bank NA has accused victims of the $3 billion TelexFree Ponzi scheme of failing to properly respond to the bank's discovery requests in expansive multidistrict litigation over the roles financial institutions played in the scheme, asking a Massachusetts federal judge to require a tidy handover of the requested documents.