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In Re: Telexfree Securities Litigation

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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. 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." 

  2. 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.

  3. 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.

  4. 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.

  5. September 05, 2023

    Wells Fargo Must Produce Docs in TelexFree Suit, Judge Says

    A Massachusetts federal judge ordered Wells Fargo Tuesday to produce some documents requested by those affected in the $3 billion TelexFree Ponzi scheme, ruling they had adequately alleged "shortcomings" in the bank's search methodology.

  6. June 13, 2023

    TelexFree Victims Are Seeking Irrelevant Documents, PNC Says

    PNC Bank on Tuesday urged a Massachusetts federal judge to reject a subpoena that would force it to turn over certain documents to victims of the $3 billion TelexFree Ponzi scheme, arguing the victims have failed to demonstrate the relevance of the documents.

  7. June 08, 2023

    TelexFree Victims Cry Foul On Defense Atty's Exit Bid

    Victims of the $3 billion TelexFree Ponzi scheme told a Boston federal court Thursday that a request to withdraw by the lawyer for the estranged wife of founder Carlos Wanzeler is "merely a ploy" aimed at further thwarting discovery in litigation seeking to recover their funds.

  8. June 05, 2023

    Wells Fargo 'Stonewalled' Discovery, TelexFree Investors Say

    Victims of the $3 billion TelexFree Ponzi scheme are accusing Wells Fargo of dragging its feet on producing certain requested documents as the discovery deadline looms for the sprawling multidistrict litigation in Massachusetts, where they're seeking damages from the scheme's financial and legal facilitators.

  9. May 31, 2023

    TelexFree Victims Seek PNC Docs Despite Bank's Dismissal

    Victims of the $3 billion TelexFree Ponzi scheme have asked a Massachusetts federal judge to force PNC Bank to produce documents related to the scheme even though the bank is no longer a defendant in the sprawling litigation.

  10. May 05, 2023

    BofA Trying To Hide Ball, TelexFree Investors Say

    Bank of America shouldn't be allowed to press pause on its discovery obligations in multidistrict litigation over its role in the $3 billion TelexFree Ponzi scheme, according to victims who told a federal court this was an effort to thwart them from pursuing damages from the bank.

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