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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. March 19, 2020

    Atty In TelexFree MDL Avoids Ouster After Admitting Missteps

    A Massachusetts federal judge issued a warning Thursday to the interim lead attorney in multidistrict litigation over the TelexFree Ponzi scheme after the attorney apologized for "several procedural errors," but he declined to remove him from the case.

  2. January 13, 2020

    Banks Call TelexFree Suit Revision A Waste of Time

    A slew of financial services providers including Wells Fargo, Bank of America, TD Bank and PwC pushed back Friday in Massachusetts federal court against an attempt to revise allegations linking them to the TelexFree Ponzi scheme, arguing the repeat bids for revision are wasting the court's time.

  3. December 16, 2019

    ProPay Asks Mass. Judge To Toss Revised TelexFree Suit

    ProPay Inc. on Friday urged a Massachusetts federal judge to ax a lengthy amended complaint from victims of the TelexFree Ponzi scheme, arguing it was snuck in without notice and doesn't follow court rules.

  4. December 02, 2019

    TelexFree Ponzi Victims Seek To Revive Bank Claims

    Victims of the $3 billion TelexFree Ponzi scheme claim that new evidence supports their allegations against five financial service providers previously cut from their 2014 suit over the scam and are asking a Massachusetts federal judge to accept their fifth amended complaint.

  5. November 06, 2019

    With Amendment Looming, TelexFree MDL Nabs 3 Settlements

    Victims of the $3 billion TelexFree Ponzi scheme told a Massachusetts federal judge on Tuesday they've reached three settlements with the company's former chief financial officer, one of its payment processors and Synovus Bank.

  6. February 12, 2019

    Wells Fargo Tries To Escape TelexFree Ponzi Scheme MDL

    Wells Fargo Advisors LLC has asked a Massachusetts federal court to release it from multidistrict litigation by investors looking to recoup losses they sustained from 2012 to 2014 through the multibillion-dollar TelexFree pyramid scheme, arguing the investors never spelled out Wells Fargo's alleged involvement.

  7. February 05, 2019

    Wells Fargo Escapes TelexFree Ponzi Scheme MDL

    Wells Fargo NA was freed on Tuesday from multidistrict litigation brought by investors to recover losses from the multibillion-dollar TelexFree pyramid scheme that took place between 2012 to 2014, when a Massachusetts federal judge agreed with the bank that the investors failed to state a claim against it.

  8. January 29, 2019

    BofA, TD Bank, PwC Escape TelexFree Recovery Suit

    A Massachusetts federal judge dismissed claims against multiple defendants Tuesday in multidistrict litigation to recover losses from the multibillion-dollar TelexFree Ponzi scheme, including Bank of America, TD Bank and PricewaterhouseCoopers, saying the evidence doesn't suggest they participated in or willfully ignored the global fraud.

  9. May 07, 2018

    TelexFree Investors Can Sue Founder's Wife, Judge Says

    A federal judge in Massachusetts decided Monday that investors fleeced by the billion-dollar pyramid scheme TelexFree LLC can go after the wife of the man who founded the notorious company, in addition to other executives, in a effort to recover losses.

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