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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. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  6. April 05, 2023

    BofA Wants To End TelexFree Ponzi Scheme MDL Claims

    Bank of America has asked a Massachusetts federal judge to give it an early win on the aiding and abetting allegation it faces in sprawling multidistrict litigation arising from the global TelexFree Ponzi scheme.

  7. January 03, 2023

    BofA Can't Ditch TelexFree Ponzi Scheme MDL Claims

    A Massachusetts federal judge refused Tuesday to reconsider his decision denying Bank of America's bid to toss claims it aided the global TelexFree Ponzi scheme, but agreed to trim claims against a bank senior vice president who opened and quickly closed a TelexFree account.

  8. November 09, 2022

    2 I-Payout Officers Seek Way Out Of TelexFree Ponzi Suit

    Two officers of International Payout Systems Inc. have asked a Massachusetts federal judge to toss claims against them over their alleged involvement in the TelexFree Ponzi scheme, arguing the plaintiffs' claims not only fail to state a cause of action but were filed well past the applicable four-year statute of limitations.

  9. October 25, 2022

    PNC Bank Urges Judge To Leave It Out Of TelexFree Suit

    PNC Bank asked a federal judge Tuesday not to reconsider his decision to drop it as a defendant in a multidistrict suit over the TelexFree Ponzi scheme, saying there is still no evidence it knew about the multibillion-dollar fraud.

  10. August 31, 2022

    BofA, Wells Fargo, TD Bank Can't Duck TelexFree Claims

    Bank of America, Wells Fargo and TD Bank can't avoid claims of aiding and abetting the multibillion-dollar TelexFree Ponzi scheme, a Massachusetts federal judge ordered Wednesday in a ruling that also dropped consulting behemoth PwC and PNC Bank from the civil case.

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