Ponzi Scheme Collapses | $20Million Discovered

A Ponzi scheme like MMM named TelexFree has collapsed and a huge sum of money discovered under a the Ponzi Scheme Operator's bed. How funny

About $20million in cash has been found, hidden inside a box spring in a Massachusetts apartment, USA. The apartment is part of an investigation into an internet telecom company that was actually a massive international pyramid scheme.

The money was found on Wednesday, January 18, inside a Westborough apartment by investigators. The detectives had been tailing a Brazilian man from New York.
The man is Cleber Rene Rizerio Rocha, a 28-year-old man was charged with conspiring to commit money laundering. He could spend up to 20 years in prison and be fined twice the gross gain or loss.

The investigation into TelexFree, a Marlborough, Massachusetts-based company that purportedly sold VOIP telephone service has led to several arrests.
According to the New York Post, TelexFree had few customers and made most of its revenue from people buying into the company with a promise of payouts for posting online ads for it, prosecutors have said.

They were paid with money from new recruits, often friends and family of earlier investors just like a Ponzi scheme like MMM.

This story is not far from the same story MMM will have. Ponzi scheme is not a good idea, Nigerians



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THE1960POST: Ponzi Scheme Collapses | $20Million Discovered
Ponzi Scheme Collapses | $20Million Discovered
Ponzi Scheme Collapses | $20Million Discovered
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