SEC Files Charges Against TelexFree, Alleging It is a Pyramid Scheme
The Securities and Exchange Commission has filed charges against TelexFree alleging that it is a Ponzi and pyramid scheme. TelexFree sold telecommunications and advertising services via a network marketing plan. Critics have long contended something illegal was amiss with the business, and the government has finally stepped up.
It’s heartening to see governmental agencies are stepping up to the plate to stop these shady businesses from taking advantage of consumers around the US and world. You can take action by filing a complaint to the Federal Trade Commission.