SEC News: SEC Obtains Final Judgment Against Two Nevada Companies for Their Role in a Pyramid Scheme



Securities and Exchange Commission v. TelexFree, Inc. et al., No. 14-cv-11858 (D. Mass. filed Apr. 17, 2014)

WASHINGTON – On November 2, 2018, the SEC obtained default judgments against two entities, TelexElectric, LLLP and Telex Mobile Holdings, Inc., which were both named as relief defendants for the purpose of recovering ill-gotten gains that the entities received from TelexFree, LLC in connection with the TelexFree pyramid scheme. TelexElectric was ordered to pay $2,0222,239, and Telex Mobile Holdings was ordered to pay $500,870. 

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