Local April 25, 2014 - 8:23 am

Complaints prompt TelexFree ‘ponzi scheme’ criminal probe: Official

Santo Domingo.- The Justice Ministry has received the first two complaints for alleged fraud against the ponzi scheme TelexFree, Anti-money Laundering Unit director Germán Miranda announced Thursday.

He said he immediately sent the two victims to National District prosecutor Yeni B. Reynoso on Wednesday and revealed two investigations, one for money laundering and the other for fraud in the ponzi scheme, through which dozens of people were allegedly swindled.

Miranda said the authorities are keen to TelexFree’s announced restructuring of its website and continuing to provide services. "In the same manner we’re warning them that we’ll also proceed against them."

He also warned TeleFree that if they continue their website, it will be “technology” neutralized. "Because they cannot use it, it’s a website… and so it’s part of a fraud investigation.”

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