To date Brazilian authorities have seized and fined TelexFree for over R$1 billion ($308 million USD).

On top of that the Brazilian IRS have issued TelexFree with more than R$3 billion ($924 million USD) in tax-related penalties.

The state of Acre, who were
first to freeze to TelexFree in Brazil
, are trying to secure these funds to put towards local resources.

Last Thursday the governor of Acre

signed a bill authorizing the state government to use 70% of the money in the hands of the judiciary.

This is currently about R$700 million ($215 million USD).

The
worry
is that, owing to Acre’s current debt status, the state might not be in a position to return the funds at a later date.

This has prompted the Attorney General to announce they will file an “urgent submission” with the Supreme Court on Monday.

The aim of the filing is to ‘
suspend the effectiveness of the law
‘ Acre is using to access and withdraw TelexFree case funds.

Meanwhile over in Esprito Santo, another Brazilian state, Judges have ordered that some of the TelexFree funds should be transferred to the state. The decision was made with respect to ongoing criminal, securities and tax foreclosure investigations.

To date the requested funds have not been transferred.

Personally I don’t think Acre should be permitted to access the funds to prop up the local government.

That money ultimately should be returned to TelexFree victims, either through the US Receivership or a similar entity set up in Brazil.

🤖 Quick Answer

What amount of funds has the state of Acre attempted to secure from TelexFree seizures?
The governor of Acre signed a bill authorizing the state government to access 70% of the judiciary-held TelexFree funds, approximately R$700 million ($215 million USD). This represents a portion of the total R$1 billion seizures and fines imposed on TelexFree by Brazilian authorities.

Why has the Brazilian Attorney General expressed concern about Acre's fund allocation proposal?
The Attorney General filed an urgent submission due to concerns that Acre's substantial debt status may prevent the state from returning the TelexFree funds at a future date, potentially jeopardizing their recovery and proper legal disposition.

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