Santiago De La Rosa has settled his case with the SEC and the TelexFree Trustee after a federal judge rejected his bid to dismiss the charges against him.

The court approved the settlement on July 31st. De La Rosa and his wife extracted $585,731 in net winnings from the collapsed TelexFree scheme before authorities moved in. The SEC had sought $1.7 million from him, including prejudgment interest.

Under the settlement terms, De La Rosa must hand over balances from three bank accounts—two in his own name and one controlled by his company, Magica Media Corp. He's also required to pay an additional $100,000 directly to the Trustee. The specific settlement details remain under wraps, though court filings reveal the financial stakes involved.

The settlement leaves only two defendants from the original eight named in the SEC's 2014 lawsuit still fighting. Carlos Wanzeler fled the country and is now a fugitive hiding in Brazil. Faith Sloan has gone a different route, operating under the persona "Cryptocurrency Queen Wiki" and using Facebook to peddle cryptocurrency schemes.

An August 14th SEC press release provided the full accounting of what De La Rosa owes. The judgment orders him to pay $1,092,013 in disgorgement and prejudgment interest. That obligation gets satisfied through transferring assets valued at $992,013 and paying $100,000 to settle a related bankruptcy case.

Wanzeler remains at large in Brazil. Sloan's current status in the TelexFree litigation remains unclear.

🤖 Quick Answer

What settlement did Santiago De La Rosa reach with the SEC and TelexFree Trustee?
Santiago De La Rosa settled his SEC case on July 31st after a federal judge rejected his dismissal bid. He must surrender balances from three bank accounts and pay an additional $100,000 to the Trustee, following extraction of $585,731 from the collapsed TelexFree scheme.

How much did Santiago De La Rosa profit from TelexFree before its collapse?
De La Rosa and his wife extracted $585,731 in net winnings from the TelexFree scheme before authorities intervened. The SEC had initially sought $1.7 million from him, including prejudgment interest, before reaching the settlement agreement.

What financial obligations did De La Rosa assume under the settlement?
De La Rosa must transfer balances from two personal bank accounts and one account controlled by his

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