Faith Sloan petitioned the Massachusetts District Court on June 10th, seeking the release of $15,800 from frozen accounts. She claims inability to cover living expenses and legal fees for her defense. An $800 Bank of America balance and $15,000 paid to her attorney remain subject to a preliminary injunction granted last month.

The injunction mandates Sloan identify her assets to the SEC. It also prohibits her from spending any of these frozen funds. Sloan has largely ignored this court order, but finally informed the SEC she "will not comply" by asserting her right against self-incrimination.

The SEC argues the May 7th injunction specifically stated no "carve-outs" from the asset freeze would apply to defendants who fail to identify their assets. Sloan's request for released funds directly contradicts this. Her refusal to declare assets provides sufficient grounds to deny her motion.

The SEC also detailed Sloan's financial activities after TelexFree began to falter. Sloan joined Lucrazon Global in late 2013, shifting her focus from TelexFree. She built a Lucrazon Global downline until compensation plan changes reduced its appeal.

Sloan briefly returned to TelexFree promotion, but the company introduced its own compensation plan changes in March. TelexFree filed for bankruptcy in April, prompting regulators to file Ponzi and pyramid scheme lawsuits.

On April 25th, Sloan spent $18,884 to join Changes Worldwide, a scheme accepting investments up to $25,000 for over 100% ROI in 24 months. A $4854 check for this payment, drawn from Sloan's account, was made out by "Basiru Jallow," a former Lucrazon Global affiliate. Another $10,000 likely covered Sloan's own buy-in. Three days later, on April 28th, Sloan spent an additional $3990 on Changes Worldwide "trading software."

The SEC provided evidence of transfers from Chinese banks. On March 31st, Sloan transferred $8485 from a Bank of China account to her Bank of America account for "personal use." Nine days later, on April 9th, another $5685 entered the account from the Agricultural Bank of China for "living cost(s)." The total amount Sloan holds in these undeclared Chinese accounts remains unknown due to her non-compliance.

Other notable transactions include several commission payments from Lucrazon Global, suggesting she still collected money from the business. She also made payments to Lucrazon Global of $1000 on April 10th and $840 on April 15th. An April 8th payment of $6620 from "Mr. Ou Mme Sommers Michel" was labeled "placement." Three payments totaling $356.85 went to "Preservation of Wealth," a recruitment-driven MLM scheme, in early April. An April 14th payment of $2380 went to "YourDailyAd," a TelexFree ad spam service.

Between March 27th and April 25th, Sloan received or deposited $69,810 into the Bank of America account and withdrew or transferred $119,000 from it. The balance at the end of April stood at $5209. This financial snapshot does not include funds or transactions related to her Chinese bank accounts.

The agency also noted Sloan's attempt to mask ownership of her house in Dolton, Illinois. She previously held sole power of direction and was the sole beneficiary of a real-estate trust that owned the single-family residence. On May 12th, after learning of the SEC case, Sloan amended the trust documents to give her mother, Antoinette, sole power of direction and conveyed her beneficial interests to her mother.