Sunwind Energy Group has agreed to return over $3 million in funds to the TelexFree Trustee. The settlement resolves a lawsuit filed in April by the Trustee, who sought to recover approximately $2.6 million in alleged Ponzi scheme proceeds. These funds were transferred to Sunwind Energy through TelexFree Electric, an entity owned by TelexFree co-founders Carlos Wanzeler, James Merrill, and Carlos Costa.

The agreement requires Sunwind Energy to pay $2,608,889 in principal, plus $423,497 in accrued interest. Sunwind Energy has stated it does not currently possess the full amount and is seeking additional funding. The settlement includes a grace period, with the Trustee agreeing not to enforce collection until April 30, 2017. Should Sunwind Energy fail to meet this payment deadline, the agreement permits the Trustee to pursue the sale of company assets.

During this period, Sunwind Energy is restricted from certain actions without the Trustee's consent. These restrictions are understood to prevent actions that could further deplete assets or jeopardize the company's ability to repay the debt. The Trustee has asserted that the settlement is fair and reasonable, and that it allows Sunwind Energy to continue pursuing its development plans without immediate collection pressure.

The Trustee's assertion that Sunwind has minimal assets and that immediate collection would be of little utility raises questions about the company's financial stability. The settlement agreement itself acknowledges the absence of signed loan documentation for the original transfer, while confirming the Trustee's right to recover the funds with ongoing interest. The proposed settlement agreement was submitted to the court for approval.

On July 27, 2016, the court approved the settlement agreement between Sunwind Energy Group and the TelexFree Trustee.