The TelexFree Trustee has warned against victims selling approved claims.
The warning was reported by the Brazilian Times. I was unable to find an English equivalent or even the context of the Trustee’s warning.
In any event, along with a consumer rights attorney, the Trustee warns
some companies are contacting victims and offering to buy the amount the victim has to receive for $ 0.10- $ 0.12 for every $ 1.
This means, the lawyers exemplified, that a person who has to receive $ 10,000.00 if he sells his claim will receive only $ 1,000.00 and lose all rights.
That is, when return checks begin to be sent, whoever sold what they had to receive will receive nothing.
For the better part of six months or so the TelexFree Trustee website has been recording notice after notice of claims being transferred to third-parties.
The two companies targeting TelexFree victims are VonWin Capital Management and Argo Partners.
The TelexFree claims portal closed in late 2016. Affiliates with approved claims are still waiting for a first distributed payment.
🤖 Quick Answer
What warning did the TelexFree Trustee issue to victims?The TelexFree Trustee cautioned victims against selling their approved claims to third-party companies. These firms offer to purchase claims at significantly discounted rates, typically $0.10-$0.12 per dollar owed, resulting in substantial financial losses for victims who forfeit their rights to future distributions.
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