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    Chronicle NG

    Money Laundering: $20m cash concealed in mattress

    Chronicle EditorBy Chronicle EditorJanuary 25, 2017No Comments2 Mins Read
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    The $20m cash concealed in a mattress
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    The $20m cash concealed in a mattress

    United States authorities have seized $20m (£16m) in cash discovered in a bed frame under a mattress in a Massachusetts flat.

    The cash is believed to be linked to a $1bn pyramid scheme involving TelexFree, a company that claimed to provide internet phone services.

    Investigators uncovered the cash while following a Brazilian man, who was charged in connection to the haul, BBC reports.

    Federal prosecutors say the defunct company swindled almost a million people worldwide out of about $1bn.

    The US attorney’s office in Massachusetts tweeted a photo of the windfall of cash, which was found at the flat of Brazilian national Cleber Rene Rizerio Rocha, 28, in Westborough, Massachusetts.

    Mr Rocha was arrested and charged with conspiring to commit money laundering.

    A judge on Monday ruled that Mr Rocha was a flight risk and held him without bail.

    Prosecutors argue Mr Rocha was part of the scheme, transferring millions of dollars to Brazil by laundering the cash through Hong Kong.

    TelexFree, which purported to sell Voice over Internet Protocol (VoIP) services, allegedly made most of its revenue from people buying into the company scheme with the promise of payouts for posting online ads, according to federal prosecutors.

    Those investors were then compensated with money from new recruits, who were often friends and family members.

    “TelexFree purported to aggressively market its VoIP service by recruiting thousands of ‘promoters’ to post ads for the product on the Internet,” the Department of Justice said in a statement on its website.

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    El-Rufai court bail hearing in Abuja with strict DSS reporting and surety conditions outlined by the Federal High Court.

    Court orders El-Rufai to report to DSS monthly

    May 18, 2026
    Land-grabbing thugs popularly called "Omo Onile" have demolished over 50 buildings in the Surulere community of Lagos State.

    Political thugs disrupt Ondo APC primary collation

    May 18, 2026
    Senate : SERAP demands Akpabio publish names in N200tn NNPCL probe

    Akpabio emerges APC senatorial candidate for Akwa Ibom north west

    May 18, 2026
    Peter Obi has expressed condolences to former Kaduna State governor Mallam Nasir El-Rufai on the death of his mother, Hajiya Umma El-Rufai.

    El-Rufai: Family kicks as DSS picks ex-gov after court grants bail

    May 18, 2026
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    Yahaya Bello wins APC Kogi central senate primary

    May 18, 2026
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