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    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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    Terrorists Catholic church attacked by terrorists in Cross River

    Terrorists attack hospital, kidnap health workers in Ondo

    March 28, 2026
    ADC criticizes Tinubu over Nigeria’s global terrorism index

    Tinubu warns opposition to stop twisting Electoral Act over politics

    March 28, 2026
    The All Progressives Congress (APC) on Friday elected a new set of national officers during its National Convention held at Eagle Square in Abuja, with Professor Nentawe Yilwatda returned as the National Chairman of the APC. APC.

    FULL LIST: APC returns Yilwatda as chair, elects national executives

    March 28, 2026
    Alhaji Atiku Abubakar, has extended sympathies to the former governor of Kaduna State, Nasir El-Rufai, over the death of his mother, Hajiya Ummi El-Rufai.

    Atiku mourns death of El-Rufai’s mother

    March 28, 2026
    El-Rufai to presidency, I would still criticise APC, Tinubu government

    Tinubu consoles El-Rufai over mother’s death

    March 28, 2026
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