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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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    Tinubu vows end to Plateau killings, orders 5,000-camera surveillance in Jos

    Tinubu dares opposition, says ‘I won’t run away from this fight’

    April 16, 2026
    Favour Ofili has accused the AFN and the Nigeria Olympic Committee of incompetence, prompting her change of allegiance to Turkey.

    Ofili blocked from switching to Turkey by World Athletics

    April 16, 2026

    Wike calls Atiku ‘serial failure’, says 2027 presidency not available

    April 16, 2026
    Gunmen Kwara residents flee community after fresh kidnap attempt

    Gunmen kidnap UTME candidates, others in Benue

    April 16, 2026
    Gbong Gwom Jos suspends Plateau festival over insecurity

    Gbong Gwom Jos suspends Plateau festival over insecurity

    April 16, 2026
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