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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
    Facebook Twitter WhatsApp
    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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    Abia State Governor Alex Otti has confirmed two separate kidnap attempts at Olokoro and Ubakala, both in the Umuahia South Local Government Area, by men suspected to be cattle herders.

    Otti seals $200m palm oil deal, targets 5,000 jobs in Abia

    The president of Iran, Masoud Pezeshkian, said on Saturday that his country would never surrender to Israel and the United States as the Middle East war entered its second week.

    Iran loses 56 museums, historic sites as war intensifies

    Sanwo-Olu The Lagos State Internal Revenue Service has declared that it will use third-party agents to collect unpaid taxes from defaulting taxpayers, including banks, employers, debtors, tenants, and business partners.

    Sanwo-Olu to ban Lagos children from streets during school hours

    NSIB report on Arik Air engine failure clears flight crew of drug use

    NSIB report on Arik Air engine failure clears crew of drug use

    Petrol price hike deepens cost of living crisis in Nigeria

    Petrol price hike deepens cost of living crisis in Nigeria

    Tinubu sets up petroleum reform task force to drive sector overhaul

    Tinubu overrules Keyamo, moves NSIB to Presidency

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    Abia State Governor Alex Otti has confirmed two separate kidnap attempts at Olokoro and Ubakala, both in the Umuahia South Local Government Area, by men suspected to be cattle herders.

    Otti seals $200m palm oil deal, targets 5,000 jobs in Abia

    March 14, 2026
    The president of Iran, Masoud Pezeshkian, said on Saturday that his country would never surrender to Israel and the United States as the Middle East war entered its second week.

    Iran loses 56 museums, historic sites as war intensifies

    March 14, 2026
    Sanwo-Olu The Lagos State Internal Revenue Service has declared that it will use third-party agents to collect unpaid taxes from defaulting taxpayers, including banks, employers, debtors, tenants, and business partners.

    Sanwo-Olu to ban Lagos children from streets during school hours

    March 14, 2026
    NSIB report on Arik Air engine failure clears flight crew of drug use

    NSIB report on Arik Air engine failure clears crew of drug use

    March 14, 2026
    Petrol price hike deepens cost of living crisis in Nigeria

    Petrol price hike deepens cost of living crisis in Nigeria

    March 14, 2026
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