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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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    Shettima says allies warned Tinubu against wearing gifted campaign outfits

    Shettima: People told Tinubu I wanted to kill him and become president

    May 20, 2026
    Rabiu Kwankwaso speaking during a political event amid ADC crisis speculation

    Kwankwaso working for Tinubu’s re-election, Kano gov’s aide alleges

    May 20, 2026
    Gbajabiamila behind my ordeal, detained journalist reveals on Inside Sources

    Gbajabiamila lauds Lagos APC primaries as Desmond Elliott withdraws

    May 20, 2026
    DHQ dismisses fears of terrorist stronghold after Oyo school attacks

    DHQ says Oyo school attacks not evidence of terrorist base in South-West

    May 20, 2026
    Desmond Elliot speaking during an interview on Channels Television about the attempted impeachment of Mudashiru Obasa.

    Desmond Elliot alleges intimidation, withdraws from APC primary

    May 20, 2026
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