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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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    Benue and Niger tragedy: Obi slams Tinubu for failing to visit affected communities

    NDC screens Peter Obi for presidential primaries

    May 20, 2026
    Peter Obi reacts to the kidnapping of students in Borno and Oyo states, describing the attacks as a threat to Nigeria’s future and education sector.

    Peter Obi unperturbed as PDP clears Jonathan for 2027 election

    May 20, 2026
    Singer Niniola loses husband after 13 years of marriage

    Singer Niniola loses husband after 13 years of marriage

    May 20, 2026
    Michael Oyedokun: Terrorists behead abducted Oyo teacher

    Oyo attack, abductions heighten security agitations in South-West

    May 20, 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.

    Lagos bans transportation of goods on public buses

    May 20, 2026
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