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    Chronicle NG

    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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    Peter Obi has expressed condolences to former Kaduna State governor Mallam Nasir El-Rufai on the death of his mother, Hajiya Umma El-Rufai.

    ICPC takes El-Rufai into custody after bail hearing

    Chaos broke out in Jos, the Plateau State capital, on Wednesday, following the relaxation of the 48-hour curfew by the state government.

    Chaos in Jos after relaxation of 48-hour curfew

    Peter Obi has expressed condolences to former Kaduna State governor Mallam Nasir El-Rufai on the death of his mother, Hajiya Umma El-Rufai.

    El-Rufai gets court ruling on bail application today

    Three ministers quit as Tinubu enforces Electoral Act

    Three ministers resign as Tinubu enforces Electoral Act

    The Central Bank of Nigeria (CBN) has instructed banks to complete a mandatory cybersecurity self-assessment within three weeks

    CBN orders banks to complete cybersecurity self-assessment

    Plateau State residents were thrown into mourning and shock on Tuesday following the discovery of a woman’s corpse in a river in the Bukuru Lowcost community in the Jos South Local Government Area of the state.

    Plateau woman’s corpse found in river raises fears of reprisal murder

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    Peter Obi has expressed condolences to former Kaduna State governor Mallam Nasir El-Rufai on the death of his mother, Hajiya Umma El-Rufai.

    ICPC takes El-Rufai into custody after bail hearing

    April 1, 2026
    Chaos broke out in Jos, the Plateau State capital, on Wednesday, following the relaxation of the 48-hour curfew by the state government.

    Chaos in Jos after relaxation of 48-hour curfew

    April 1, 2026
    Peter Obi has expressed condolences to former Kaduna State governor Mallam Nasir El-Rufai on the death of his mother, Hajiya Umma El-Rufai.

    El-Rufai gets court ruling on bail application today

    April 1, 2026
    Three ministers quit as Tinubu enforces Electoral Act

    Three ministers resign as Tinubu enforces Electoral Act

    April 1, 2026
    The Central Bank of Nigeria (CBN) has instructed banks to complete a mandatory cybersecurity self-assessment within three weeks

    CBN orders banks to complete cybersecurity self-assessment

    April 1, 2026
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