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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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    The African Democratic Congress (ADC) reveals it is considering adopting a consensus approach in selecting its presidential candidate for the 2027 general election.

    ADC considers consensus option for 2027 presidential candidate

    March 30, 2026
    Iran to mark Eid al-Fitr tomorrow

    Iran executes two opposition members

    March 30, 2026
    UNIJOS

    UNIJOS cancels exams as gunmen kill many in Jos

    March 30, 2026
    US President Donald Trump confirmed on Thursday that US forces conducted deadly strikes against Islamic State terrorists in Northwestern Nigeria and vowed more attacks if the militants keep killing Christians.

    Trump claims Iran has undergone ‘regime change’

    March 30, 2026
    Police kill two bandits, foil attack on Oyo community

    OOU accuses police of shooting protesting students

    March 30, 2026
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