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The Boston Globe

Business

TelexFree owners charged with fraud, conspiracy

A federal grand jury on Wednesday charged the owners of TelexFree Inc. with nine counts of wire fraud and conspiracy to commit wire fraud, alleging the two Massachusetts residents misled investors in a vast scheme to enrich themselves and others involved in the business.

James Merrill of Ashland and Carlos Wanzeler of Northborough knowingly devised “a scheme and artifice to defraud” in the alleged $1 billion global pyramid scheme, according to the indictment, filed in federal court in Boston.

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