ED Magedson – Founder
Oscar Alvarez211 Franklin Street Elizabeth, New Jersey USA
Oscar Alvarez TelexFree Team Builder Oscar Alvarez is a Multi Level Marketing Scam Artist Elizabeth New Jersey
I am writing this report to warn anyone to be careful of doing any kind of business with Oscar Alvarez, TelexFree Team Builder from Elizabeth, NJ. I am also warning anyone to be careful with doing business with any TelexFree representative or any other business associated with TelexFree.
In February of 2014 I was recruited by Oscar Alvarez for an opportunity to make money with this company called TelexFree. Oscar is a Team Builder and a top leader of TelexFree in NJ. He told me that I can earn $400 a month by placing ads everyday on the Internet and by veryfing the ads everyday. As long as I did this, he told me I would earn $100 a week for 1 year.
The franchise would cost me $1,425 for 1 year. The contract was a legal contract between myself and TelexFree. The company would honor this agreement and pay me $400 a month for 1 year. This means I would earn $5,200 for the year, as long as I placed the ads every day and verified them. [continued below]....
Furthermore, I visited the company's website: telexfree.com and I read the FAQ's and Terms and Conditions of the contract. Everything stated the contract was binding between TelexFree and the promoter. So to make a long story short, I joined TelexFree and paid Oscar $1,425 and he gave me a reciept. The next few weeks I began earning my $100 a week, as I did my ads and verified them.
Then, suddenly, a few weeks after I joined (March of 2014), I get the bad news that TelexFree will no longer honor my contract. Supposedly, the company changed the compensation plan and now the new plan states that I will not get paid unless I recruit 5 people. Suddenly, the legal contract that I entered with TelexFree in February of 2014 was broken by TelexFree.
But that's not all. A few weeks later (April of 2014) TelexFree files for bankruptcy. Appartently the company is broke. While all this is happening, I ask Oscar what is going on and he denies anything is wrong with the company. In fact, he tries to convince me to invest more money in the company. However, on the news I kept seeing everyday about the growing troubles TelexFree was facing worldwide. While all this happens, Oscar Alvarez continues to deny any trouble and in fact tells me they will pay me my investment back.
Now on April 16, 2014 it gets worse. Federal Agents raid TelexFree headquarters in Massachusetts and the SEC issues charges against Telexfree and it's leaders. Apparently asset siezures begin. Not only that, TelexFree's website has been shutdown also. I had $300 in earnings in my TelexFree office before TelexFree filed for bankruptcy. TelexFree's CEO James Merrill also resigned.
So far I have not made 1 penny with TelexFree and I never got anything from them. I invested $1,425 and lost it all. This is not fair. I worked hard for this money and it's not fair that these con artists can steal it without any justice. I am in the process of contacting a lawyer so I can sue all the individuals who are responsible for running this scam. All the leaders of TelexFree should be charged with running a scam and any money siezed hopefully will be given to the victims.
This is why I wrote this warning. Most likely I will not recover my money. But I want to warn anyone of doing business with Oscar Alvarez who is a dishonest person who is responsible for ripping off many people in the Elizabeth, NJ area. I am not the only one who lost money to this scammer. Oscar is also involved in other Multi Level Marketing Scams. Please be aware. And also be aware of the other con artists who where or still are the leaders of TelexFree: James Merrill, Carlos Costa, Sann Rodrigues and Steve Labriola.
This report was posted on Ripoff Report on 04/17/2014 01:06 PM and is a permanent record located here: http://www.ripoffreport.com/reports/oscar-alvarez/elizabeth-new-jersey-07206/oscar-alvarez-telexfree-team-builder-oscar-alvarez-is-a-multi-level-marketing-scam-artist-1139686. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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