$20 million in cash found under the bed
The US Attorney's Office released a photo on January 23 showing $20 million in cash hidden under a mattress in an apartment in Massachusetts.
According to ABC News, this $20 million in cash is believed to be related to a “pyramid scheme” worth more than $1 billion by TelexFree, a Massachusetts-based company that provides Internet phone services.
US authorities said the above "pyramid project" operated from January 2012 to March 2014.
“TelexFree intended to promote VOIP (voice over internet protocol) by recruiting thousands of sponsors to place product advertisements on the Internet,” the US Department of Justice said.
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$20 million in cash was found hidden under a mattress in an apartment in Massachusetts, USA. Photo: Twitter |
Sponsors are required to purchase the company's services at a specific price. They are then compensated by TelexFree. The compensation structure is complex and occurs weekly as long as they advertise TelexFree VoIP services on the Internet.
The $20 million in cash was discovered earlier this month when police searched the Westborough apartment of Cleber Rene Rizerio Rocha, 28. He was arrested and charged with conspiracy to commit money laundering.
In 2013, TelexFree reported sales of about $1.02 billion, most of which came from buyers involved in a “pyramid scheme,” U.S. officials said.
According to PLO
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