According to NewTimes of Rwanda, TelexFree members there are in a panic when they learned that TelexFree (US) have declared bankruptcy. They are petitioning the government to talk to to the US Embassy Commercial liaison about recovering their money.
The problem here is TelexFree has no Rwanda presence, according to TelexFree itself. It claimed that "it [Rwanda declaring TelexFree to be a fraud] has nothing to do with us [TelexFree]"
This is a common tactic by fraudulent companies: "encourage" local member to register a company in the name of the "parent" company. If it's good, claim it's a new branch. If it's NOT good, it'd be like Mission Impossible... We will disavow any and all of your action.
Which is exactly what happened.
Now Rwandans who put in money are royally f***ed.
![Enhanced by Zemanta]()
The problem here is TelexFree has no Rwanda presence, according to TelexFree itself. It claimed that "it [Rwanda declaring TelexFree to be a fraud] has nothing to do with us [TelexFree]"
This is a common tactic by fraudulent companies: "encourage" local member to register a company in the name of the "parent" company. If it's good, claim it's a new branch. If it's NOT good, it'd be like Mission Impossible... We will disavow any and all of your action.
Which is exactly what happened.
Now Rwandans who put in money are royally f***ed.
