17 April 2014

iPayout Disables Services for TelexFree eWallet


Do not invest. This has been proven to be scam! Read this article!!
Late yesterday and early hours of today, several affiliates noticed that they could no longer access the TelexFree subdomain on the iPayout "GlobaleWallet" server, which is normally accessed by typing the address telexfree.globalewallet.com into the browser address bar.

Something had gone terribly wrong.

Typing in the address was initially noticed to be timing out, but this morning it began to return a 404 error message with an accompanying message that "you have typed an invalid address...Please check address spelling and try again. Also you can contact your merchant or back office for a correct web address." See image below.

Typing in the TelexFree subdomain address returned a 404 error message
Right on the heel of this, news began to spread that "...iPayout, upon warning by Massachusetts Attorney General, has apparently pulled the plug on TelexFree's eWallet."

Yes, you heard that right. TelexFree’s payment processor, iPayout, had 'pulled the plug' on its eWallet services to the company.

Right now, however, efforts to access the subdomain at iPayout is currently returning a message that "eWallaet website has been disabled for your merchant's program." See image below:

Accessing Telexfree subdomain at iPayout returns a message that "eWallaet website has been disabled for your merchant's program."

It is interesting to note that United States federal agents from the Federal Bureau of Investigation, FBI, and Homeland Security had before now swooped down and raided Telexfree's headquarters at Marlborough due to ongoing investigations following a charge against Telexfree for being a pyramid and ponzi scheme..

As at the time of publishing this post, it is not yet clear whether any federal or legal action will be taken against iPayout in its role as Telexfree's official payment processor. Records show that NxPay, the payment processor for Zeek Rewards, was effectively shut down as the company's funds got frozen, after SEC shut down Zeek Rewards.


  1. The TF bad news just keeps coming...The question that I have: Why it took the Massachusetts Attorney months to shut it down? I'm sure they knew from day one that it was a Ponzi..

    1. UserAN, i'm not a lawyer but i think there are processes that must be followed before agencies swoop in to arrest or shut down companies. These processes enable the gathering of facts to be used in court.

      Telexfree would have been operating till today if they did not file for bankruptcy protection. Infact, the SEC had told Massachusetts to stand down till they finished their own investigation which would have taken months. If the bankruptcy application had succeeded, Telexfree would have walked away free.

      I believe they knew but was gathering information and evidence against Telexfree with which to prosecute them.