Rwanda has banned the operations of online service, Telexfree P.L.I after an investigation concluded that it’s activities are bent on facilitating money laundering.
Richard Kabonero, Uganda’s ambassador to Rwanda revealed this Monday evening on social media site twitter accompanied with an announcement by the Rwandan government advising it’s nationals to stay away from Telexfree activities.
He also advised Uganda to do the same.
“Rwanda bans Telexfree operations.Uganda needs to look into this to protect the public.” Kabonero tweeted.
Telexfree is a trade name owned by Telexfree Inc, that became best known for its operations in Brazil held by Ympactus Comercial Ltda after it was involved in an ongoing investigation for allegedly operating a Ponzi scheme.
The Brazilian court of Acre State suspended the company’s operations in that country.
TelexFREE is a multi-level Internet marketing scheme which uses VoIP technology to share advertisements online.
The Telexfree frenzy has hit Uganda in the recent months with many people attracted to the simplicity of it’s work that enables one to post a given number of links to website that in turn earns one a given income depending on the subscription. One is promised revenue by daily posting the adverts the company will give you.
It claims that by recruiting new members, one stands to earn bonuses.
It’s critics argue that while Telexfree claims it uses the selling of chunk voip services, as a camouflage / disguise, their real core business is new enrollments, associates, affiliates and ‘victims’.