Articles Posted in Fidelity Bank

While state and federal prosecutors in Massachusetts have secured more than $150 million of the $1 billion raised by alleged investment fraud, known as “TelexFree”, victims’ claims for restitution have yet to be processed.  Authorities have said that these funds will not be available until the conclusion of the U.S.…

September 24, 2014 – Fidelity Bank in Fitchburg, Massachusetts, has agreed to pay  $3.5 million dollars to the Massachusetts Secretary of State’s Office to settle claims that it allegedly allowed TelexFree Inc. to open bank accounts, without properly screening the company.  TelexFree was an alleged investment fraud, which purported to…