TelexFree – $691 Million Revenue In 2013
The USA TelexFree LLC branch of the TelexFree enterprise posted more than $691 million in total income last year, according to a filing with the Alabama Public Service Commission.
The documents reveals the owners: Carlos Costa 30%, Carlos N. Wanzeler 50 % and CEO James M. Merrill 20%.
In its Alabama filings, TelexFree LLC asserted it incurred expenses last year of “$572 million in a category dubbed “Agent Commission – paid through system.
It also incurred expenses of $50 million in a category dubbed “Agent Commission – paid through bank.”
Other line-item expenses are listed in the document, which says the firm’s “net income” last year was more than $36.4 million.
The Alabama filing did not cover TelexFree LLC revenue and expenses year-to-date in 2014. Nor did it cover revenue and expenses for 2012 or revenue and expenses for related TelexFree enterprises.
Some affiliates have said they believe TelexFree has gathered $1 billion or more since its inception in early 2012.
Source: Patrick Pretty