Westborough, Mass. — Authorities earlier this month discovered $20 million in cash stashed in a box spring in a Massachusetts apartment, ABC News reported.
Authorities believe the money is linked to a $1 billion pyramid scheme involving TelexFree, a company headquartered in Massachusetts, that claimed to provide Internet phone services. It allegedly was a pyramid scheme that operated between January 2012 and March 2014.
Authorities discovered the cash when they raided the apartment of Cleber Rene Rizerio Rocha, 28, in Westborough, Mass. He was charged with one count of conspiring to commit money laundering.
TelexFree had few customers and made most of its revenue from people buying into the company with a promise of payouts for posting online ads for it. They were paid with money from new recruits, often friends and family of earlier investors.