Scoville loses control of Traffic Monsoon, Receiver appointed

traffic-monsoon-logoContradicting Charles Scoville’s insistance that he’s negotiating directly with the SEC and that everything is fine, yesterday the regulator filed an ex-parte motion requesting the appointment of a Receiver.

The SEC’s motion, filed on July 27th, reaffirms the regulator’s stance that Traffic Monsoon is a Ponzi scheme. [Continue reading…]

SEC reaffirms adcredit opportunities are illegal Ponzi schemes

SEC-logoProponents of adcredit “revenue sharing” would have you believe that the act of attaching advertising credits to a fraudulent investment scheme somehow legitimizes it.

The core take-away from the SEC’s shutdown of Traffic Monsoon yesterday is that this is complete nonsense.

For those unfamiliar with the adcredit business model, a business opportunity will typically have affiliates invest in adpacks or a similarly named vehicle. [Continue reading…]

OneCoin threaten to sue YouTube over account termination

onecoin-logoOneCoin aren’t happy about YouTube terminating their OneLife account, and have threatened to take “legal action” against the company. [Continue reading…]

Global Smart International Review: Global Smart Ads Ponzi launch

global-smart-international-logoFrom what I can gather, Global Smart International initially launched on or around 2009.

The company initially marketed health and wellness products, with a reboot complete with new prelaunch phase announced recently.

Heading up Global Smart International is CEO and President, Ken Mackovic (below right).

ken-mackovic-ceo-president-global-smart-internationalAccording to Mackovic’s Global Smart International corporate bio;

Ken has more than 40 years worth of experience as an Owner or Master Distributor of several network marketing & direct sales companies, and has developed international sales and marketing teams of more than 250,000 independent distributors.

In the 1970’s, Ken became the youngest Diamond Direct distributor with ‘Amway’ (aka Quixstar International), and had more than 10,000 distributors in his downline.

In the 1980’s, Ken founded ‘Olde Worlde Products’, a small-scale Amway type MLM company. His company had 125,000 distributors who produced more than $100 million in sales, and operated in 5 countries over an 8 year period.

Olde Worlde Products is still active today under a different name with new owners, as a private label manufacturer (non MLM).

In the 1990’s, Ken helped re-launch ‘Pre-Paid Legal Services’ under the name of LegalShield and became an Executive Director before liquidating his assets. He organized and developed well over 24,000 associates in his downline.

In 2004, Ken co-founded ‘NexagenUSA’, an international MLM company with 80,000+ Distributors operating in 9 countries with over $80 million in sales. Ken resigned and sold his interest with NexagenUSA in 2005.

Ken has personally earned over $20 million in this industry. He has also mentored some of the top income earners of all time, such as: Dexter Yager (Amway), Dave Savula (LegalShield), and others that have gone on to make multiple millions of dollars!

In fact, he has directly helped nearly 50 people make a million dollars due to their direct association with him, and hundreds more make six-figure incomes.

Read on for a full review of the Global Smart International MLM opportunity. [Continue reading…]

Charles Scoville vows to fight Traffic Monsoon Ponzi case

traffic-monsoon-logoIn the wake of the SEC’s allegation that Traffic Monsoon is a $207 million dollar Ponzi scheme, owner Charles Scoville has publicly responded to the allegations.

In a Facebook post published about an hour ago, Scoville claimed he’s going to ‘stand up against (the SEC’s) claims in a court of law.[Continue reading…]

SEC shutdown of Traffic Monsoon: The Facts

traffic-monsoon-logoFollowing the announcement of a TRO granted against Charles Scoville and his Traffic Monsoon Ponzi scam, we now take a look at the details behind the granting of the TRO.

The SEC’s filed memorandum accompanying their motion for a TRO is thirty-one pages long. I’ve broken down points of interest from the filing into relevant subheadings below. [Continue reading…]

MMM Asia Ponzi scheme busted by Indian CID

mmm-global-logoMMM Asia is an offshoot of the MMM Global Ponzi scheme. Like MMM Global, MMM Asia promises investors 100% a month ROI on bitcoin investments.

Through a centrally-managed cash gifting scheme, MMM Asia tracks newly invested funds which are used to pay off existing investors.

MMM Global ran out of newly invested funds and collapsed earlier this year. Smaller local chapters of the Ponzi scheme in South Africa and elsewhere have since also collapsed.

MMM Asia appears to be one of those chapters, with police in Bengal receiving recently filed complaints from investors. [Continue reading…]

SEC claim Traffic Monsoon is a $207 million dollar Ponzi scheme

traffic-monsoon-logoTraffic Monsoon was a HYIP that promised affiliates a $55 ROI on a $50 investment. Traffic Monsoon investors were also paid to recruit new investors.

Launched by Charles Scoville in 2014, Traffic Monsoon is estimated to have scammed around 145,000 investors out of $207 million dollars.

Yesterday the SEC moved to shut Traffic Monsoon down and freeze Scoville’s assets. [Continue reading…]

FTC: Xango has a “Vemma-like marketing program” (Tom Alkazin)

vemma-logoThe battle between the FTC and Tom Alkazin continues, with the latest filing from the FTC seeing Xango dragged into the feud.

After the FTC shut down Vemma for being a pyramid scheme last year, Alkazin went on to join Xango.

Commenting on a response filing by the FTC yesterday, BehindMLM pointed out incidental similarities between Xango and Vemma’s compensation plans.

BehindMLM reviewed Xango in 2013 and identified, among other things, a focus on affiliate autoship recruitment.

The same issue was a major consideration in the FTC’s shutdown of Vemma.

In their response filing the FTC claimed that if Alkazin was not subject to a preliminary injunction, that he would engage in “deceptive income claims and pyramid marketing” with “a different (MLM) company”.

Alkazin appears to have since left Xango, however the reason for his departure is unclear.

A new motion by the FTC now asks for permission to file additional evidence against Alkazin, pertaining to his brief time at Xango. [Continue reading…]

James Merrill no longer under curfew and monitoring

telexfree-logoLast week James Merrill’s probation officer recommend the current curfew and monitoring in place be removed.

Since the restrictions were imposed two years ago, Merrill has only violated his curfew once in a minor incident he accepted full responsibility for. [Continue reading…]

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