Articles under ‘Traffic Monsoon’:

Charles Scoville fancies himself as the next Mark Cuban

In the aftermath of Traffic Monsoon being declared a Ponzi scheme by a US Court, the most prominent rhetoric to emerge has been comparisons to Mark Cuban’s SEC case. These efforts have been spear-headed by Charles Scoville, in what appears to be the latest attempt to string his victims along.

Traffic Monsoon is a Ponzi scheme, preliminary injunction granted

Last July the SEC shut down Traffic Monsoon on the basis it was a Ponzi scheme. Rather than admit he’d stolen millions of dollars through Ponzi fraud and settle, Scoville vowed to defend the case. This saw all manner of nonsensical defenses raised. With the TRO set to expire, in November a preliminary injunction hearing was held. It’s [Continue reading…]

Scoville reveals Ernie Ganz keeping Traffic Hurricane Ponzi funds

Relationships between scammers are fickle at best. Throw in a bit of Ponzi greed, potentially millions of dollars and a list of people who’ve bought into math-breaking ROI lie, and all bets are off. As a result of the SEC lawsuit against Traffic Monsoon last year, owner Charles Scoville had his assets frozen. Rather than [Continue reading…]

Ponzi frustration? Jose Nunes bashes girlfriend in front of daughter

It takes a certain type of character to front online Ponzi schemes that rip people off for millions of dollars each year. Sadly it comes as little surprise to learn one of Traffic Monsoon’s prolific cheerleaders has a history of domestic violence.

Traffic Monsoon TRO extended until preliminary injunction decision

Following one or more hearings on the SEC’s Motion for a Preliminary Injunction, Judge Parrish has extended the previously granted Temporary Restraining Order until further notice.

Traffic Monsoon Receiver files revealing declarations

Nothing yet official from the Traffic Monsoon preliminary injunction hearing. We’re monitoring the hearing and will publish an article as soon as we hear something (the hearing is ongoing as I type this). In the meantime, yesterday the Traffic Monsoon Receiver filed two revealing declarations in court. They pertain to Traffic Monsoon’s inner business operations and [Continue reading…]

Sunil Patel promotes new Ponzi on eve of Traffic Monsoon hearing

Sunil Patel has appointed himself somewhat of an ambassador for Traffic Monsoon investors. Specifically, Traffic Monsoon investors who believe Ponzi schemes should be legal. In response to the SEC shutting down Traffic Monsoon in July, Patel threatened to sue the SEC. He also offered to fly to the US and personally testify in court. After [Continue reading…]

“A rose will always be a rose, because it is a rose” (Traffic Monsoon)

One of the key points of contention at the upcoming preliminary injunction hearing, is whether Charles Scoville’s pseudo-compliance will hold up in court. Scoville represents Traffic Monsoon’s Ad Packs were not securities because he never used the word “investment” on the Traffic Monsoon website. Traffic Monsoon affiliates referenced the opportunity as an investment scheme, however [Continue reading…]

SEC: Traffic Monsoon does not have sufficient funds to repay investors

In what shouldn’t come as a surprise to anyone, the SEC have revealed, contrary to Charles Scoville’s representations, that Traffic Monsoon cannot repay its investors.

SEC: Scoville’s arguments are “without merit” & “legally meaningless”

In addition to the periodic pro-Ponzi rants Scoville has been publishing on Facebook, a few weeks ago Scoville filed an opposition to the SEC’s requested preliminary injunction. The SEC have filed their reply, claiming Scoville’s arguments are “without merit” and “legally meaningless”.