Articles under ‘Traffic Monsoon’:

Traffic Monsoon Receiver seeks to file amicus brief in appeal case

With both Charles Scoville’s and the SEC’s briefs filed in the Traffic Monsoon appeal case, Scoville now has the option of filing a reply brief. On October 20th Scoville requested an extension of time to file his reply, which was granted later the same day. The court gave Scoville until November 13th to file his [Continue reading…]

Receiver decides Traffic Monsoon victims will not file written claims (updates)

A common trait of multi-million dollar Ponzi schemes is a lack of independent accounting on the backend. Records are stored higgledy-piggledy and often riddled with errors and/or incomplete. Traffic Monsoon is no exception, with the Receivership currently sifting through millions of transaction records in an attempt to forensically piece together the business. While circumstances might change [Continue reading…]

Scoville’s new business to use bitcoin and be “outside the USA”

Charles Scoville is currently at the center of regulatory action against the Traffic Monsoon Ponzi scheme. After the granting of a preliminary injunction against Traffic Monsoon, based on the likelihood of the SEC winning at trial, Scoville filed an appeal. The appeal is still playing out in court, with a decision expected to be many [Continue reading…]

PayPal sued for facilitating Traffic Monsoon Ponzi fraud

Known throughout the MLM underbelly for it’s prohibition of Ponzi and pyramid schemes, PayPal nonetheless still pops up as a payment processor for various schemes. The problem with PayPal’s current fraud detection mechanisms is that, by the time it’s detected, the damage has already been done or PayPal quietly freeze the account. No information is [Continue reading…]

Traffic Monsoon Receivership to continue during appeal

Following the filing of an appeal by Charles Scoville, there’s been some uncertainty as to the status of the court-appointed Receivership. In particular, whether or not recovery efforts would continue while the appeal was being decided on. While distribution payments might not be possible pending the outcome of the appeal, the good news is the Traffic [Continue reading…]

Charles Scoville files Traffic Monsoon Ponzi decision appeal

Seems kind of pointless claiming a company that solicited $50 investments on the promise of a $55 ROI wasn’t an investment scheme, but if the alternative is admitting you conned thousands of people out of millions of dollars – here we are. On April 14th Charles Scoville filed an interlocutory appeal against the recent granting of [Continue reading…]

Traffic Monsoon investor claims he can put Scoville away “for life”

In the aftermath of the preliminary injunction granted against Traffic Monsoon and owner Charles Scoville, donations to Scoville’s legal fund appear to have tanked. As per the “Scoville Legal Defense Fund” website, $1520 has been donated as of March 31, 2017. Legal costs for February, 2017 were $4840. Legal costs for March have not been disclosed. [Continue reading…]

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…]