Charles Scoville didn’t maintain Traffic Monsoon financial records
A common theme in Charles Scoville’s lengthy Facebook rants about the SEC, is that Traffic Monsoon had enough money to pay off investors.
What most affiliates haven’t realized is that Scoville isn’t talking about the total $55 ROI offered, but rather the partial ROI amounts shown in their backoffices.
Payment of this amount would leave the majority of Traffic Monsoon affiliates with a loss (with respect to how much they initially invested).
What makes Scoville’s claims even more questionable now, is the revelation that neither he nor Traffic Monsoon maintained any financial records with respect to the business.
The claim was made by the court-appointed Receiver, who is seeking to engage Berkeley Research Group as accountants for the Receivership.
According to the Receiver, Charles Scoville has informed the Receivership ‘that no financial records were maintained‘.
From the Receiver’s filing, it appears she also expects to be chasing down funds offshore.
To this end the Receiver explains why she chose Berkeley Research Group in particular;
While the Receiver believes that the majority of forensic accounting work will be done by BRG professionals located in Salt Lake City, Utah, she has chosen BRG as her accountants, in part, because BRG is an international consulting firm.
The Receiver believes, based on her investigation to date, that access to BRG international professionals will be beneficial and will aid the Receiver in maximizing the assets and value of the Receivership Estate.
I suspect over the coming months I’ll be reporting on attempts by the Receiver to recover funds squirreled away in offshore bank accounts and/or trust funds.
The Receiver’s motion was filed on August 31st and is currently awaiting a decision.
Stay tuned…
Update 7th September 2016 – In a September 6th order Judge Parrish has granted the Receiver’s request to engage Berkeley Research Group as forensic accountants.
one of the greatest line ever during the May SEC interview when asked about the seized paypal funds:
wonder how scoville’s die hard supporters like sunil patel and sharon james will have to say to this.
sunil patel who announced that he would keep holding ‘revolution days’ one after the other, and would not give up till his last breath, and that he was willing to testify for TM in the utah court, has finally got a chance to prove his passion.
scoville has invited his supporters to attend the preliminary injunction hearing on sept 23rd in utah and testify about the genuineness of the TM advertising business:
seeing the piss poor support for scoville, as reflected in very poor collections in the gofundme campaign and the meager turnout on patel’s ‘revolution day’, i’m estimating that 0 [zero] affiliates will go to utah to confront the SEC.
except of course, Sunil Patel. he’s definitely going. no??
Well that’s exactly how I expect a multi-million dollar business to operate after all.
I meant ‘multi-million dollar PONZI”, sorry. It’s really easy to get those two things mixed up.
And @Anjali – GOOD. I hope Churchill Patel keeps ‘revolutionizing’ away over there. At this rate, he and whatever lacklustre turn out of supporters he has there will all collectively have an omelette the size of a small blue whale on their faces when this all blows up in glorious fashion on the 23rd Sept. That’s a week before my birthday too.
To the judge and jury presiding over Scovillain’s case, I say give me my birthday present early please and throw Charles under the damn prison where he can rot away for the rest of his pathetic existence.
Aren’t 1 and 3 basically the same?
Not sure what any of that would help demonstrate anyway. Since there doesn’t need to be any claim that there was no value whatsoever in the service tacked on the side.
Scoville’s statement to the sec already lays out that you could buy all the ad stuff for less than a quarter of the adpack price. That buy in to profit share is pretty damning.
Point 2 is a good one, it’s always been well known that you get some “winners” and some losers. Going in to declare yourself to be as a winner seems to just be inviting a clawback action later.
So what do you do if you are a net winner, appear in court and admit it producing records to prove it, or hope the records were so poor the receiver won’t be able to work out you were a net winner?
So they show up to say they earned from monsoon ads or from the revshare?
Yet in the end what will it really prove?
A few net winners show up to say they earned, what of the others that did not? Plus a guy like Similar does not want his “investment” back he wants his profits released.
Did he need $4500 in ads or advertising services was it really about that to him when he planned his spend?
So let them go through the motions to drive the nail deep that this was and is every bit a ponzi just from their words and actions.
No records so it was a free for all cash grab money swap. Long as funds kept coming in he could shuffle and pay whoever.
How well does he look now its really professional how he ran this “business”. I think using PayPal was his breakthrough!
His actions with it speak volumes.
so, things get weirder.
a police officer from manchester, UK, has recorded a video saying that what the SEC has done with TM is ‘criminal’ and he wants the business back.
his name is kris vora [that’s what it sounded like] and he says he went through his top bosses before joining TM, so that they could see he was working with a ‘viable, trustworthy and real’ company in his spare time.
somebody needs to forward this video to whichever police department in greater manchester this fellow works for. if police officers participate in ponzi schemes proudly and publicly, how secure are citizens under their watch?
youtube.com/watch?v=WgJ8Oc-Ept4&app=desktop
Important distinction, the guy works for the police.
He could technically be a janitor.
Anyway, goes on about joining because of traffic… and then 2 second later declares Traffic Monsoon the “best online business in terms of revenue share”.
These guys are all full of shit, every single one of them.
at one point he says ‘one of their officers’ so i’m thinking he’s a police officer.
meanwhile sunil patel seems to have gone quiet after trying to pretend his ‘revolution day’ was a smashing success.
maybe he’s packing his bags and practicing the speech he will give in the hearing in utah in september.
which song do you think he’ll play in court?
If he is an officer then he’s representing the Manchester police force in that video.
I don’t expect a street cop to know the ins and outs of securities fraud, but surely there’s an SEC equivalent in the UK (that Vora obviously hasn’t approached).
If he was an actual officer, I’d have imagined he’d have gone internally and been explained to why Traffic Monsoon was a Ponzi scheme. Legit police officers posting YouTube videos to defend Ponzi schemes is a new one for me.
Action Fraud is the cyber crime reporting center in the UK.
for what it’s worth i registered a complaint on crimestoppers-uk.org which is a portal for making complaints anonymously.
charles scoville just posted this message on FB:
yeah on sept 23rd all of scoville’s ‘friends’ will turn up in court to testify for his business in TM, and he will be able to count them ….how will he count to zero ?
There’s enough ditzy middle-aged people posting about Traffic Monsoon on Facebook. I’m sure a few will rock up with homemade banners and what not.
traffic monsooners from the US seem awfully quiet. i guess it’s easy to try to stare down the SEC and court from across the ocean, which is why a few TM affiliates from poland to pakistan are telling the SEC [via photos and videos] that they are not investors and that the SEC should buzz off.
how many of them will pay airfare and boarding costs to go to utah and testify? talk is cheap, none of these pretzels has the stomach to actually go to utah and stand in court for scoville, their ‘love and support’ is restricted to social media.
I like my popcorn with extra butter. Large. For September 23rd I may just order 3 large popcorns with extra butter.
I’ll be letting it run down my arm as the verdict is read.
Isn’t that tax evasion or fiscal offence?? Another suit pending?
he certainly filed a false tax return then.
Its probable that Scoville never filed tax returns for the business or for himself. This is very common as filing often leads to detection of a scheme.
Rather than file, extensions are requested or the obligation to file is ignored entirely. . Doing this is evasive of course and the money penalties for failure to pay or file on time are astronomical but none of this seems to matter in the mind of a scammer.
If Scoville kept no financial records it demonstrates utter contempt for everyone but his cronies and himself.
Lock him up.
Once it sinks in that there were no financial records kept by the company… presumably none.
Not even a slobbering idiot could believe this company had any substance.
The financial records will be in the Bank, STP and Payza accounts surely.
Well yes transaction histories will be there. Whether that reflects they full scope of TM’s activity is to be determined.
I never knew what was actually the purpose of this blog.. but (Ozedit: it’s right there in the title: MLM news, blog commentary and reviews. Offtopic derail attempts removed.)
o well, seems scoville may be able to count the fingers of one hand at least!
so far, i have evidence of three affiliates who are planning to attend the injunction hearing to sock it to the SEC:
let’s see if any ahem, ‘unfortunate circumstances’ ‘sudden illnesses’ etc prevent any of the above from going to utah on the 23rd.
sunil patel has already bowed out, citing a ‘death’ in his family due to which he will be offline for 30 days.
that was smoooooth sunil patel!! nothing like hiding behind a death to renege on your ‘promises’! mourning for 30 days, really!? so, we can safely say patel has ‘chickened’ out. chickchickchick Chicken!!
funnier though, are the comments under bryant’s FB post announcing that he is going to attend the court hearing:
the SEC will be quaking in their boots since bryant is heading their way! i mean, how can they possibly defend themselves against bryant’s long ‘wordy’ ‘legal’ arguments? how can you fight something you don’t even understand!? the SEC will go – huh? eh? yeah? – and the judge will think they ceded to bryant!!
hmmmm
on sept 1st william bryant posted:
this^^^ post attracted 167 ‘likes’ and just under 50 comments.
just one day before on aug 31st, he shared the link to his gofundme campaign where he is collecting funds for TM’s legal battle.
this post attracted 17 ‘likes’ and no comments.
in almost a month his campaign has raised only some $3800.
it seems that all the affiliates screaming their support for TM and the 23rd court hearing are merely paper, er internet ‘tigers’.
I’ve seen this type of thing go down before. If there is enough public interest the judge may allow one or two non-parties to say a FEW (very brief) words for the record but if Mr. Bryant expects to have a discussion or present an argument he will be sorely disappointed. He’ll be cut off before he’s even begun.
c’mon mr hoss, this is THE ‘william bryant of facebook’ we’re discussing here, not some piddly diddly sunil patel who ran away when the heat got hot.
in fact, in preparation for william bryants utah visit, the SEC is doing some heavy duty preparations. all SEC lawyers are presently attending a special college class where they have to decipher wiliam bryant’s facebook lectures through intense study. this is serious stuff y’know!
who all top this special course will form the SEC team which will head to utah for a face-to-face with THE william bryant of facebook. every bloody SEC lawyer wants to be the ‘chosen one’ as this will be their careers best, and there’s some intense competition going on!
this is serious stuff mr hoss!
youtube.com/watch?v=psWV9GdEgzo
Oh! THAT William Bryant. The one they call “The SEC Killer?” In that case the Complainant might as well file for a dismissal and avoid embarrassment.
Clear the courtroom. Clear the halls. Add extra security. THE “Facebook legend” cometh.
What school was that filmed at. I think I saw a Kristina Kaif film with the same backdrops.
mostly filmed at the kasiga school, dehradun. dehradun is a college/school town in northern india.
Noice.
now charles scumville has posted a video on his FB page from a polish TM affiliate, which shows that his websites and blogs actually received traffic from the TM adpack product.
these people seem to keep missing the point. it does not matter if the adpacks had ‘some’ value. the problem is that the ‘source’ of revenue in TM is the affiliates themselves, who signed up for the profit share [and purportedly for the ‘advertising service’].
if scoville and TM affiliates are so confident about the products value, maybe the judge will allow scoville to keep selling the adpacks without the revenue share? then these loyal adpack service affiliate buyers can keep buying this great product to help their business!
even burnlounge [FTC vs burnlounge] was allowed by the federal court to sell its music ‘product’ to users, but without any payment of commissions. yeah, so burnlounge crashed, because without the commissions seems nobody was interested in the ‘product’.
i actually hope that the court allows scoville to keep selling his ‘adpacks’ at only retail, just so that the misconception about it’s ‘value’ can be cleared once and for all.
thanks for the new word 🙂
jail the prick!
with sunil patel unable to put his money where his mouth is, and slinking away in a cowardly fashion, sharon james is beating the TM drum confidently announcing:
unfortunately she does not reveal the nature of this ‘truth’ which is pending reveal-ment.
and confidence of happy TM ‘revolutionaries’ is generally high because:
‘secret’ truths and dreams – now who can fight that!
I am just surprised that anyone is surprised that Charles didn’t have any financial records. It’s a surprise when they do. Keeping records leads to more charges.
By making the Receiver re-construct the financials takes time, and the hope is the Receiver will not be able to recreate everything, and thus they might avoid a few charges.
I think one of the reasons why Sunil is doing this is because he could not get a Visa to come to the US due to his criminal conviction, and didn’t want the TM members to know about them.
After all his bluster to have to announce he couldn’t get a Visa hurts him far more than a death in the family taking him offline for 30 days. I do believe he had a death in the family, I am not buying his needing 30 days to mourn, unless this is part of his religion; that is if he has a religious belief.
As for all the others going to testify is a waste of time. William Bryant has this all sewed up for Charles. Once he shows the SEC his FB timeline, it proves TM was not a Ponzi. Case won for Charles.
What is going to be interesting will be the “excuses,” charges of the SEC “rigging” the case so they would win, and all the other conspiracy theories as to why they didn’t win or get to do a lengthy testimony on behalf of Charles.
All the deflated ego’s will be most entertaining to watch. Now that is going to require a case of popcorn, a super, super, super big drink and a comfortable lounge chair to enjoy it all.
And just think it is only 3 weeks away when all the fun really starts. So stock up now or there won’t be enough popcorn to go around when you need it most.
It’ll be alright on the night… as long as the Lawyers are paid first…
Update: Berkeley Research Group have been approved to work as forensic accountants for the Receiver.
sunil patel is of indian descent and if he is still a practicing hindu then mourning lasts 12 or 13 days. this is when an immediate family member passes away [parent/sibling etc]. if it is not an immediate family member then mourning lasts 3 or 4 days.
so, 30 days of mourning seems to a personal choice of sunil patel and not related to religious practices. i see it as an excuse to wiggle out of this leadership role he had assumed for TM.
a few days back sharon james had announced that she would not be going to utah as she had to be somewhere else on the 23rd of september. here’s hoping she doesn’t change her mind again!
i think that if TM affiliates represent to the court that the adpacks were really increasing traffic to their personal businesses, the court will allow scoville to continue selling the adpacks without the income opportunity.
TM’s sales will crash through the floor and bolster the SEC’s case that TM was nothing more than a ponzi scheme.
so, these affiliates are going to inadvertently help the SEC and bury TM with their ‘support’.
It’s not unreasonable to expect that most, if not all, of the “personal businesses” will be cookie cutter generated pages advertising other fraudulent schemes and/or “make money online” frauducts, etc., so this could be quite funny.
It would be interesting to know how many adpack purchasers didn’t even bother to add their own web page or, if Charles had an enforced rule that they must advertise a page, added one that had no relation to their own purported “business”, e.g., the Fox news site.
I’m sure any interested party with the TM database in hand could dig out this information.
not surprisingly this ^^ video has been removed from the net.