After just over two years of vowing to clear his name and prove Traffic Monsoon wasn’t a Ponzi scheme, Charles Scoville has entered into settlement negotiations with the SEC.
Articles under ‘Traffic Monsoon’:
News of the arrest of a Charles David Scoville in Utah broke last week. Given the severity of the charge, I held off on reporting the story until I had absolute confirmation it was Traffic Monsoon’s Charles Scoville. Following an unrelated June 18th filing by the Receiver, I can now confirm Charles Scoville, founder of [Continue reading…]
One of the assets attributed to Scoville’s use of Traffic Monsoon investor funds is a £290,000 flat and parking space in Manchester, UK. The use of investor funds to purchase the property in 2015 means the asset belongs to the Traffic Monsoon Receivership estate. The Receiver has keys to the property but was unable to file [Continue reading…]
About a week before oral arguments were heard in the original preliminary injunction appeal, Charles Scoville filed a second appeal. Following the filing of a motion requesting both appeals be merged or his second appeal stayed, it appears the plan is to further delay proceedings.
Charles Scoville has filed a second Traffic Monsoon appeal which, unless I’m missing something, seems to be completely pointless. Granted the first appeal is widely seen as just an attempt to delay the inevitable, it’s still valid in the sense a defendant can exhaust all defenses available. This second appeal doesn’t seem to serve any [Continue reading…]
The latest Traffic Monsoon Receiver’s quarterly report suggests that a victim claims portal might not be too far off.
Following a request for briefings on the duties and powers of the appointed Traffic Monsoon Receiver, an amended order has been filed.
Just a quick update on the Traffic Monsoon appeal, following arguments from both parties to be heard scheduled for March 21st. Both the SEC and Scoville have acknowledged the date, so barring any unforeseen events between now and then the hearing should take place.
Traffic Monsoon’s injunction appeal appears to have hit a roadblock. The issue at hand is the role of the Receivership and to what extent the Receiver can represent Traffic Monsoon in the appeals process.
On November 29th the Traffic Monsoon Receiver filed her Third Stats Report. In it the Receiver revealed over $4.3 million has been recovered from Allied Wallet.