Scoville loses control of Traffic Monsoon, Receiver appointed
Contradicting 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.
Traffic Monsoon has operated as an internet-based Ponzi scheme that has raised over $200 million from over 160,000 investors throughout the world.
Currently, Traffic Monsoon has approximately $60 million in accounts located in the United States, Canada, and the United Kingdom.
It has offices in Salt Lake City, Utah, and in London, England, presumably where financial and other business records are held.
Moreover, it runs a website (trafficmonsoon.com) through which hundreds of thousands of individuals around the world invest their funds.
The website is reportedly operated through servers located in North Carolina.
The Commission respectfully requests that the Court enter an ex parte order appointing a receiver in this action to protect and preserve these assets.
As it stands, Traffic Monsoon and Charles Scoville are prohibited from soliciting new investment from Traffic Monsoon affiliates and dispersing any personal property they own.
In order to ensure that all assets of the Defendants are properly preserved, and to give effect to the terms and provisions of the TRO, including but not limited to the cessation of investor solicitation through the Traffic Monsoon website and the protection of the servers, business records, and files of Traffic Monsoon and Scoville, the Commission respectfully requests that the Court appoint a Mary Margaret (Peggy) Hunt of Dorsey Whitney LLP as the Receiver over all assets of Traffic Monsoon and Charles Scoville.
The same day the SEC filed their motion, Judge Parrish granted it.
Before the Court is an Ex Parte Motion for Appointment of Receiver brought by the Securities and Exchange Commission.
Having considered the Commission’s Motion, the Court makes the following findings:
The Commission has made a sufficient and proper showing that the appointment of a receiver in this action is necessary and appropriate for the purposes of marshaling and preserving all assets of Traffic Monsoon, LLC and all assets of Charles D. Scoville.
Judge Parrish also acknowledged that if a Receivership was not established, that Traffic Monsoon and Scoville
would likely dissipate or otherwise conceal assets and would likely continue to receive funds from investors.
Because Traffic Monsoon and Scoville are unlikely to have sufficient assets to satisfy the full value of any judgment obtained in this case, any dissipation of the assets would irreparably harm the investors on whose behalf the Commission brought this suit.
That last paragraph is significant, revealing that the Judge anticipates significant damages to be awareded against Traffic Monsoon and Scoville at a later date.
Mary Hunt has been appointed Receiver of Traffic Monsoon, with the appointment seeing the Receivership take full control of Traffic Monsoon and Scoville’s assets.
The Receiver is authorized to take immediate possession of all assets, bank accounts or other financial accounts, books and records and all other documents or instruments relating to Traffic Monsoon and Charles Scoville.
The Receiver is authorized to take immediate possession of all personal property of Traffic Monsoon and Charles Scoville, wherever located, including but not limited to electronically stored information, computers, laptops, hard drives, servers, external storage drives, and any other such memory, media or electronic storage devices, books, papers, data processing records, evidence of indebtedness, bank records and accounts, savings records and accounts, brokerage records and accounts, certificates of deposit, stocks, bonds, debentures, and other securities and investments, contracts, mortgages, furniture, office supplies and equipment.
The Receiver is authorized to take immediate possession of all real property of Traffic Monsoon and Charles Scoville, wherever located.
The Receiver is (also) authorized to open all mail directed to or received by or at the offices or post office boxes of Traffic Monsoon and Charles Scoville, and to inspect all mail opened prior to the entry of this Order, to determine whether items or information therein fall within the mandates of this Order.
Traffic Monsoon and Scoville have additionally been ordered to
- immediately preserve and turn over to the Receiver forthwith all paper and electronic information of, and/or relating to Traffic Monsoon; such information shall include but not be limited to books, records, documents, accounts and all other instruments and papers
- provide any passwords and execute any documents required to access any computer or electronic files in any medium, including but not limited to electronically stored information stored, hosted or otherwise maintained by an electronic data host
- provide any information to the Receiver that the Receiver deems necessary to exercising the authority and discharging the responsibilities of the Receiver under this Order, including but not limited to allowing the Receiver to inspect documents and assets and to partition office space and
- assist the Receiver in fulfilling her duties and obligations (by responding) promptly and truthfully to all requests for information and documents from the Receiver
In a nutshell, Charles Scoville just lost control of Traffic Monsoon.
A preliminary injunction hearing remains scheduled for August 5th. Stay tuned…
thanks for keeping us up to date
I have a significant amount of money in Traffic Monsoon, what will happen? What are the steps I should take to rescue my money, if there are any?
I live in the United Kingdom, does this affect me in anyway since this is all happening in the U.S.?
Any help or support would be appreciated
There’s nothing you can currently do. On August a preliminary injunction will likely be granted, after which the Receiver will begin in earnest to marshal Traffic Monsoon’s assets and Charles Scoville’s ill-gotten gains.
At some point a claims process will begin, through which you can claim your Traffic Monsoon losses. Don’t expect to get back all of which you initially invested. Also you will not be able to claim ROIs, as the funds don’t actually exist.
If on the other hand you’re a net-winner, you might find yourself on the receiving end of clawback litigation. It all depends on the Receiver and it’s far too early to make a substantive call either way at this point in time.
Another ponzi bites the dust. Let the next one in line be announced.
You may get a fraction of your original investment back someday. Don’t count on a thing.
Remember when this guy made a £50,000 deposit last December? I’m not sure he will be so confident now.
Oh dear god… that’s too much.
Thanks for the laughs Rishi Patel. I suppose at least you’ve still got your Southend Dental Care clinic to fall back on, at least that’s something.
How’d you get sucked into this?
Someone that knew me fron the rmm beta-test skype group ‘pay it forward’ me one TM adpack worth $50 which expired to $55.
I did withdraw that to paypal ad paid some hosting bill with it.
I am happy for blogs like behindmlm.com and ethanvanderbuilt for making me a critical sceptic. Otherwise I would now have lost a lot of time and only break-even.
Thank you for keeping us informed.
How can anybody get suckered into a clone of “Ad Surf Daily” autosurf scam that was busted 8 years ago? Or its predecessor, 12DailyPro, shut down by Feds 10 years ago? By being willfully ignorant.
12DailyPro was ran by Charis Johnson. when Feds came calling, Johnson was defended by Noell Tin, same guy defending Paul “ZeekRewards” Burks right now.
EXACT SAME business model.
Just briefly glanced through several of the videos on YouTube for traffic monsoon and they are oblivious to the SEC lawsuit and think its just a simple case and will prove their concept that it is a legit business model.
And most are still pushing people to continue doing Traffic monsoon and how to handle the SEC lawsuit and keep moving forward.
Also, if it is a legit advertising company, how come there is only one principal and who manages all the rest of the systems, their servers,billing, customer service etc. Boggles my mind that they raised over 200M$ according to the SEC and then on one video, Scoville himself in January claims they have done over HALF A BILLION in sales without any infrastructure that a tech company needs
And then he talks about how they have a consultant who is going to help them create all the systems necessary to make them a world class company after supposedly doing 500 MILLION DOLLARS in sales???
Is there any truth in the below…
From Charles Scoville…
he’s never told the truth. why start now?
frank calabro jr, has been promoting traffic monsoon and my advertising pays for a long time. he ‘double dips’ these schemes by selling ‘power leads’ to investors to grow their business.
afraid of losing his traffic monsoon team, he has quickly moved to engage them in the ‘next big thing’ which will give them immediate cash in their pocket. he promises to reveal this next opportunity soon.
while giving traffic monsoon a 50/50 chance of survival, he gently leads his recruits away from it, by saying how he understands that people cant ‘wait’ and need cash ‘now’.
watching his youtube video in which he smoothly addresses the fears and vulnerabilities of people who are struggling financially, is to watch a master conman at work, giving listeners exactly what they need to comfort themselves and to trust him.
so, the exodus from traffic monsoon has started, and soon all the top career ponzi players will have guided their sheeple to another scam.
calabro jr, did reveal an important bit of information, that scoville is currently in the UK, but is planning to return to the US on monday, 1st august, 2016.
Thank you everybody for your responses. As for how I got involved in the first place… friends and family, that’s all…
All except for “moving forward and pay people to surf” part.
He made it sound as if he’s gonna resolve the business. What he’s really doing is sign over the business to the receiver, like Paul Burks did even before Zeek got closed, and agree to help SEC clean up his own mess (unlike Zeek which kept horrible records).
Why all except the “move forward” part? Because he’s still going to see an SEC stipulation… that he NEVER run another ponzi scheme again.
SEC has a very long memory. Sann Rodrigues found out the hard way due to his “Universo Fone Club” way back when. SEC let him off easy because he promised never to do it again. Then he joined TelexFree.
Scoville is done with this biz for good.
In my opinion I think this writeup is defamatory.
Instead of SEC and querck journalists seeking for recognition by defaming a character as good as Charles schoville, why not encourage this young man that as decided to assist people on a business platform he created.
I think our law enforcement agencies should begin call a spade a spade.
Please I’ll advice you start encouraging good things and not to end a good platform like TRAFFIC MONSOON (TM).
I love Charles and trust everything he says. He is a good guy and TM is never a ponzi scheme.
I lost everything !!!
1. The truth isn’t defamatory.
2. Regulatory agencies aren’t in the habit of encouraging Ponzi fraud.
They did… and you seem upset by it.
Whether you want to have Scoville’s babies has no bearing on Traffic Monsoon being a Ponzi scheme or not.
Hi there, should I still click 50 ads daily in hope that one day this will help to get money back?
Why would you want to waste your time clicking ads when you could be looking for another business opportunity.
Doing your clicks is not going to insure that you will get any money back and even if you do get money back it will not be everything that you put into it and it could be years from now.
This sounds like a response of a new winner. Be prepared to get yourself a second job to pay back the people you stole funds from 🙁
This sounds like a response of a net winner. Be prepared to get yourself a second job to pay back the people you stole funds from
And the next ponzi in line will be THW Global.
People never learn.
I hope Charles is sentenced to the limits of the law as that may discourage other Ponzi startups.
Jay the next two Ponzi are already out there:
Saivian and LifeTreeWorld
The latter is in melt down having fallen foul of SKY by making wild claims. Sacked their CEO because of a winding up order that got as far as the High Court in the UK.
Stopped by the DSA from joining after breaking terms of the application to join e.g. changing their accounting date.
Actively poaching or attempting to poach reps from other companies.
Failing to pay commissions and bonuses, because there is too little money coming in now to keep the money circulation scheme going.
Saivian is just total fraud.
THW Global, I do agree does look, well dodgy.
i pulled the plug on T.M back in Oct-Nov 2015 when $250 disappeared from my account and after placing numerous support tickets in with no response…
well that was enough to know that something just wasn’t right though i still managed to get back my seed and what ever profit i had accrued…
since then i have found a few awesome legit online businesses that i am receiving daily returns from.. to everyone’s success!!
Moving from one ponzi to another isn’t really an accomplishment to be proud of… behindmlm.com/mlm-reviews/zukul-review-recruitment-soon-to-be-ad-credit-ponzi/
I think you have been around long enough to know that any ponzi startup is not watching who is being sent to jail for what.
They just want their own slice of the easy money!
That was them and I have something better than their thing.
Grass is not always greener on the other side of the ponzi.
You are right in the assumption that i have been around long enough to see this coming and what the next scam will be but it just saddens me that there are real people out there who genuinely want to earn a living by not stealing and it’s people who just want to fleece the unsuspecting public who are making it incredibly difficult for the honest ones.
These people should be arrested much sooner and before the worst damage is done. You would think a scam that is over 100 years old would be easier to define and prevent in todays world.
Seriously it took the SEC nearly 2 years to figure out a system that takes money from people and promises to give it back with interest is actually a ponzi scheme?
It doesn’t matter how much technology we have in today’s world bureaucracy will always be the obstacle to real justice.
SEC can’t be any and everywhere.
Yet the ones that get reported the most should get the attention.
If no one is reporting and looking out for the “little guy”
I guess these scams and schemes will continue to populate.
That plus I think it takes time to gather all the evidence that these scammers try to cover up once you corner them.
Seems they want to play innocent when caught.
Blame the members like they knew what was going on.
These scams run deep in the amount of lives they do damage to.
And hopefully, not another bogus clicker that promise “easy money”.
The SEC knows about every scam and internet ponzi out there, they simply do not have the time funding or manpower to take down every single one.
Like the DEA, they like to target the big guys.
Some how these Revshares must all close down. They are sick with greedy scamming Owners and members.
Hit and run stackers. TM owner was a shady stinking lying thief.
Ever since hearing his lies about the paypal fiasco. Freaking give it up they all suck, all of them. They suck!!!!!!!!!!!!!!!!!
It’s already happening.
The ponzi players’ circus has moved on to cryptocurrency looking for the “next-big-thing”
a video uploaded on youtube on aug 1, 2016, reports a conversation between scoville and an anonymous TM investor.
basically, scoville admits that his assets are all frozen and that he is in no position to fight the SEC, and is trying to settle with them:
on july 31, 2016, charles scoville posted a message on his FB page thanking his sheeple for their support:
scoville has a lot of support from his TM affiliates, i suspect this support is either from net winners or sheeple in denial or first timers who don’t know better.
scoville has also been deleting some negative comments, as posts i read yesterday are not visible now.
about an hour ago, a commentator on scovilles FB page wrote:
LOL Terrence, when are the SEC ANYWHERE?
a TM affiliate jose nunes has published a video 15 hours ago about the SEC problem.
the video is too long to sit through, though i happened to catch an interesting part.
there is a lot of complaining about the SEC, and about the US being over regulated and ‘wanting a piece of the pie’, and not wanting people in poor countries to earn their living from TM…[whine whine]
the speakers compare TM to ‘my advertising pays’ MAPS, and say that even MAPS had to abandon the US, and shifted from using US dollars to euros.
he said charles scoville had a place in the UK, TM was registered in the UK, and some ‘servers’ of the TM website were probably also located in the UK, so scoville could probably abandon the US like MAPS, and run the business from the UK.
since scoville is said to be the UK currently, i suspect this^^ must have been his plan, ever since the SEC started investigating him.
Reading through the transcript of the may meeting,one of the attorney didnt seem to know what Paypal was which raises questions as to whether they are in the best position to understand the business model they are dealing with.
Whatever the outcome the rev share industry is here to stay and the business model will evolve to take into account the outcome of the case.
Don’t assume what an attorney does or doesn’t know. The point of the witness testimony is to get as much information from Scoville, specific to the SEC’s investigation, on the record.
Scoville’s lawyered up (hopefully it’s not just another UK attorney doubling as a Traffic Monsoon investor this time).
Lawyer has finally told him to shut up, and is trying to organize a meeting with the SEC.
I don’t believe an attorney representing Scoville has met with the SEC and I expect the reality will hit Scoville after that meeting. We’ll also probably see the end of all this pointless pseudo-compliance “we didn’t call our investors investors” nonsense too.
If Scoville’s lawyer is even slightly competent, then you already know how this is going to end.
Facebook, a few hours ago.
Just a bit of background on the Scoville UK connection. (Most of which you probably know)
Traffic Monsoon Global Ltd. is registered at a multiple serviced office address in a crappy part of East London, and Scoville took over control as sole shareholder of 300 worthless shares from Aamir Raja and Tahir Sardar, neighbours in another crappy part of East London, in February.
Scoville’s UK address is 200 miles north
in Manchester’s old docks area, which has been redeveloped and gentrified. Currently worth about £260k, which is £15k down on the price it last changed hands for in August 2015. Rental value ~£1300 a month.
There is no-one on the Electoral Roll at that address, which means either a foreign resident or a Brit breaking the law lives there. Smells like a rental.
worst of all! Traffic Monsson, makes you provide your bank details and identity like passport.
who knows what the freaking criminals will do with our details!
I think most people joined because of friends and family. While I only lost money on one adpack that was purchased, I do feel for many of you who poured significant amounts of money into this.
I wouldn’t take Charles at his word that he is directly negotiating with the SEC. The scary thing is his band of followers see nothing wrong and blame the SEC for this wrongful suit.
There is no such thing as a good Monsoon is it? What were people expecting – adpacks to pay and compound forever?
I think Charles is feeling a lot more relaxed than we think. He doesn’t have to worry if he will make payouts or not anymore.
I’m not really sure what the point of a lawyer is other than for just a meeting with the SEC.
Charles might as well save himself the bother and just let the SEC do what they are going to do. He isn’t going to win. So forget any court cases and lawyers because we already know how this is going to end.
People were earning money and withdrawing perfectly normal till the Pay Pal delema and now SEC take those out of the equation and things would be back to normal.
Typical tall poppy syndromers anything gets to high or big we’ll chop you back down to size. Keep on keeping on Charles.
All truth passes through 3 stages. First, it is rediculed. Second, it is violently opposed. Third, it is accepted as being self evident.
Arthur Schopenhaur, Philosophers (1788-1860)
And what “normal” would that be? As it stands Traffic Monsoon took in $207 million and owes over $800 million dollars in ROI liabilities.
The thing about truth is that it actually has to be true. Bullshit Ponzi math is far from “the truth”.
The only “tall” aspect of TM is the “tall tale(s)” Charles peddles to his gullible, greed-addled sycophants … whether pseudo-libertarian grifters or not.
Don’t try to be intellectual, greedy people aren’t usually very good at that.
The actual quote from Schopenhauer regarding truth is
Which is rather like Ponzi spotting.
The ‘paradoxical’ bit is when people like you say “It’s paying so it must be legit”.
The ‘brief celebration of victory’ is when the Scovilles of this world get their collars felt
The ‘disparagement as trivial’ is the realisation that there’s a thousand more of these parasites still out there.
What investors should do to receive back money invested in Traffic Monsoon ?
You can complain to your bank or Paypal, otherwise if that doesn’t work your stuck waiting for a claims process from the Receiver (at least 6 months off).
Seems we have an revshare that is moving up fast to take Monsoon place already.
I guess there is no waiting there must always be another one when one gets taken down.
I guess OZ will review it soon.
You think the SEC can include other such schemes as examples when they go before the judge or is it just time to focus on just Charles and Monsoon?
Only if it’s MLM. If it’s a HYIP like Traffic Monsoon I won’t review it.
What is the outcome of Traffic Monsoon court case hearing on 23.09.16
The hearing has been delayed until November 1 at the request of Scovilles’ newly appointed counsel.
What is the outcome of Traffic Monsoon court case?
Waiting on the Judge to making a ruling on the preliminary injunction. TRO remains in place until then.
Bernie Madoff ran his scam for 30+ years before ANYONE was on to him, and then 9+ years AFTER the SEC was notified he was running a Ponzi!
These scams that proudly proclaim they have been paying 6 months or so ain’t sayin NOTHIN!