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.
After perhaps realizing that wasn’t such a good idea, Patel (right) then positioned himself at the head of a pro-Ponzi movement.
Patel’s first order of business for the movement was organizing an August meetup at Brighton pier in south-east England.
A handful of pro-Ponzi supporters rocked up and pledged their support to Charles Scoville and Traffic Monsoon. Patel was on hand with a camera and filmed prepared statements from the Ponzi faithful.
Those statements, along with prepared affidavits, were handed to lawyers under the belief they would be presented in court at tomorrow’s hearing.
Whether or not that happens remains to be seen. In the meantime though, Patel has moved on to promoting a new Ponzi scheme.
Patel describes himself as an ‘entrepreneur for nineteen years’, a book author and owner of ‘a personal brand worth millions‘. He also claims to have had ‘top coaching from Tony Robbins, Brian Tracy, Les Brown, Richard Branson.‘
Patel signed up as a Traffic Monsoon affiliate in late 2015. In YouTube videos he’s since deleted, Patel documented his “ten percent return” on an initial £4500 GBP investment.
In videos published after the SEC shutdown, Patel falsely claims he never referred to Traffic Monsoon as an investment.
Publicly Patel is full of bravado, insists Traffic Monsoon isn’t a Ponzi scheme and that tomorrow it will prevail in court. Privately however Patel is hedging his bets.
In a Facebook post published yesterday, Patel began a recruitment drive for My 24 Hour Income:
My 24 Hour Income is operated by serial Ponzi participant Drew Burton out of Canada. Through the scam affiliates invest up to $75 on the promise of an advertised 130% ROI.
As part of his Ponzi pitch, Patel claims Traffic Monsoon affiliates who sign up with My 24 Hour Income can make ‘3x more than … with a $50 TM Adpack‘.
Patel claims he is visiting Canada next week to meet up with Burton.
When asked by a fellow Traffic Monsoon affiliate why he was now promoting My 24 Hour Income, Patel replied;
I am waiting for TM, but this take a while, so need good earning.
So I started this new business a month ago, and I’m now doing about $500/day.
Why Patel only disclosed his participation in My 24 Hour Income yesterday is unclear.
In any event, tomorrow the SEC and Charles Scoville go head to head over whether a preliminary injunction should be granted.
The SEC allege Traffic Monsoon is a $207 million dollar Ponzi scheme. Despite Traffic Monsoon investors moving on to promote other Ponzi schemes, Charles Scoville maintains paying affiliates a $55 ROI on $50 deposits from subsequent deposits isn’t a Ponzi scheme.
We’ll be live tomorrow to provide you coverage of the preliminary injunction decision. Stay tuned…