Traffic Monsoon Receiver working on plan of distribution
The Traffic Monsoon Receivership has flagged work starting on a “plan of distribution”.
The announcement follows resolution of a significant percentage of investor claims.
As per the Receiver’s April 15th Third Status Report covering the claims process;
To date, 18,039 Proofs of Claim are allowed or are anticipated to be allowed in the total amount of $55,132,872, and only 511 Proofs of Claim asserting claims totaling approximately $12,923,100 remain unresolved.
This is up from $36.3 million in allowed claims just shy of a year ago.
Pending approval by the court, the Receiver is hoping to whittle down the $12.9 million in disputed claims to $549,472.
PayPal also has a $3.1 million claim which is being worked through.
Pending approval by the court to move towards resolving unresolved claims, the Receiver writes;
Now that Disputed Investor Claims have been significantly reduced, the Receiver also intends to work on a plan of distribution.
There is no timeline for court approval or the distribution process.
Update 15th June 2022 – A Status Conference with the Receiver has been scheduled for 8th July.
Update 9th July 2022 – The court has granted the Receiver’s motion to disallow claims and approve other claims with modified amounts. This brings distribution one step closer to Traffic Monsoon victims with approved claims.
Looking forward, the Court appears to want to appoint a Special Master, I’m not as of yet sure why.
The Receiver has been directed to “file a motion proposing how to proceed”. I’m assuming we’ll get more information when that motion is filed.
Update 4th August 2022 – The court has approved notification of disputed claim holders, of the intention to appoint a Special Master to decide their claims.
This paves the way for Special Master proceedings to commence.
I want follow up all news traffic monsoon.
Hope I get some back.
Been away from this topic for a while but whatever happened to the cuck who run it?
Child abuser Charles Scoville was it?
Charles SCAMville.
Still locked up in Utah for doing terrible things to a little boy.
Had a parole hearing in November 2021 and was denied. Next parole hearing is November 2023.
He will do near the maximum of his 3 to 5 year sentence.
Thank god.
His charge of ‘Aggravated Sexual Abuse of a Child’ was reduced to ‘Attempted Aggravated Sexual Abuse of a Child’ on a plea bargain mainly due to the issues of the child having to testify and face his tormentor in court.
So he’s still in for the kiddie fiddling? Must have been pretty depraved seeing as the US is usually very soft on paedophiles as most of the US Government push to normalize it by sexualizing children from the age of 3.
So when and if he gets out he’s looking at another sentence for Traffic Monsoon? Tough break lol.
Had he only waited a few years he could’ve just done an NFT rugpull and got away scot free!
If I am not mistaken, he has to complete the sex education program before he can be released. He just can’t go through the motions, but has to actually “prove” he is doing the work required to be released.
It will start with Tax Evasion and Wire Fraud when he gets out.
On the road to distribution, a Status Conference has been scheduled for June 27th.
The matter to be heard is getting rid of the bogus claims. They have to be dealt with before legit claims can be paid out.
Article updated with news of Receivership Status Conference.
Article updated with outcome of July 8th Status Conference.
Sep 29th Seventeenth Status Report:
Looks like there is enough to repay everyone – which is weird for an MLM isn’t it?
Not everyone per say, just those with an approved claim.
A lot of Traffic Monsoon victims transferred money to their uplines for credits. Then there’s those who couldn’t verify their claims because they intentionally tried to game the investment scheme (stacking, signing up family pets etc.).
Was pretty rampant in the UK among the immigrant investors (they were lied to by the scammers targeting them). And that deficit works out in favor of those with approved claims.