Traffic Monsoon Receivership website goes live
Sometime over the last 24 hours the Traffic Monsoon Receivership website has gone live.
This website will be the main method of communicating with customers and the public. We strongly encourage interested persons to check the website frequently as it will be updated as new information is obtained.
You may also contact the Receiver using the contact information listed below. Please note, at this time the preferred method of contacting the Receiver is via e-mail.
Having only just been appointed, the Receiver is in the process of gathering information requesting assistance from Traffic Monsoon affiliates.
As Receiver and pursuant to the Court’s Orders, Ms. Hunt has taken control of the assets of Traffic Monsoon and Mr. Scoville and is in the process of gathering information.
If you have information that you believe would be helpful in the Receiver’s investigation, please email Ms. Hunt.
At this stage in the process, the Receiver has only limited information. As such, she encourages interested and affected parties to utilize this website or call the hotline at toll-free in North America 888-522-8926 or outside of North America +1-503-520-4483 with inquiries.
Note that the Receiver likely has a copy of the Traffic Monsoon affiliate database, along with a copy of the transaction database Scoville has already provided the SEC .
A FAQ is featured on the Receivership website, in which a number of common questions Traffic Monsoon affiliates are likely asking themselves are answered.
I cannot log into my account, when will I be able to?
Pursuant to a Court order Traffic Monsoon is not legally allowed to operate, accounts have been locked and assets have been frozen.
Will I get all of my money back?
It is too soon to determine how much investors will receive or when. The Receiver is working to protect the assets in receivership, but there is no way to predict at this early date how much will be returned or when that will happen.
Should I hire a lawyer?
While we cannot provide you legal advice, you certainly have the right to hire or consult with your own lawyer.
As authorized by the Court, however, the Receiver will be investigating all potential claims or methods of recovery that she can bring for the benefit of investors.
Going forward, the Receiver advises ‘in the coming weeks, parties in interest, including those who purchased ad plans, can expect to receive a letter from Ms. Hunt with additional information.‘
Stay tuned…
I’m curious,what are the odds of them getting their money back?
I’m thinking they’ll get back the principle..
Ponzi math dictates victims can’t receive 100% of the funds they invested. That would mean nobody got paid in the business.
The second Scoville pays himself or an early investor makes a withdrawal, a liability is created that only grows over time.
The larger it grows, the less money there is to return to victims.
Depending on how many sheeple get fleeced by their upline to NOT file a claim. More for the rest of the victims.
Recall in ASD that so few people filed claims, those who did were made good on 100% of their losses, and there’s still a little left over, after paying the salaries and fees.
Typically in Ponzi cases victims get back maybe 20 cents on the dollar, 35 if they are lucky. More than 50% is rare as heck.
From memory and based on the SEC Complaint, TM accumulated ponzi liabilities 300% greater than the amount of money invested, and roughtly 1/2 of the money invested was distributed to perpetuate the scheme.
The SEC claims that about 1/2 of the total funds that came into the scheme were trapped and are now frozen by court decree.
At first glance the estate should be able to pay roughly 50% +/- of approved loss claims. (50% of principal)
Get their Principle back??? Are you people Nuts or just Crazy.
Yes it depends on how many people claim but in instances like this, the Mathmatecians will tell you that 33% of what your put in will be provided back to you over the next 3 years.
Take away the interest you would have made and call it 30%… if that…
We got SCREEEEWED!!!
Yeah, it was very expensive advertising, but looking on the bright side, Traffic Monsoon is getting lots of publicity. That’s what you were paying for right.
You got screwed the moment you believed TM and Scovie’s hype.
Another thing that has to be taken into consideration on how much the true victims will receive is how successful the Receiver will be at clawbaks.
In the Zeek case, it is estimated when it is said and done the true victims will received between 70%-85% of their money back. The Receiver in Zeek went after winners who made at least $1000.
There are still a few holdouts in coughing up what they owe, but he has been very successful in getting a ton of money back through the clawbacks process. He also went after winners in five foreign countries at least, maybe more.
Since we know the Major pimps have been kind enough to brag about their payments, it will make the Receiver’s job a lot easier.
There is no way one can say what the end result will be. It could be as low as 30% or as high as 70%. Just too many unknown factors at this stage of the game to predict with any degree of accuracy.
The thing is, is that the amount actually collected from net winners who settled is nominal (probably less than 1% of the total losses claimed by net losers) and those settlements had no appreciable effect on the percentage the net losers received in the first distribution since almost all of the funds distributed were already sitting in Zeek money accounts at shutdown.
Secondarily, regardless of how many default judgments Bell has from the likes of Trudy Gilmond, or the judgments he hopes to obtain through the class action, converting judgments to cash requires time, more money and heavy discounting (as in pennies on the dollar) to accomplish.
Call me a skeptic, but there is no proof yet that clawbacks across international boundaries, on this scale, and after years of delay will provide very much of a benefit to creditors of the estate. Time will tell.
I agree that Bell has to go after the net winners and that his efforts, no matter how successful will pave a road for future efforts but I think he is in pioneering territory on this one. Accordingly, my expectations are low.
true. there are jurisdiction problems across international borders which can be time consuming and expensive.
but it is necessary to keep pushing for clawbacks across borders, so that foreign participants cannot enjoy the fruits of their scamming and are forced into litigation against clabacks in their own countries.
with time, the world will be able to deal with international clawbacks more efficiently, so kudos to receiver bell [of zeek] for being one of the pioneers.
though TM has approx 90% of non US participants, the receiver should go after the net winners across borders.
a country like the UK may offer quick cooperation to the receiver, while countries like morocco or venezuela may require more time and patience.
its all right. at least the net winners will have to run to and fro from their courts and cough up money for their defense. making scam money wont seem like a cakewalk anymore.
please do think that we will get our money back in early time.
Early like a few years?
I mean don’t put your life on hold expecting to be refunded in full. Just learn from this as a life lesson not to join these fast money schemes.
Real wealth is earned with solid work.
Basically you have stepped into a big pile of dog shit, so don’t expect much, but you should get something (not all) back within a year.
the only way people would get their money back, is by providing proof of ad purchases!
Huh? Providing such proof is no guarantee of getting *all* money back.
The way these schemes work is that they are generally generating no additional funds whatsoever, so the absolute best they can be is a zero sum game, everyone gets back exactly what they put in, no more and no less. In reality this is unlikely to be the case.
On the plus side:
Some revenue may have been gained not subject to the scheme, this will increase the payout.
Not everyone will claim, again this will increase the payout for those who do.
On the negative side:
Funds will have been expended in running the scam (and some of these may be excessive)
Funds may have been hidden away by those running the scam
There will be net winners who will fight paying back, they may lose but that will incur costs along the way which will then be lost
There will be net winners who the size of the win makes it unattractive to pursue (costs exceed benefit) (If they are in other countries the amount of the win may be quite high but still not worth the expense)
Other resistance to releasing funds. cf Zeek and payment world
The cost of getting the payout is one born by the “investors”, the cost of the receiver, legal actions etc. is all funds not returned.
And probably many other things.
If you consider zeek was shutdown in 2012 and full disbursement is not complete…
£25,000 ($35,000) adpack purchase in May.
In line for some at least partial refund from receiver? Time will tell.
youtube.com/watch?v=Od50Vj9JwbE
the only way people would get their money back, is by providing proof of ad purchases!
Huh? Providing such proof is no guarantee of getting *all* money back.
The way these schemes work is that they are generally generating no additional funds whatsoever, so the absolute best they can be is a zero sum game, everyone gets back exactly what they put in, no more and no less. In reality this is unlikely to be the case.
On the plus side:
Some revenue may have been gained not subject to the scheme, this will increase the payout.
Not everyone will claim, again this will increase the payout for those who do.
On the negative side:
Funds will have been expended in running the scam (and some of these may be excessive)
Funds may have been hidden away by those running the scam
There will be net winners who will fight paying back, they may lose but that will incur costs along the way which will then be lost
There will be net winners who the size of the win makes it unattractive to pursue (costs exceed benefit) (If they are in other countries the amount of the win may be quite high but still not worth the expense)
Other resistance to releasing funds. cf Zeek and payment world
The cost of getting the payout is one born by the “investors”, the cost of the receiver, legal actions etc. is all funds not returned.
And probably many other things.
If you consider zeek was shutdown in 2012 and full disbursement is not complete…
Hi if I don’t have my Login information, I probably have just LOSS my money again?
Not necessarily. I’m not sure on the particulars but it comes down to the Receiver being able to match up your claim (financial and personal details) with the records they’ve been able to put together.
If you don’t know those details (likely not your account in that case) then yes, the money is gone.
Hello,i got my account details with Trafic Monsoon but i have’nt receive any email to lunch my claim.
I will appreciate if you can forward me claim email.
You can access the claim portal via the Traffic Monsoon Receivership website.
Please could you help my im trying to claim for a refund. Im using the link trafficmonsoonreceivership.com has shown on your website..
Its been impossible for me to access the site to fill out a refund form can you please help me ASAP..
MY CLAIM IS FOR £7000 which was paid into trafficmonsoon via paypal will reciepts from paypal be ok has proof..
Regards
mark coucher
Receivership website has been down since last Friday or so. Has been showing 500 error code all weekend.
They’ll probably sort it out by the end of the week. Alternatively you could give the phone numbers provided in the article a call.
I think someone at Epiq screwed up. Everything is redirecting to their homepage now.