Traffic Monsoon Supreme Court writ denied
Charles Scoville’s bid to legalize Ponzi schemes through the Supreme Court has come to an end.
Following distribution to the Supreme Court Justices, a decision on Scovilles’ Traffic Monsoon writ of certiorari was reached last Friday.
Details were published earlier today, revealing Scoville’s writ has been denied.
Going forward, this means the SEC’s case against Scoville will resume in the Utah District Court.
The granted preliminary injunction stands, and the Receiver doesn’t have to worry about litigation interfering with the victim claims process.
Scoville can still fight the SEC’s civil case but I think that’s highly unlikely. In granting the preliminary injunction the District Court signaled the strength of the SEC’s case.
I can’t say exactly when but I imagine we’ll see settlement negotiations emerge over the next few months. Stay tuned…