Traffic Monsoon TRO extended until preliminary injunction decision
Following one or more hearings on the SEC’s Motion for a Preliminary Injunction, Judge Parrish has extended the previously granted Temporary Restraining Order until further notice.
Traffic Monsoon and Charles Scoville remain prohibited from
soliciting, accepting, or depositing any monies obtained from actual or prospective investors, individuals, customers, companies, and/or entities, through the Internet or other electronic means.
Scoville and anyone else directly connected to him and Traffic Monsoon have also been ordered to repatriate
any and all funds or assets that presently may be located outside of the United States that were obtained directly or indirectly from (Traffic Monsoon) investors.
Presumably this includes the $3.35 million Charles Scoville has stashed away offshore.
These funds are to be deposited into an interest bearing account held with the court.
This Court hereby takes exclusive jurisdiction and possession of the assets, of whatever kind and wherever situated, of (Traffic Monsoon and Charles Scoville).
Not to sure what that’s about, but it seems the court has temporarily taken control of Scoville’s assets and victim funds from the previously appointed Receiver.
Except as otherwise specified herein, all assets of the Defendants (“Defendants’ Assets”) are frozen until further order of this Court, including but not limited to any accounts held at PayPal Holdings, Inc., Payza, Solid Trust Pay, Allied Wallet LTD, and JPMorgan Chase Bank, N.A.
The final part of Parrish’s order stays all litigation against Charles Scoville and Traffic Monsoon that the SEC is not a party to, or seeks to recover victim funds currently frozen.
The stay has been ordered until further notice (which will presumably be extended till resolution of the SEC’s preliminary injunction hearing).
At the time of publication there’s no indication on the case docket as to when the SEC’s preliminary injunction motion might be ruled on.
Update 8th November 2016 – A new filing from the Receiver reveals the next hearing in the case is scheduled for November 30th.
Update 29th March 2017 – On March 28th Judge Parrish confirmed Traffic Monsoon was a Ponzi scheme and granted the SEC’s preliminary injunction.