2

Traffic Monsoon Facing Claims for $207M Ponzi Scheme

July 28 — Utah-based Company Traffic Monsoon LLC is facing Securities and Exchange Commission allegations that it collected a whopping $207 million Ponzi scheme using its main internet advertising product ( SEC v. Traffic Monsoon, D. Utah, No. 2:16-cv-00832, 7/26/16 ).

The main profit-sharing scheme by the company and its owner Charles Scoville relied entirely on new sales of its leading product Banner Ad Pack to repay earlier investors, the SEC filed a complaint in the U.S. District Court for the District of Utah July 26. “In reality, Traffic Monsoon’s advertising business is a service designed to obscure the fact that it is offering a selling and a security in a pure Ponzi scheme,” the SEC said.

You can read the rest of the article Here

The official Receiver appointed in this case notified Charles Scoville on the 4th of August that the site was being shutdown by midnight EST on the 5th of August 2016.

Charles Scoville has since admitted that he knew about the website being shut down, but did not want to warn anyone, instead claims it could have been a DDOS Attacked.

In my personal opinion, The Receiver has shut down Traffic Monsoon.

I could be wrong, but Time will tell.

However if you are looking for a new business model that is 5 years old and is not going to disappear

I highly recommend you check it out here

2 Comments

  1. I can see that the business will be closed.
    Is any chance to get back invested money.

    • Can’t really make any comment, i can only share what is happening and that’s why i urge people to move forward in life,
      whatever the outcome will be, you can’t sit back and wait for Traffic Monsoon, you have to do something and find a new income
      stream.

Leave a Reply

Your email address will not be published. Required fields are marked *