Traffic Monsoon, LLC—Ponzi Scheme

Aug 12, 2016, 12:20 AM |

Traffic Monsoon, LLC and Charles Scoville lawsuit Facing SEC Civil Injunctive Regarding Violations of Securities Laws; Traffic Monsoon, LLC Also Facing Disgorgement, Prejudgment Interest and Civil Penalties

Traffic Monsoon, LLC and Charles David Scoville are allegedly facing an SEC civil injunctive with regards to violations of securities laws, according to an SEC Complaint from the U.S. District Court of Utah currently under review by attorneys Alan Rosca and James Booker.

Traffic Monsoon, LLC and Charles are also looking at repercussions of disgorgement, prejudgment interest and civil penalties from the SEC, the Complaint also notes.

The Peiffer Rosca Wolf securities lawyers are currently investigating Traffic Monsoon, LLC’s alleged Ponzi scheme and encourage investors to contact the firm.

Traffic Monsoon, LLC is Also Facing an Ex Parte Temporary Restraining Order, a Preliminary Injunction, and an Ex Parte Asset Freeze from the SEC

The SEC is also requesting emergency relief against Traffic Monsoon, LLC, according to the aforementioned Complaint being examined by attorneys Alan Rosca and James Booker.

The emergency relief will come in the part of an ex parte temporary restraining order, a preliminary injunction, an ex parte asset freeze and order appointing a receiver over Traffic Monsoon and its customer funds, and the funds of Scoville, the Complaint notes.

The SEC’s temporary restraining order against Traffic Monsoon, LLC claims that that entity is allegedly a Ponzi scheme which took in $207 million from approximately 160,000 global investors, the Complaint also reports.