10 Aug Traffic Monsoon’s Advertising Business Is a Ponzi Scheme, Securities Regulators Allege; Investment Fraud Lawyers Investigating
Traffic Monsoon, LLC’s Advertising Business is Allegedly a Mirage Simply Masking the Reality that it is a Pure and Uncut Ponzi Scheme Wherein 99% of its Revenue Derived from AdPack Sales
Traffic Monsoon conveyed to the world that it operated a successful advertising business. In reality Traffic Monsoon’s ad game was allegedly nothing more than a mirage designed to obfuscate the reality that the entire operation was in fact a Ponzi scheme, according to an SEC Complaint from the U.S. District Court of Utah currently under review by attorneys Joe Peiffer and James Booker.
The SEC goes on to allege that over 99% of Traffic Monsoon’s revenue is derived from the sale of its AdPacks and that the Utah-based company basically has no other revenue streams, the Complaint notes.
The Peiffer Wolf securities lawyers are currently investigating Traffic Monsoon, LLC’s alleged Ponzi scheme and are actively talking to investors.
Traffic Monsoon, LLC’s Allegedly Used the Funds from AdPack Sales to Make Payments to Investors; Traffic Monsoon and its Charles David Scoville Allegedly Violated Antifraud Provisions and Tenants of the Securities Act
The aforementioned revenue of AdPack Sales was allegedly Traffic Monsoon, LLC’s only source of revenue and all payments to investors were derived from said funds, according to the aforementioned Complaint being examined by attorneys Joe Peiffer and James Booker.
The SEC further alleges that Traffic Monsoon and its chief operator Charles David Scoville, on a continuous basis, allegedly violated provisions of antifraud federal securities laws and tenants of the Securities Act, said Complaint notes.
The SEC, as a result of the aforementioned behavior, has ordered a halt to the alleged ongoing fraud of Traffic Monsoon and Scoville which has been purportedly perpetrated against investors, the SEC Complaint reports.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of alleged Ponzi schmes and are currently investigating Traffic Monsoon’s alleged Ponzi scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Traffic Monsoon’s alleged Ponzi scheme are encouraged to contact the securities lawyers at the Cleveland office of Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 216-589-9280.