CLEVELAND, Aug. 11, 2016 /PRNewswire/ -- The Peiffer Rosca Wolf law firm is investigating Traffic Monsoon, LLC and Charles Scoville's alleged Ponzi scheme on behalf of investors – whom Traffic Monsoon called "members."
The Securities and Exchange Commission ("SEC") alleges that Traffic Monsoon, LLC, a Utah-based entity, and Charles Scoville allegedly operated an Internet-based Ponzi scheme that was falsely represented to its investors – or "members" – as an advertising company.
Scoville, according to the complaint filed by the SEC on July 26, 2016, allegedly began operating Traffic Monsoon in October 2014 as a multi-faceted combination of Internet traffic exchange and pay-per-click program which led to the company bringing in over 162,000 investors around the world. Even though Traffic Monsoon markets itself as a highly successful company, almost all of its revenue is generated from other members, or investors, not its products or services, according to the SEC Complaint.
The SEC's complaint also alleges that Traffic Monsoon and Scoville violated federal securities laws. In its complaint, the SEC seeks permanent injunctions, prohibiting further violations of the laws charged, disgorgement of ill-gotten gains plus prejudgment interest and civil penalties from Traffic Monsoon and Scoville.
What You May Do
The Peiffer Rosca Wolf lawyers are preparing to take action and seek compensation on behalf of those who invested in the alleged Ponzi scheme orchestrated by Traffic Monsoon and Scoville.
If you invested in Traffic Monsoon and wish to obtain additional information about our investigation or would like to discuss this matter or your rights, please visit www.trafficmonsoonlawsuit.com and complete the contact form, or contact Alan Rosca or James Booker toll free at 888-998-0520 or by email at [email protected].
The Peiffer Rosca Wolf law firm represents individual and institutional investors who have suffered financial losses as a result of investment fraud or misconduct, Ponzi schemes, unsuitable investment recommendations, or abusive practices in the financial industry.
Attorney advertising. Prior results do not guarantee a similar outcome. Please visit our website, www.securitieslitigators.com, for important disclosures, office locations, and attorney admissions. The SEC's allegations are not proof of liability and anyone should be presumed innocent until and unless otherwise found in a court of law. Peiffer Rosca Wolf Abdullah Carr & Kane, A Professional Law Corporation ("Peiffer Rosca Wolf").
Peiffer Rosca Wolf
Alan Rosca or James Booker, 888-998-0520
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