A group of Italian Traffic Monsoon investors fell for the old “pay your upline instead of the company” MLM Ponzi ruse. The upline was Fabiano Santos, aka Maurizio Longo, who directed his victims to invest upwards of $1 million through his shell company Advertising Corp. Doubling down on his fraud, Santos filed investor claims with […]
Italian Traffic Monsoon investors settle claims with Receiver Read More »
The Traffic Monsoon Receiver has confirmed Imtiaz Aslam has fled to Dubai. The revelation was made in a motion to serve Aslam by alternative service, filed on July 19th. The Receiver filed suit against Aslam (right), and other Traffic Monsoon net-winners in 2019. The Receiver’s motion follows unsuccessful conventional attempts to effect service. In 2019,
Traffic Monsoon Receiver confirms Imtiaz Aslam fled to Dubai Read More »
Unresolved Traffic Monsoon victim claims are holding up distribution payments. As ordered by the court, 508 unresolved claims will now be decided by a Special Master. As laid out by the Traffic Monsoon Receiver in a July 29th motion; A total of 23,220 Proofs of Claim were submitted to the Receiver by persons claiming to
Special Master to decide unresolved Traffic Monsoon claims Read More »
The notorious Traffic Monsoon Ponzi scheme has been resurrected. This time opportunistic scammers are hoping to fleece new victims through cryptocurrency. Whereas the original Traffic Monsoon operated from a .COM domain, the 2022 iteration operates from “trafficmonsoon.net”. The .NET domain was privately registered on June 6th, 2022. The new Traffic Monsoon website is a freemium
Scammers resurrect Traffic Monsoon Ponzi, add crypto Read More »
The Traffic Monsoon Receivership has flagged work starting on a “plan of distribution”. The announcement follows resolution of a significant percentage of investor claims. As per the Receiver’s April 15th Third Status Report covering the claims process; To date, 18,039 Proofs of Claim are allowed or are anticipated to be allowed in the total amount
Traffic Monsoon Receiver working on plan of distribution Read More »
Traffic Monsoon has had a $145 million Final Judgment entered against it. I’m a little bit lost on the procedural side of things, as the Final Judgment follows a $2.5 million Jan 2021 default judgment order. The Jan 2021 default judgment included Charles Scoville, leaving him jointly liable for $4.96 million (disgorgement and a civil
Traffic Monsoon cops $145 million final judgment in SEC case Read More »
The Traffic Monsoon Receiver has announced she’s stopped pursuing the sale of Charles Scoville’s UK flat. Scoville (right) purchased the Manchester flat during Traffic Monsoon’s run. He paid £290,000 in cash, made up of stolen investor funds. As per the injunction putting the Receiver in charge of Traffic Monsoon, the Manchester flat was property of
Traffic Monsoon Receiver drops sale of Scoville’s UK apartment Read More »
The FTC has issued at least 379 MLM companies with deceptive and/or unfair conduct notices. This was announced by the FTC on October 26th. If it slipped under your radar, you’re not alone. I learned of the FTC’s announcement via a tip sent in by a reader. At first I thought there was some funny
FTC sends 379 MLM companies deceptive/unfair conduct notices Read More »
A May 10th Receivership Status Report reveals that 12,500 Traffic Monsoon victims have had their claims approved. The total dollar amount of approved claims so far comes to $33,383,808. On the chopping block are claims totaling $182.8 million. These claims are in dispute regarding filed proof backing the claims. The Receiver has filed omnibus objections
$36.3 million in Traffic Monsoon victim claims approved Read More »
Back in October 2019 the Traffic Monsoon Receiver sought to employ local attorneys to go after Canadian net-winners. The motion was denied later the same month. In denying the motion, the court recommended the Receiver ‘solicit multiple bids from attorneys experienced in this area of Canadian law’. On April 26th the Receiver filed a new
Traffic Monsoon Receiver renews Canadian clawback efforts Read More »
