Our law firm has received a flood of inquiries from Traffic Monsoon investors (“members”). Given the enormous number of affected investors – over 160,000 – it is physically impossible for us to respond to individual inquiries telephonically. But, we’re working at this matter to determine what the legal options to pursue redress for the members may be. Please contact us via email – firstname.lastname@example.org. We are updating Traffic Monsoon investors who contacted us via email about our progress at this matter.
Securities and Exchange Commission Takes Action Against Traffic Monsoon and Charles Scoville
On July 26, 2016, the Securities and Exchange Commission filed a complaint in federal court against Traffic Monsoon, LLC and Charles Scoville. The complaint alleges that Traffic Monsoon and Scoville have taken approximately $207 million in sales of a product called the “Banner AdPack,” a product that entitled Traffic Monsoon members the ability to share in the company’s profits. However, according to the SEC’s compliant, over 99% of Traffic Monsoon’s revenue was derived from the sales of AdPacks. As a result, more than 99% of the money Traffic Monsoon distributed to members/investors came from the sales of new AdPacks to other members/investors.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged investment schemes and are currently investigating Traffic Monsoon’s and Charles Scoville’s alleged investment fraud scheme. They take most cases of this type on a contingency fee basis, and only get paid for their attorney’s fees out of money they recover for their clients.
Investors who believe they lost money as a result of the Traffic Monsoon alleged investment fraud scheme are encouraged to contact the securities lawyers in the Cleveland office of Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at email@example.com.