Monday, August 8, 2016

Traffic Monsoon Declared As Ponzi By US SEC

So, we've been aware about Traffic Monsoon for a very long time since the day it started and was created. But this legitimate informations is going to get you shocked. Is Traffic Monsoon a legitimate or ponzi and fraud business model? Let's take a look.
trafficmonsoon ponzi

Traffic Monsoon originally started as a revenue sharing and a traffic exchange hybrid. So basically, they are a 2 in 1 website. Revshare because they do pay you return on investment of some percentage number, it is based on how much you purchase what so ever. Not really a straight forward offer since they do say they are an advertising and exchange website and they are not a get paid to advertise site but logically, they are. It's just they are denying everything from the start so it won't be obvious that they do sell advertising service and promises advertisers they will get paid from it. TM even gets the 1st position of the 'Top 10 Traffic Exchanging Sites" on the web  based on a leading TE chart ''.

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From the start, it's been a very confusing rumors and controversy about TrafficMonsoon's legitimacy. Many users and outsiders suspects they are a ponzi, unsustainable program. Until the day U.S. - Securities and Exchange Commission marked the website as an internet-based ponzi scheme. We were not really aware of these announcement by the SEC until a forum member link the page to us which we saw it was posted by the US government department dated July 28, 2016 just a month ago.

Here's what the SEC says about TrafficMonsoon:
Litigation Release No. 23604 / July 28, 2016
Securities and Exchange Commission v. Traffic Monsoon et al., No. 2:16-cv-00832-JNP (D. Utah filed July 26, 2016)

SEC Halts $207 Million Internet-Based Ponzi Scheme
The Securities and Exchange Commission today announced that it has obtained an asset freeze against the operator of a Utah-based international Ponzi scheme that raised more than $207 million from investors worldwide, primarily in the U.S., India and Russia.
In a complaint filed in federal court in Salt Lake City on July 26, the SEC alleges that Traffic Monsoon LLC and Charles Scoville, the company's only member operated an Internet-based Ponzi scheme that they falsely represented to investors was an advertising company. According to the SEC complaint, Scoville began operating Traffic Monsoon in October 2014 as a combination Internet traffic exchange and pay-per-click program and recruited more than 162,000 investors around the world. According to the complaint, although Traffic Monsoon markets itself as a highly successful company, nearly all of its revenue is generated by other investors, not its products or services. The complaint alleges that more than 99% of Traffic Monsoon's revenue is derived from new investor funds, making claims that it is a successful advertising business merely an illusion.
The SEC's complaint alleges that Traffic Monsoon and Scoville violated Sections 5(a), 5(c) and 17(a)(1) and (3) of the Securities Act of 1933 and Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5(a) and (c) thereunder. Among other things, the SEC's complaint 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.
The SEC's investigation was conducted by Alison Okinaka, Scott Frost and Cheryl Mori of the SEC's Salt Lake Regional Office. Daniel Wadley is leading the SEC's litigation. "

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Quite alarming there's still too many people that fall for these kind of promises. But we can't blame everyone you know that, if they are paying with no issues within a very long period of time (years) no doubt people who would like to earn money online will jump in the site no questions asked.

Is TrafficMonsoon a scam site or legit one? They've been already marked as a positive ponzi by a  government body. Decide now or be broke in the end.

If incase you have more informations, complaints, feedback for TrafficMonsoon, please kindly drop a comment below so everybody can see it, opinions are welcome.


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I am the founder of PhilReviews PTC and GPT, ecommerse website reviews. I love writing and blogging about stuffs. An online money maker since 2010.