In the wake of the SEC’s allegation that Traffic Monsoon is a $207 million dollar Ponzi scheme, owner Charles Scoville has publicly responded to the allegations.

In a Facebook post published about an hour ago, Scoville claimed he’s going to ‘
stand up against (the SEC’s) claims in a court of law.
‘

The SEC alleges Scoville was in the process of transferring unfrozen PayPal funds to his personal accounts, with the intent of then transferring the funds offshore.

In his Facebook post, Scoville claims

PayPal started to release funds.

Fake checks were circulating around using the bank account and routing numbers made available online for customers purchasing services, so I moved the funds out of the business account until I could get to the USA, go into a chase branch, and send those funds to payza.

Then, I was going to surprise members with an early release.

Convenient much?

People had been circulating fake checks using bank account and routing number info provided online..

I moved the funds out from the business account into my personal account to avoid those from clearing, also– I intended to send those funds to payza as the note on that transfer indicates.

I just couldn’t make that large of a transfer to pay people what they had earned until I was able to go into a chase branch.

I didn’t pay myself that money. I was positioning that money to be sent to payza, but I wasn’t given a chance to do that because I hadn’t been able to go into a chase branch since I was out of the country.

In response to Traffic Monsoon being a Ponzi scheme, Scoville (right) seems to believe pseudo-compliance about a lack of ROI guarantee will stand up in court.

There’s no promised “returns” as I have always said, and the website and my videos doesn’t say anything of the sort..

I’ve never guaranteed 10% returns.. only that as we sell ad service people who click ads in the traffic exchange can qualify to share in revenues up to a maximum of $55 .. without any time frame affixed whatsoever.

Despite the SEC spelling out the use of newly invested funds to pay off existing investors is what makes Traffic Monsoon a Ponzi scheme, the thought appears lost on Scoville.

I was definitely sharing profit margins with people as I have outlined. No investment is offered on traffic monsoon as it clearly states.

No promise of returns — only promise of ad service, with an explanation that people can click through ads and qualify to share in the revenues, which couldn’t possibly be guaranteed.

Whether Scoville has acquired legal representation is as of yet unclear.

If he intends to rock up on court on August 5th and go on about a lack of ROI guarantee though, looks like we’re in for a steamroll hearing.

I was just about to fly to Utah to make that transfer and surprise everyone with an early release to some of the positions and balances.

In his post, Scoville mentions he was “out of the country”. The above suggests he was about to fly back into the US before the SEC were

🤖 Quick Answer

What allegations has the SEC made against Traffic Monsoon and its owner Charles Scoville?
The SEC has alleged that Traffic Monsoon operates as a $207 million Ponzi scheme. The regulator claims that owner Charles Scoville attempted to transfer unfrozen PayPal funds to his personal accounts with the intention of moving them offshore, violating securities regulations and defrauding investors.

How has Charles Scoville responded to the SEC's allegations?
Scoville publicly responded via Facebook, vowing to defend himself in court against the SEC's claims. He explained that he relocated business funds due to fraudulent checks circulating with the company's banking details, stating he moved money temporarily until he could secure it through proper banking procedures.

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