SEC

PP Blog Tag archives on references to "SEC."

Dawn Wright-Olivares Of Zeek Rewards Sentenced To 7.5 Years In Federal Prison

Dawn Wright-Olivares Of Zeek Rewards Sentenced To 7.5 Years In Federal Prison

BULLETIN: Dawn Wright-Olivares, the former COO of Zeek Rewards, has been sentenced to seven and one-half years in federal prison. The sentence was imposed by U.S. District Judge Max O. Cogburn Jr. of the Western District of North Carolina. The office of U.S. Attorney Jill Westmoreland Rose prosecuted Wright-Olivares for investment- and tax-fraud conspiracy. Daniel Olivares, […]

Zeek Receiver Has $104K Judgment Against TrafficMonsoon Pitchman Now Pushing TrafficPowerline

Zeek Receiver Has $104K Judgment Against TrafficMonsoon Pitchman Now Pushing TrafficPowerline

On Oct. 14, 2015, the federal court clerk for the Western District of North Carolina signed a judgment of $104,743.55 against Adrian John Hibbert of Sully, United Kingdom. The judgment was in favor of Zeek Rewards’ receiver Kenneth D. Bell, records show. Bell had sued Hibbert and other U.K. residents in March 2015 for return […]

DEVELOPING STORY: Possible Traffic Monsoon Data Breach

DEVELOPING STORY: Possible Traffic Monsoon Data Breach

DEVELOPING STORY: During its routine reporting today, the PP Blog observed information that strongly suggests a data breach occurred at Traffic Monsoon or within a sponsor’s organization — possibly in the summer of 2015. The SEC, which charged Traffic Monsoon and alleged operator Charles David Scoville of Utah last month with running a massive, cross-border […]

SEC Declines Comment On Whether It Contacted Traffic Monsoon Pitchman Sunil Patel About Saturday Rally In England

SEC Declines Comment On Whether It Contacted Traffic Monsoon Pitchman Sunil Patel About Saturday Rally In England

Traffic Monsoon pitchman Sunil Patel has promised “security” at a “Revolution Day” rally Saturday in the area of Brighton Beach/Brighton Pier in England to advocate for the alleged Ponzi scheme. In a video post today on Facebook, Patel claimed the SEC has contacted him about the event. The SEC this afternoon declined to comment on […]

Private Attorneys Now Investigating Traffic Monsoon

Private Attorneys Now Investigating Traffic Monsoon

UPDATED 1:15 P.M. EDT U.S.A. It has happened in previous cases involving alleged violations of federal securities laws, and now it’s happening with Traffic Monsoon. “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 firm said […]

BULLETIN: Utah Division of Securities Rejects Claims In Traffic Monsoon Promo That Scheme Had Been Given Clean Bill Of Health

BULLETIN: Utah Division of Securities Rejects Claims In Traffic Monsoon Promo That Scheme Had Been Given Clean Bill Of Health

BULLETIN: The Utah Division of Securities — the state-level regulator — has rejected online claims that the agency had investigated Traffic Monsoon and had given it a clean bill of health. Federal regulators sued Traffic Monsoon and alleged operator Charles Scoville last week, alleging Ponzi fraud, securities fraud and the sale of unregistered securities to […]

Some Traffic Monsoon Promoters Are Zeek Clawback Defendants

Some Traffic Monsoon Promoters Are Zeek Clawback Defendants

UPDATED 11:51 A.M. EDT U.S.A. Zeek Rewards’ receiver Kenneth D. Bell had no comment this morning on reports that some Zeek clawback defendants also were participants in Traffic Monsoon, alleged last week by the SEC to have been a Ponzi scheme that had gathered at least $207 million. The reports appeared on RealScam.com. In March […]

SEC: Claims That Traffic Monsoon Was A Successful Advertising Business ‘Merely An Illusion’

SEC: Claims That Traffic Monsoon Was A Successful Advertising Business 'Merely An Illusion'

“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.” — U.S. Securities and Exchange Commission, July 28, 2016 EDITOR’S NOTE: This (below) is the full litigation statement of the SEC on its Ponzi case against […]

REPORT: SEC Moves Against ‘TrafficMonsoon,’ Calls It A Ponzi

REPORT: SEC Moves Against 'TrafficMonsoon,' Calls It A Ponzi

The SEC has filed a lawsuit against the Traffic Monsoon “program” and called it a Ponzi scheme that had gathered $207 million, the Salt Lake Tribune is reporting. The assets of Traffic Monsoon and alleged operator Charles Scoville have been frozen, the newspaper reports. On June 1, the PP Blog reported that Payza — a payment […]

DEVELOPING STORY: U.S. Attorney Carmen Ortiz ‘Has Been Recused’ From Prosecution Of TelexFree Figures James Merrill and Carlos Wanzeler

DEVELOPING STORY: U.S. Attorney Carmen Ortiz 'Has Been Recused' From Prosecution Of TelexFree Figures James Merrill and Carlos Wanzeler

2ND UPDATE 6:27 P.M. EDT U.S.A. A government filing dated July 1 — a Friday before the long Independence Day weekend — says U.S. Attorney Carmen Ortiz of the District of Massachusetts “has been recused” from the prosecutions of TelexFree figures James Merrill and Carlos Wanzeler. The document does not say why Ortiz no longer […]

Stephen L. Cohen, SEC Official Who Introduced World To Zeek Case, Leaving Agency After Nearly 12 Years

“The obligations to investors drastically exceed the company’s cash on hand, which is why we need to step in quickly, salvage whatever funds remain and ensure an orderly and fair payout to investors. ZeekRewards misused the power of the Internet and lured investors by making them believe they were getting an opportunity to cash in […]