Category: Alleged Ponzi Schemes
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Indicted Payza Announces ‘Restructuring’
As one of its operators sits in a Michigan federal prison and the other is listed “at large” by U.S. authorities, Payza today announced a purported “restructuring” as a “European service” that has ceased serving U.S. customers. “This means that no transactions are allowed for US members at this time and Payza will no longer…
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Payza Site Seized By Feds
The website Payza.com has been seized, the office of U.S. Attorney Jessie K. Liu of the District of Columbia confirmed tonight. It was not immediately clear how the action will affect Payza customers worldwide, but Liu’s office has updated an information site here. In the update, authorities provided an email address for persons who have questions…
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BULLETIN: Payza, Patel Brothers Indicted; Feds Move To Forfeit Payza.com Domain Name
BULLETIN: A grand jury in the District of Columbia has indicted the operators of Payza and moved for the forfeiture of the Payza.com domain name. Ferhan Patel, 37, has been arrested in Detroit and is being held. Firoz Patel, 43, is listed by U.S. authorities as “at large.” The Payza.com domain name appears still to be…
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Proposed Class Action Alleges Traffic Monsoon’s Scoville Told PayPal He Was In ‘Investments’ Business
In the aftermath of the SEC’s securities-fraud action against him last year and a judicial ruling this year that he was opertaing a Ponzi scheme, Traffic Monsoon’s Charles Scoville has blanketed social media with claims he was not offering investments. But Scoville told PayPal that “Traffic Monsoon’s business was “Investments – general” when he opened…
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In Atmosphere Of Murkiness, Are Violations Of The Traffic Monsoon Asset Freeze Taking Place?
EDITOR’S NOTE: Traffic Monsoon is a Utah company. The firm also has purported business operations in the United Kingdom and Dubai. Details about the offshore operations are murky. A claim from an apparent Traffic Monsoon affiliate appeared Monday (April 3) on Facebook that “Allied Wallet is making refunds of [Traffic Monsoon] purchases made by credit…
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‘Traffic Hurricane’ Members Beware: Preliminary Injunction Prohibits Traffic Monsoon, Scoville From Benefiting From ‘AdPack’ Businesses
2ND UPDATE 6:58 P.M. EDT U.S.A. Here’s a news flash for individuals who joined a “program” called Traffic Hurricane with the belief they somehow were helping the defense of Charles Scoville and Traffic Monsoon: Both Scoville and Traffic Monsoon are “prohibited from soliciting, accepting, or depositing any monies obtained from actual or prospective investors, individuals, customers, companies,…
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Famed Prosecutor Who Tied HYIP Scheme To Terrorist Financier Fired By Trump Administration
EDITORIAL: Ponzi schemers, Wall Street fraudsters and corrupt politicians must be taking comfort in the reported abrupt firing by the Trump administration of Preet Bharara, the U.S. Attorney for the Southern District of New York. There is no question that President Trump had the power to ask Bharara and dozens of other U.S. Attorneys who…