January 06, 2021
A Utah federal judge on Tuesday granted a $4.9 million default judgment against the incarcerated owner of an online advertising business following a 2017 injunction against the alleged international Ponzi scheme, saying the defendant shows no regrets over his multimillion-dollar illegal scam.
May 28, 2020
The U.S. Securities and Exchange Commission asked a Utah federal judge Wednesday to grant a $2.5 million default judgment against the incarcerated owner of an online advertising business following a 2017 injunction against the alleged international Ponzi scheme.
November 04, 2019
The U.S. Supreme Court declined on Monday to hear a case challenging a ruling that the Dodd-Frank Act allows the federal government and regulators to pursue international securities fraud claims — a stance the Tenth Circuit affirmed earlier this year.
March 29, 2017
A Utah federal judge on Tuesday ruled that a provision in the Dodd-Frank Act supersedes a U.S. Supreme Court opinion on the extraterritorial application of securities laws, granting the U.S. Securities and Exchange Commission's motion for an injunction against an internet advertising business the agency says is a Ponzi scheme.
September 26, 2016
Internet advertising business Traffic Monsoon LLC urged a Utah federal judge Friday to lift a restraining order in a U.S. Securities and Exchange Commission case alleging the company has taken $207 million from investors in an “ongoing Ponzi scheme,” arguing its conduct isn’t covered by U.S. securities laws.
July 26, 2016
The U.S. Securities and Exchange Commission sued to shut down Traffic Monsoon LLC, a Utah-based internet advertising business the agency called an "ongoing Ponzi scheme" that has taken $207 million from 162,000 investors worldwide, according to a complaint filed Tuesday in Utah federal court.