As one of the thousands of people affected by the actions of SEC, I feel I need to say that surely there is someone above the SEC. that they are answerable to, surely they cannot just take the law into their own hands without any responsibility for their actions.
IE. Paypal contacted the SEC and claimed that Traffic Monsoon is a ponzi scheme, with no investigation by SEC they get a court to rule for receivers to be appointed. Receivers step in and freeze all of Charles Schofield's assets, i.e. his business, his house, his bank a/c's - he has to sleep on his parents couch, he lost custody of his son, and this is all through paypal telling lies to SEC and the customers who phoned paypal asking if their was enough money in paypal to cover the money that they all had purchased ad packs with in Traffic Monsoon, paypal said no there isn't enough money in Traffic Monsoon's a/c to cover their ad packs so complain to SEC. SEC get a court to appoint the receivers and all of the thousands of people who had business with Traffic Monsoon, including Traffic Monsoon had their money frozen.
SEC did not investigate the allegations made by paypal before appointing Receivers. My money was frozen with Traffic Monsoons money and all of the customers of Traffic Monsoon. I could not conduct my business due to this action by SEC and the receivers. I have been living off my savings and am now broke, My husband and I have used all of my savings, i.e. $100,000 to live on while all of this business has been going on caused by paypal and SEC. We had retired early, we sold our business and put a good amount into the business with Traffic Monsoon, that was suppose to be our income to live on and the $100,000 was our savings to stay in the bank. Because SEC did not investigate before involving the receivers many people who had put money into a business with Traffic Monsoon who do not even live in the USA are now suffering hardship. Traffic Monsoon did not even conduct their business in the USA and only 10% of the people involved with Traffic Monsoon live in the USA. so why do they have control of what happens with our money.
I want SEC to give me back the $100,000 that I have lost to date, and that is not counting the money I have in Traffic Monsoon, and along with all of the other people who have lost their money including Charles Schofield.
You and others talk about the Budget for different agencies in the USA that is extensive budgets for SEC and the others, ie. the Billions of Dollars in their budgets, SEC need a big budget to pay their lawyers for all of the companies that they take to court which are sometimes in the wrong but they proceed without investigating, they should also have to reimburse all of the people, all of the customers who sometimes have their life savings involved in business in companies like Traffic Monsoon. People just like me who end up broke because of agencies like SEC who can do whatever they like, No consequences, no pay back to the people that they hurt, they are alright, the same as you, you all go to work and decide on peoples lives, you all go home and go to bed without any conscience for all of the lives you have ruined. Please have a look at SEC's policies and actions and see the far reaching consequences of their proceedings, their actions, their misconduct. The USA Government have a duty to make sure that what SEC are doing is in the best interests of the people by being diligent in their investigations.
Regards Julie Dixon,