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High Court Denies Review in SEC Fraud Extraterritoriality Case

Nov. 4, 2019, 2:35 PM

A Utah-based online ad seller won’t get a chance to push back against the SEC’s extraterritorial enforcement power after the U.S. Supreme Court declined Nov. 4 to consider his case.

Charles D. Scoville contested the Securities and Exchange Commission’s ability to get preliminary relief in a fraud suit accusing him of using his company, Traffic Monsoon LLC, as part of a multimillion dollar Ponzi scheme because more than 90% of its products were purchased by people living outside the U.S.

Traffic Monsoon offered bundled advertising services, called “AdPacks,” which promised a 10% return in exchange for clicking on other customers’ ...