Feds Say Company That Bought RadioShack Was Running $112 Million Ponzi Scheme
The Securities and Exchange Commission alleged this week that Retail Ecommerce Ventures, the company that bought RadioShack out of bankruptcy in 2020, ran a Ponzi scheme that defrauded investors out of $112 million. REV was founded by Taino Lopez and Alexander Mehr and spent recent years buying up distressed retail ventures including Dress Barn, Franklin Mint, Linens ‘N Things, Modell’s Sporting Goods, Pier 1 Imports, RadioShack, and Stein Mart. Lopez and Mehr allegedly promised investors in t