Masakari
שלום ושגשוג
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BB.com Misc Refugee Thread
- Thread starter Masakari
- Start date
SirFapsAlot
Von Clippowicz
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I'm calling bull shit on this one, I'm pretty sure Ratfish never lifted. Unless you're talking about beer bottles.
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SirFapsAlot
Von Clippowicz
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BunkyChutt
Buzzfeed Editor
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Tasty The Treat
Molten Core Raider
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Luc1fer
ℭ𝔥𝔞𝔰𝔢 𝔞 𝔠𝔥𝔢𝔠𝔎, 𝔫𝔢𝔳𝔢𝔯 𝔠𝔥𝔞𝔰𝔢 𝔞 𝔟𝔦𝔱𝔠𝔥
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Tasty The Treat
Molten Core Raider
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gwg77
Log Wizard
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SEC says Tai Lopez and his partner ran a ponzi scheme and skimmed $16 million off the top. Isn't this the guy who bought bb.com?
Thread:
Article:
The Securities and Exchange Commission accused two men who bought well-known brands including RadioShack, Modell’s Sporting Goods and Pier 1 Imports out of bankruptcy of running a Ponzi scheme that raised about $112 million from investors through fraudulent means.
Retail Ecommerce Ventures, a Miami Beach-based holding company founded by Taino Lopez and Alexander Mehr, acquired at least eight consumer-facing brand names, usually purchasing them out of bankruptcy to convert them into online-only operations. Other brands that REV acquired include Dressbarn, Stein Mart and Linens ’N Things, according to an SEC complaint filed Tuesday in a Florida federal court.
In its lawsuit, the SEC alleged that when REV went about selling securities to finance these acquisitions, it made material misrepresentations to investors about the success and profitability of the business model and the underlying brands.
Lopez and Mehr allegedly assured investors that their portfolio companies were “on fire” and that “cash flow is strong.” However, none of the portfolio companies generated any profits, according to the SEC. Instead, REV covered obligations by using loans from outside lenders, merchant cash advances, and funds raised from new and existing investors, the SEC said.
Lopez, Mehr and Chief Operating Officer Maya Rose Burkenroad allegedly solicited investors through REV’s website and through online social media campaigns on Twitter, Facebook, and YouTube, the SEC said. The co-founders also hosted prospective investors on Zoom calls and in-person events in Puerto Rico, Virginia and Las Vegas, according to the complaint.
Lopez, Mehr and Burkenroad couldn’t immediately be reached for comment.
The SEC also accused Lopez and Mehr of having misappropriated $16 million in investors funds for their personal use. The complaint seeks civil penalties, disgorgement of ill-gotten gains, and a ban on the defendants serving as an officer or director of any public company.
REV rode enthusiasm about e-commerce to a string of acquisitions, often involving distressed retailers that were looking to cash in on brand names, trademarks, website domains and social-media accounts, as well as lists with mailing and email addresses of customers.
“It is about the strength of the brands,” Mehr told WSJ Pro Bankruptcy in 2020. “We buy companies that are failing to operate and turn them around.”
The venture faced its own financial struggles, however, and its secured creditors foreclosed on its assets in 2023, according to the SEC. REV subsequently dissolved, while most of the assets were assigned to a new holding company called Omni Retail Enterprises.
Write to Alexander Gladstone at [email protected]
Thread:
Article:
The Securities and Exchange Commission accused two men who bought well-known brands including RadioShack, Modell’s Sporting Goods and Pier 1 Imports out of bankruptcy of running a Ponzi scheme that raised about $112 million from investors through fraudulent means.
Retail Ecommerce Ventures, a Miami Beach-based holding company founded by Taino Lopez and Alexander Mehr, acquired at least eight consumer-facing brand names, usually purchasing them out of bankruptcy to convert them into online-only operations. Other brands that REV acquired include Dressbarn, Stein Mart and Linens ’N Things, according to an SEC complaint filed Tuesday in a Florida federal court.
In its lawsuit, the SEC alleged that when REV went about selling securities to finance these acquisitions, it made material misrepresentations to investors about the success and profitability of the business model and the underlying brands.
Lopez and Mehr allegedly assured investors that their portfolio companies were “on fire” and that “cash flow is strong.” However, none of the portfolio companies generated any profits, according to the SEC. Instead, REV covered obligations by using loans from outside lenders, merchant cash advances, and funds raised from new and existing investors, the SEC said.
Lopez, Mehr and Chief Operating Officer Maya Rose Burkenroad allegedly solicited investors through REV’s website and through online social media campaigns on Twitter, Facebook, and YouTube, the SEC said. The co-founders also hosted prospective investors on Zoom calls and in-person events in Puerto Rico, Virginia and Las Vegas, according to the complaint.
Lopez, Mehr and Burkenroad couldn’t immediately be reached for comment.
The SEC also accused Lopez and Mehr of having misappropriated $16 million in investors funds for their personal use. The complaint seeks civil penalties, disgorgement of ill-gotten gains, and a ban on the defendants serving as an officer or director of any public company.
REV rode enthusiasm about e-commerce to a string of acquisitions, often involving distressed retailers that were looking to cash in on brand names, trademarks, website domains and social-media accounts, as well as lists with mailing and email addresses of customers.
“It is about the strength of the brands,” Mehr told WSJ Pro Bankruptcy in 2020. “We buy companies that are failing to operate and turn them around.”
The venture faced its own financial struggles, however, and its secured creditors foreclosed on its assets in 2023, according to the SEC. REV subsequently dissolved, while most of the assets were assigned to a new holding company called Omni Retail Enterprises.
Write to Alexander Gladstone at [email protected]
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SirFapsAlot
Von Clippowicz
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Here, in my garage, Lamborghini, but you know what I really love? BOOKS
just kidding, I like running scams
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BunkyChutt
Buzzfeed Editor
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Masakari
שלום ושגשוג
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Bald Brah
Blackwing Lair Raider
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SirFapsAlot
Von Clippowicz
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AlwaysFocus
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How do you guys deal with door knockers? Recently had an obviously commission driven scumbag somehow schedule an appointment to change my home media services. I never OK'd anything and told them I would call back when I had time. Somehow this morphed into them creating a Sunday appointment to install fiber.
I guess dont answer the door? Throw rocks from above? I fuckin hate grifters and beggars so much.
On top of this the same company seems to spam call every few days trying to grift me home security. Do I need to bite the bullet and activate caller control?
I guess dont answer the door? Throw rocks from above? I fuckin hate grifters and beggars so much.
On top of this the same company seems to spam call every few days trying to grift me home security. Do I need to bite the bullet and activate caller control?
