Modell’s Buyers Accused of Ponzi Scheme
The Securities and Exchange Commission accused Alex Mehr and Tai Lopez, the buyers of Modell’s Sporting Goods and several other bankrupt retailers, of running a $112 million Ponzi scheme. The SEC alleges that their holding company, Retail Ecommerce Ventures, made misleading statements to investors regarding sales and cash flow. While some REV brands generated revenue, none ... Log in to view full article.
