Owners of RadioShack and Pier 1 Imports accused by SEC of operating $112 million Ponzi scheme
Posted: Thu Sep 25, 2025 9:27 am
- Alex Mehr and Tai Lopez.jpeg (54.08 KiB) Viewed 25 times
MIAMI, FLORIDA - A pair of flashy e-commerce entrepreneurs who bought bankrupt retail giants — including Pier 1 Imports, RadioShack, and Modell’s Sporting Goods — have been accused of running a $112 million Ponzi scheme, according to a new lawsuit.
The US Securities and Exchange Commission accused Alex Mehr and Tai Lopez, founders of Miami-based Retail Ecommerce Ventures (REV), of duping investors out of roughly $112 million, according to the federal Southern District of Florida filing obtained by The Post.
Mehr and Lopez were known for snatching up struggling brick-and-mortar brands and attempting to rebrand them as online-only shops.
Their business portfolio also includes Dress Barn and Stein Mart, the suit said.
https://nypost.com/2025/09/25/us-news/o ... zi-scheme/