RadioShack, Pier 1 Imports owners accused of operating $112 million Ponzi scheme

Fox Business ^ | 9/25/25 | Daniella Genomes

[Libloather]

The Securities and Exchange Commission (SEC) is accusing the men who bought bankrupt chains RadioShack, Modell’s Sporting Goods, and Pier 1 Imports of running a Ponzi scheme that duped investors out of tens of millions of dollars.

A complaint filed in the U.S. District Court for the Southern District of Florida on Tuesday, alleges the co-founders of Miami-based Retail Ecommerce Ventures, Alex Mehr and Tai Lopez, together with the company's Chief Operating Officer Maya Burkenroad, raised approximately $112 million combined from hundreds of U.S. investors by selling investments in eight companies they created and controlled under Retail Ecommerce Ventures.

Between April 2020 through Nov. 2022, they raised money by selling two types of investments. They sold unsecured notes that promised returns of up to 25% a year, and ownership shares that offered monthly payouts as high as 2%, according to the complaint.

They also claimed that the money would be used to buy struggling retail brands and to fund operations, but the SEC alleges Mehr and Lopez misled investors about how well the businesses were actually doing.

The complaint cited at least one promotional video, publicly available on the internet, where Lopez touted REV’s approach as "one of the best strategies you can invest in." The SEC also said that she and Lopez further assured investors that while other businesses were struggling, their portfolio companies were "on fire" and that "cash flow is strong."

They assured investors that funds raised for a specific portfolio company would be used for that specific company, and that REV and the REV Retailer Brands have never failed to pay a single investor, the complaint continued. However, the SEC said that while some of the REV Retailer Brands generated revenue, none of them generated any profits.

To pay interest, dividends and maturing note payments...

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TOPICS: Business/Economy; Conspiracy; History; Local News
KEYWORDS: pier1; ponzi; radioshack; scheme

[Libloather]

I'm kinda surprised folks can still pull off a Ponzi scheme these days.

[E. Pluribus Unum]

I miss Radio Shack.

[fruser1]

Social Security employees?

[mikey_hates_everything]

They sold unsecured notes that promised returns of up to 25% a year, and ownership shares that offered monthly payouts as high as 2%, according to the complaint.

[shelterguy]

“””I miss Radio Shack.”””

Can I get your phone number??

[Dalberg-Acton]

I also miss Radio Shack.

[broken_clock]

Made a few cool Heath kits at the Shack. Sad it went under.

[Dr. Sivana]

If you liked Heath kits, you would have LOVED Lafayette Electronics.

[Flash Bazbeaux]

The investors were clearly not being Realistic.

[citizen]

I could say “I miss Radio Shack” too.

But I was a different person, back then, and so was the world.

Radio Shack was big when we had, well...radios.

[Leaning Right]

> I miss Radio Shack. <

Me too. I taught physics for many years. And sometimes I would need a specific resistor for a demonstration, let’s say a 5 ohm one.

If I didn’t have one, I could fill out a school purchase form, then send it up the line. Then I’d get my resistor in about three months.

Or I could go down to my local Radio Shack, and buy a two-pack of 5 ohm resistors for a dollar.

[dfwgator]

I miss Fry’s.

[No name given]

Just look at Schwartz Gyorgy and the other demonrats.

[Fresh Wind]

Can I get your phone number??

LOL!

That was my biggest gripe about Radio Shack. You go would in to buy a 50 cent item, like a battery, and they would demand your name, address, and phone number.

[frank ballenger]

Radio Shack.

Where can we go now to get the cassette player head cleaning fluid with little Q-tips?

Not to mention the DVD rewinders on sale.
They used to be somewhere in the back of the store, I think.
Never found them.

[Preachin']

eBay sells that.

[Larry Lucido]

That does not compute.

[frank ballenger]

I feel so much better now.

[PAR35]

unsecured notes that promised returns of up to 25% a year

Well, anything greater than zero would meet an 'up to' promise. That's a cap, not a minimum.

Promising 24% a year in dividends (2% a month) - "as high as" - well, that sounds like a cap as well.

[PAR35]

unsecured notes that promised returns of up to 25% a year

Well, anything greater than zero would meet an 'up to' promise. That's a cap, not a minimum.

Promising 24% a year in dividends (2% a month) - "as high as" - well, that sounds like a cap as well.