Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 09/28/2025 11:17:11 AM PDT by 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...
(Excerpt) Read more at foxbusiness.com ...
|
|
Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. |
Radio Shack was founded in 1921, just a bit before WWII. I believe the name originated from within the ham radio community, where many hams actually DID have shacks for their equipment (wives, in many cases, demanded that).
If you ever heard a spark transmitter in operation, you would understand.
An interesting background tidbit. The founders knew the back story, the customers knew it for where to go for supplies, electronic tools, kits and radios & similar gadgets.
I guess Popular Mechanics mag is still around in some form.
These are sometimes centered on churches, especially urban ones.
I wanted to build an INTEROCITOR back in the day
Oay, a different back story take...
“I miss Radio Shack.”
Back when they actually sold electronic parts.
http://shop.heathkit.com/search?type=product%2Cquery&options%5Bprefix%5D=last&q=INTEROCITOR
Not available at HeathKit.
Bell and Howell, yes, another exploited name brand.
The Craftsman tools brand is now owned by Stanley Black & Decker and idk who owns them lol
I worked at Radio Shack many years and had quite a bit of RS stock. I had to sell my stock years later. At the time it was the largest retail company in the world.
Alas.
I worked at Radio Shack many years and had quite a bit of RS stock. I had to sell my stock years later. At the time it was the largest retail company in the world.
Alas.
Easy to make those up on the spot.
Maybe Exeter can send you a kit!
Apparently, the alleged perps are as well.
The SEC is totally worthless and might as well be dissolved to save money. There’s obvious instances of insider trading going on all the time and the SEC does nothing about it.
unusual_whales
@unusual_whales
Look at this.
JUST BEFORE the announcement that Electronic Arts, $EA, was to go private, there was $EA 180 calls expiring literally next week on 10/03.
They were Early volume at around $0.37 per contract.
They sold for nearly $15.
They made 1.2 million from $30,000 in less than a few hours.
Someone always knows.
https://x.com/unusual_whales/status/1971953223809618323
The other day I needed a small doo-hicky to complete a project that was time sensitive. Checked the big box, they didn't carry parts. Finally went to our local independent hardware where I snagged the last one. From now on I go there first.
Craftsman - now tools from The Planet of the Apes. Same pricing.
and Fresh Wind did, too.
And what about a tube tester and vacuum tubes?
LOL!
What’s weird is that Tandy Electronics and Radio Shack were owned by the Tandy Corporation, which began as a leather goods company.
Tandy still is in the leather goods business today, although after Radio Shack collapsed they were kicked around the acquisition field for years before the company stabilized.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.