How Radio Shack, Dress Barn, and Pier 1 Imports became part of a massive Ponzi scheme

RadioShack. Modell's Sporting Goods. Pier 1 Imports. Dress Barn. Linens 'n Things.

What do they all have in common? These once well-known brick-and-mortar retail brands eventually hit hard times and were then acquired by Retail Ecommerce Ventures (REV), run by Tai Lopez and Alex Mehr.

Now, the Securities and Exchange Commission (SEC) is accusing Lopez and Mehr of running a $112 million Ponzi scheme, using these brands in order to defraud investors.

“REV’s primary business was identifying distressed companies with name brand recognition, raising funds from investors in order to purchase the brand’s assets, and converting them into successful e-commerce-only businesses,” reads the SEC's lawsuit. Lopez and Mehr first began acquiring struggling retail brand names in 2020. Between 2020 a