INVESTORS FALL VICTIM TO ALLEGED $112M RETAIL PONZI SCHEME: TRIAL BALANCE
https://s.yimg.com/ny/api/res/1.2/VhAxdjAoKCRLNVDjWQudfA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02NzU-/https://media.zenfs.com/en/cfo_com_600/3547d4ac6f110a1f09993aa8caa18437
✍️ The founders of Retail Ecommerce Ventures, a company that acquired legacy retail brands, have been charged with orchestrating a $112 million Ponzi scheme by the Securities and Exchange Commission.
👉 Retail Ecommerce Ventures charged with orchestrating a $112 million Ponzi scheme 👉 Founders raised money from hundreds of investors through fraudulent securities offerings 👉 Company promised high returns to investors, but portfolio companies were not profitable 👉 Founders allegedly paid existing investors using new investor funds 👉 Founders misappropriated $16 million for personal use
-- #TaiLopez #AlexMehr #MayaBurkenroad #ChristopherWaller #BethHammack #RaphaelBostic #PhilipJefferson #AustanGoolsbee #LorieLogan #RyanGoepel #business
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