Radioshack and Pier 1 Consumers for using Run $ 112m Ponza Scheme with SEC in Fraud case Miami
Cotton Patch Cafe CEO CEO AND TGI Friday Head Brandon Coleman, John John Ilorder Speat to Fox News ‘Heydays’ Waxened with America
Securities and Exchange Commission (SEC) accuses men to buy Belprupture Chains, Modell Sports, and Importing Pier 1 Using Investors for investors in millions of dollars.
The complaint against the US district in the Southern of Florida District on Tuesday, blaming Miami-Based Retail Receiptors.
Between April 2020 to NOV. 2022, raise money for selling two types of investment. They sold unpredictable notes that promise to return to 25% per year, as well as the number of ownerships that monthly heights rose up to 2%, according to complaint.
RIP America’s merchants, restaurants fall into extinction, closure
A homeless man sleeps in front of a closed shop in Hollywood Boulevard on July 16, 2020, in Hollywood, California. (Frederic J. Brown / AFP Via / Getty Photos)
They also say that money will be used to buy hard work products and support, but sec claim Mehr and Lopez mislead investors how well the businesses are doing.
The complaint is identified at least one promotional video, which is available in the Internet, where Lopez Thout Revet’s Aions Asses as “one of the best techniques you can plant.” The SEC again said that he and Lopez were sure that investors had investors that and some of the business companies would be “burning” and “a mighty cash. ”
Pharmacy pharmacy closure 114 Other stores in many provinces
A man leaves the previous radiothack store in Chelsea’s curtains, Mariy 9, 2017, New York City. (Draw angers / getty pictures)
They guarantees investors that the money raised a portfolio company will be used for the particular company, and the Rev and Revailer retailer products have never failed to pay one investor, the complaint continued. However, SECatted some Rev Realer Brands produced income, no one of them produced profits.
Payment of interest, payments, payments and mehr and lopez have turned a combination of loans from external investors, the development of available financial, and transfers to portfolios covering bonds, means set.
The closed shop 1 Fairfax shop, Virginia, on May 21, 2020. (Andrew Harrer / Bloomberga Via / Getty Photos)
The family-owned pharmacy closes its doors after more than 100 years in the business
At least $ 5.9 million of investor distribution “was a payment such as Ponge-as additional,” said a complaint. Mehr and Lopez were accused of misusing $ 16,1 investments in investment fees “for their use.”
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Overall, Rev and its related companies, including Dress Barn, linen things, Pier 1 and radioshack, He lifted about $ 112 million from investors. When they fail to reduce energy, debt take products they sell to a new company, Monni, OLNI, LLC sales businesses.
