A pair of e-commerce entrepreneurs who bought a number of well-known retail brands — including RadioShack, Modell's Sporting Goods and Pier 1 Imports — out of bankruptcy are accused of running a Ponzi scheme.

The Securities and Exchange Commission on Monday accused Alex Mehr and Tai Lopez, founders of the Miami-based Retail Ecommerce Ventures (REV), of defrauding investors out of approximately $112 million.

Through their holding company, Mehr and Lopez acquired distressed brick-and-mortar companies in order to turn them into successful, online-only brands. Dress Barn and Linens 'n Things were also among their acquisitions.

REV acquired RadioShack in 2020, three years after the nearly century-old electronics chain filed for its second bankruptcy. RadioShack first filed for Chapter 11

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