Overview

• The SEC says Retail Ecommerce Ventures raised more than $230 million from about 660 investors between 2020 and 2022 through high-yield notes and equity.
• At least $5.9 million of investor payouts were funded with other investors’ money, according to the complaint.
• The filing alleges roughly $16.1 million was diverted for the personal use of founders Alex Mehr and Tai Lopez.
• Offerings touted up to 25% annual returns and monthly dividends near 2% while portfolio brands generated no profits, the SEC says.
• COO Maya Burkenroad is named as a defendant, and several acquired brands were later resold to Omni Retail Enterprises after defaults.