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RadioShack, Dress Barn and Pier 1 Imports were three of eight retail-brand companies managed by Retail Ecommerce Ventures (REV). In a civil complaint filed in September 2025, the U.S. Securities and Exchange Commission (SEC) alleges that REV raised about $112 million from hundreds of investors, moved money raised for one brand to other companies, used new investor funds to pay some earlier investors, and diverted money for executives’ personal use. These are allegations, not findings that a court has established.
Why these three retail brands were involved
Retail Ecommerce Ventures LLC, co-founded by Taino Adrian Lopez and Alexander Farhang Mehr, served as the holding company and manager for a portfolio of eight companies. The SEC complaint describes REV’s stated strategy as acquiring distressed retailers with recognizable names and turning them into e-commerce-only businesses.
RadioShack Online, LLC, Dress Barn Online, Inc., and Pier 1 Imports Online, Inc. were among the portfolio companies whose offerings are described in the complaint. The brands represented different online retail businesses: electronics, women’s clothing and accessories, and home furnishings and imported decor. Their names and retail histories helped explain the investment pitch; the SEC’s allegations concern the companies’ fundraising and use of investor money.
What investors were offered
The SEC alleges that, from approximately April 2020 through November 2022, offerings by eight REV portfolio companies raised about $112 million from hundreds of investors. The complaint says investors were offered unsecured notes with annualized returns of up to 25%, or equity membership units with monthly preferential dividends of up to 2.083%.
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Those figures describe advertised offering terms in the SEC’s allegations, not returns shown to have been paid to every investor. The stated purpose of the offerings was to acquire predecessor businesses and provide operating capital to the particular company raising the money. The complaint quotes Lopez describing REV’s approach as “one of the best strategies you can invest in,” and says investors were told portfolio companies were “on fire” and that “cash flow is strong.”
How the alleged movement of money worked
Company-specific funds allegedly crossed between brands
The SEC alleges that proceeds raised for particular portfolio companies were transferred elsewhere, despite representations that the money would be used for the relevant company. One example in the complaint is dated February 4, 2022: $1.41 million moved from RadioShack’s account to REV. That day, REV transferred just over $1 million across five brands, including $615,000 to Pier 1 and $225,000 to Dress Barn.
The complaint also cites a $1.7 million direct transfer from RadioShack to Stein Mart in November 2020 and alleges at least $5.9 million in direct transfers between portfolio companies. That figure concerns intercompany transfers; it is separate from the SEC’s alleged $5.9 million in payments to investors using new or other-brand investor money.
Some earlier investors were allegedly paid with later investor money
The SEC separately alleges that at least $5.9 million in returns paid to earlier investors from July through October 2022 came from new investor funds or money associated with other REV brands, rather than company profits. The complaint says the portfolio companies generated some revenue but none generated profits. It describes this use of later funds to make earlier investor payments as Ponzi-like and alleges the defendants began operating a Ponzi scheme.
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These are related but distinct allegations: money moving between portfolio companies is not the same transaction as using new investor funds to pay earlier investors. The complaint says late payments began by August 2022 and missed payments occurred en masse by at least September 2022.
Executives allegedly diverted money for personal use
The SEC alleges that Lopez and Mehr misappropriated approximately $16.1 million in investor funds for personal use: about $12.5 million attributed to Lopez and $3.6 million to Mehr. The SEC’s September 2025 summary describes the agency’s claims and requested relief; it does not establish that a court has found the allegations true.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the SEC asked the court to do
The SEC says it filed the civil case on September 25, 2025, in the U.S. District Court for the Southern District of Florida. It sought permanent injunctions, civil penalties, officer-and-director bars, and disgorgement with prejudgment interest from Lopez and Mehr. The complaint and the agency’s release report the filing and requested relief; they do not establish a later case outcome.
The primary filings are the SEC complaint, Case No. 1:25-cv-24356, filed September 23, 2025, and the agency’s Litigation Release 26413, dated September 25, 2025. The SEC’s characterization should therefore be read as an allegation in a civil enforcement case, not as a final adjudicated conclusion.
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