#investor-losses

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#sec-enforcement #securities-fraud #retail-brand-rollups #diamond-scam #accounting-fraud #insolvency
fromSun Sentinel
3 hours ago

Investors spent $112 million to fund online rebirth of RadioShack, Pier 1 Imports and others. It was fraud, SEC says.

In a complaint filed in U.S. District Court in Miami, the Securities and Exchange Commission on Thursday charged co-founders of Retail Ecommerce Ventures LLC with carrying out fraudulent securities offerings, misusing investor funds and making Ponzi-like payments to investors. According to the SEC complaint, the company's primary business was to purchase distressed but recognizable retail companies and convert them into online-only operations.
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fromIrish Independent
3 weeks ago

Jewellery boss 'made staff pose as customers in 170m diamond scam'

Jeweller Vashi Dominguez allegedly ran a massive diamond fraud, leaving investors owed over £100m while actual gems and sales were massively overstated.
fromIndependent
1 month ago

Whiskey on the rocks: Backers fear the 'liquid gold' bubble has burst

Investors in Irish whiskey distilleries are panicking as the global slowdown in alcohol continues to hammer the industry, with some of the most promising producers recently shutting up shop.
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