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Buyers of RadioShack Accused of Running $112 Million Ponzi Scheme


An anonymous reader quotes a report from CBS News: 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…



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by Slashdot

An anonymous reader quotes a report from Reuters: Privacy activists say proposed changes to Europe’s landmark privacy law, including making it easier for Big Tech to harvest Europeans’ personal data for AI training, would flout EU case law and gut the legislation. The changes proposed by the European Commission are part of a drive to simplify a slew of laws adopted in recent years on technology, environmental and financial issues which have in turn faced pushback from… Source link

by Slashdot

The European Commission is considering turning its non-binding 2020 guidance on “high-risk vendors” into a legal requirement that would effectively force EU member states to phase out Huawei and ZTE from mobile and fixed-line networks. Bloomberg reports: Commission Vice President Henna Virkkunen wants to convert the European Commission’s 2020 recommendation to stop using high-risk vendors in mobile networks into a legal requirement, according to the people, who asked not… Source link

by Slashdot

An anonymous reader quotes a report from Gizmodo: It appears that Neom — Saudi Arabia’s hugely expensive, architecturally bizarre urban development project — is floundering and close to collapse. A new report from the Financial Times cites high-level sources within the project to paint a picture of dysfunction and failure at the heart of the quixotic effort. Neom was envisioned as a vast series of fantastical urban developments spread across the coast of the Red Sea. At… Source link