SEC v. Taino Adrian Lopez

Taino Lopez, Alexander Mehr, and Maya Burkenroad allegedly conducted a series of fraudulent securities offerings, misused investor funds, and made Ponzi-like payments to investors. According to the SEC’s complaint, Lopez and Mehr made material misstatements about the success and profitability of REV’s business model and the REV Retailer Brands, as well as the safety of investors’ investments. The Defendants allegedly transferred at least $5.9 million in investor proceeds directly between portfolio companies. At least $5.9 million of the returns distributed to investors appears to have been Ponzi-like payments funded by other investors. Defendants allegedly misappropriated approximately $16.1 million in investor funds for Lopez’s and Mehr’s personal use.

Summary generated from official Securities and Exchange Commission press release