Matt Levine’s Money Stuff: There Was a RadioShack Ponzi

RadioShack ponzi

Does this sound familiar?

REV’s primary business was purchasing distressed retail companies with name brand recognition and converting them into e-commerce only businesses. The securities offerings at issue involved offerings by REV and eight REV portfolio companies: Brahms LLC (“Brahms”), Dress Barn Online, Inc. (“Dress Barn”), Franklin Mint Online, LLC (“Franklin Mint”), Linens ‘N Things Online, Inc. (“Linens ‘N Things”), Modell’s Sporting Goods Online, Inc. (“Modell’s”), Pier 1 Imports Online, Inc. (“Pier 1”), RadioShack Online, LLC (“RadioShack”) and Stein Mart Online, Inc. (“Stein Mart”).

Franklin Mint! RadioShack! Bed Bath & Beyond! GameStop! No wait. Not those. Just the first two. ...