SEC in ‘active and detailed’ settlement talks with accused scammer Tai Lopez

The Securities and Exchange Commission and three defendants in a civil enforcement case, including prominent social media influencer Taino “Tai” Lopez, say settlement negotiations are heating up.

All parties seek more time to try to resolve the matter, according to a Friday filing with the Southern District of Florida.

Federal authorities have charged the leadership of Retail Ecommerce Ventures with orchestrating a massive fraudulent securities scheme that allegedly raised more than $230 million from 660 investors nationwide.

In a joint status update filed pursuant to a court order, the SEC and defendants Taino A. Lopez, Alexander F. Mehr and Maya R. Burkenroad said they remain engaged in “active and detailed” discussions aimed at settling.

The parties said negotiations have included Zoom presentations, email communications and ongoing document production tied to issues raised during talks. According to the filing, SEC staff have been reviewing materials provided by the defendants, a process that has prompted additional inquiries and follow-up meetings.

While acknowledging that discussions should not be prolonged unnecessarily, the parties said they need additional time to review and analyze detailed financial information. The extension could allow SEC staff to make a recommendation to the agency’s commissioners in Washington on whether to resolve the case in its entirety.

Name-brand retailers sought

According to the SEC complaint, Mehr and Lopez used REV to buy up retail names on cheap terms. The partners bought RadioShack, Pier 1 Imports, Dressbarn, Modell’s Sporting Goods and Linens ‘N Things, with an eye on turning them into online sellers.

Lopez famously touted the approach in online promotional videos as “one of the best strategies you can invest in.”

The SEC alleges that of the $230 million raised, approximately $112 million was sourced through fraudulent offerings across eight specific REV "Retailer Brands."

The defendants allegedly lured investors through aggressive social media campaigns on YouTube, Twitter and Facebook, as well as bi-weekly Zoom calls and lavish in-person events in Las Vegas and Puerto Rico.

Investors were offered unsecured notes promising annualized returns as high as 25% or equity units with monthly dividends of up to 2.083%. Lopez reportedly justified these high returns by claiming the company acquired distressed assets "cheaply" and maintained low overhead by employing overseas staff.

Lopez, 48, who produces a podcast, “The Tai Lopez Show,” hasn’t addressed the company’s collapse and the losses suffered by his investors, the Wall Street Journal reported. The day after the SEC filed suit, Lopez posted on X: “Never doom. No matter how horrible the situation, don’t ever think you’re doomed. Unless you are dead, all defeat is psychological.”

The parties asked the court to allow negotiations to continue while the case remains administratively closed. They said they will provide an update by April 10, indicating whether a settlement agreement has been reached or whether the case should be returned to the court’s active docket and new deadlines set.

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