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Tai Lopez charged by SEC in ponzi scheme

https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26413
37•handfuloflight•1h ago

Comments

softwaredoug•1h ago
If they had just thought to get in the Trump cabinet they could have gotten away with it.
altairprime•1h ago
Three REV executives were charged:

> Taino Lopez and Alexander Mehr, co-founders of Retail Ecommerce Ventures LLC (“REV”), and its Chief Operating Officer, Maya Burkenroad

ohyoutravel•1h ago
He needs to make a donation to the administration asap if he’s going to get this dropped.
JackWilli•58m ago
he is going to have plenty of time to finally read those books and acquire knowledge in prison
perihelions•49m ago
Previous context?

https://news.ycombinator.com/item?id=29607989 ("RadioShack – Bringing Cryptocurrency to the Mainstream (radioshack.com)" (2021))

https://news.ycombinator.com/item?id=31958998 ("RadioShack reinvents itself as a crypto platform with wild tweets (washingtonpost.com)" (2022))

(Amusing to count five different HN'ers calling it a "scam", and two more calling it a "Ponzi").

Hikikomori•46m ago
Here in my garage
trollbridge•42m ago
Circa 2010, I met Tai and he wanted some work done for his portfolio of dating websites he had back then. (He had a whole bunch of them targeted to various ethnic groups, religious subgroups and so on.)

It became apparent that (a) he had a huge pile of messy PHP, WordPress-based sites, and then (b) expressed contempt for paying $35 an hour for programmers since his opinion was you could get programmers in the third world for $5 an hour. He negotiated me down to $25. I ended up declining.

Like many people who crow about how they’re a “millionaire”, when it came time to show the money, he was suddenly really concerned about very small amounts of money here and there.

ariwilson•29m ago
I don't know Tai Lopez and he seems like an asshole based on his public persona but I think you'd be surprised by the number of (especially first generation) millionaires who will negotiate over pennies. The easiest way to have a lot of money is to earn a lot and not spend a lot.
bitwize•8m ago
A study found that most American millionaires lived in modest homes and drove used American cars. They made their wealth by being concerned about relatively small amounts of money because it adds up. When we think "millionaire" we think of the dream that is sold to us by Hollywood—mansions, fancy cars, endless parties. But entertainers are paid in the millions and then encouraged to live like billionaires, so that they're desperate enough to continue being slaves to the entertainment-industrial complex to keep the gravy train going.

But $35/hr was a pittance for a programmer even in 2010. Tai Lopez is a gigantic tool for cheaping out on that.

ctkhn•38m ago
I'm here in my cell
modeless•35m ago
People may remember Tai Lopez from his "Here in my garage, just bought this new Lamborghini here" YouTube ad, subject of several parodies such as: https://www.youtube.com/watch?v=0GIwTG8V-Ko

I think he was one of the first to realize that you could take YouTube videos that are several minutes long and turn them into pre-roll ads inserted in front of other videos. I honestly know nothing else about him and I hope to keep it that way.

ubermonkey•33m ago
I only clicked into this thread hoping someone would link exactly that video.
Hikikomori•15m ago
I've had that video in my saved videos playlist for so long now.
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