When the pandemic sparked a wave of retail bankruptcies, Retail Ecommerce Ventures picked up a slew of iconic brands on the cheap, with the aim to revive them as online-first businesses. The firm resorted to loans from outside lenders, cash advances, and funds from new and existing investors to cover shortfalls, the SEC alleged. The regulator accused the firm of raising $112 million from hundreds of investors through fraudulent offerings. Lopez and Mehr, whom the SEC also accused of diverting about $16.1 million for themselves, didn’t immediately respond to requests for comment. The SEC seeks civil penalties, a return of ill-gotten gains and a court order barring the defendants from serving as officers or directors in other companies.