SEC: This Ponzi Scheme Involved Buying Modell’s Out Of Bankruptcy

The recent SEC announcement reveals a Ponzi scheme linked to the Modell's sporting goods chain, which famously went bankrupt in 2020. This news is significant as it highlights the ongoing risks of financial fraud, especially in the wake of familiar brands disappearing. Many in the Northeast have fond memories of Modell's, making this revelation particularly shocking. It serves as a reminder to consumers to remain vigilant and informed about the businesses they support.