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An anonymous reader quotes a report from CBS News: A pair of e-commerce entrepreneurs who bought a number of well-known retail brands -- including RadioShack, Modell's Sporting Goods and Pier 1 Imports -- out of bankruptcy are accused of running a Ponzi scheme. The Securities and Exchange Commission on Monday accused Alex Mehr and Tai Lopez, founders of the Miami-based Retail Ecommerce Ventures (REV), of defrauding investors out of approximately $112 million. Through their holding company, Mehr and Lopez acquired distressed brick-and-mortar companies in order to turn them into successful, online-only brands. Dress Barn and Linens 'n Things were also among their acquisitions. [...] The SEC's suit alleges that between 2020 and 2022, Mehr and Lopez, "made material misrepresentations" to hundreds of investors about the bankrupt retailers they had acquired. For example, to entice individuals to invest in their acquisitions, they said their portfolio companies were "on fire" and that "cash flow is strong." They also told prospective backers that money raised for a company would only be invested in that specific firm. That proved not to be the case, according to the SEC's lawsuit, which was filed Monday in the U.S. District Court for the Southern District of Florida. "Contrary to these representations, while some of the REV Retailer Brands generated revenue, none generated any profits," the suit states. "Consequently, in order to pay interest, dividends and maturing note payments, Defendants resorted to using a combination of loans from outside lenders, merchant cash advances, money raised from new and existing investors, and transfers from other portfolio companies to cover obligations." The SEC alleges that at least $5.9 million of returns paid to investors were actually Ponzi-like payments funded by other investors, as opposed to companies' profits. Additionally, the federal regulatory agency claims that Mehr and Lopez allocated $16 million worth of investments for their own use, according to the filing.

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The FCC mistakenly published a 163-page PDF containing detailed schematics for Apple's upcoming iPhone 16e, despite Apple explicitly requesting indefinite confidentiality to protect trade secrets. AppleInsider reports: A cover letter is also distributed alongside the schematics, addressed to the FCC and dated September 16, 2024. The letter from Apple is a request for the confidential treatment of documents that are filed with the FCC. [...] The letter from Apple requests a series of documents are withheld from public viewing "indefinitely." The justification is that they contain "confidential and proprietary trade secrets" that are not disclosed to the public post-release, due to giving competitors an "unfair advantage." The list of documents, Apple states, includes: Block Diagrams, Electrical Schematic Diagrams, Technical Descriptions, Product Specifications, Antenna Locations, Tune-Up Procedure, and Software Security Description. Other documents, such as external and internal photographs, shots of the test setup, and the user manual, are deemed to be less damaging and have "short-term confidentiality" requirements. In those cases, Apple asks for short-term confidentiality for 180 days after the equipment authorization is granted by the FCC.

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The Taliban have imposed a nationwide telecommunications shutdown in Afghanistan, severing fibre-optic connections and cutting off internet, mobile, and satellite services as part of "morality" measures. Netblock is currently tracking the outages. The BBC reports: Since seizing power in 2021, the Taliban have imposed numerous restrictions in accordance with their interpretation of Islamic Sharia law. Flights from Kabul airport have also been disrupted, according to reports. Several people in Kabul have told the BBC that their fibre-optic internet stopped working towards the end of the working day, around17:00 local time (12:30 GMT). Because of this, it is understood many people will not notice the impact until Tuesday morning, when banking services and other businesses are due to resume. [...] The Taliban earlier said an alternative route for internet access would be created, without giving any details. Business leaders at the time warned that if the internet ban continued their activities would be seriously hit. Hamid Haidari, former editor-in-chief of Afghan news channel 1TV, said after the shutdown that "loneliness enveloped the entire country." "Afghanistan has now officially taken first place in the competition with North Korea for [internet] disconnection" he said on X.

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An anonymous reader quotes a report from Politico: California Gov. Gavin Newsom signed a first-in-the-nation law on Monday that will force major AI companies to reveal their safety protocols -- marking the end of a lobbying battle with big tech companies like ChatGPT maker OpenAI and Meta and setting the groundwork for a potential national standard. The proposal was the second attempt by the author, ambitious San Francisco Democrat state Sen. Scott Wiener, to pass such legislation after Newsom vetoed a broader measure last year that set off an international debate. It is already being watched in Congress and other states as an example to follow as lawmakers seek to rein in an emerging technology that has been embraced by the Trump administration in the race against China, but which has also prompted concerns for its potential to create harms.

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F-Droid has warned that Google's upcoming developer verification program will kill the free and open source app repository. Google announced plans several weeks ago to force all Android app developers to register their apps and identity with the company. Apps not validated by Google will not be installable on certified Android devices. F-Droid says it cannot require developers to register with Google or take over app identifiers to register for them. The site operators say doing so would effectively take over distribution rights from app authors. Google plans to begin testing the verification scheme in the coming weeks and may charge registration fees. Unverified apps will start being blocked next year in Brazil, Indonesia, Singapore, and Thailand before expanding globally in 2027. F-Droid is calling on US and EU regulators to intervene.

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