California mom Michelle Mack is accused of leading an organized retail theft ring that stole nearly $8 million worth of makeup and luxury goods from stores across the U.S., including over 200 Ulta stores. The scheme involved paying for airfares, hotels, and car rentals for women to steal goods, which were then sold at a discount on her Amazon Marketplace storefront. Mack and her husband face 140 felony charges, including conspiracy to commit organized retail theft, grand theft, and receipt of stolen property, and have pleaded not guilty. The investigation is ongoing, and authorities believe the total loss might exceed $8 million.
Michelle Mack, a wealthy California mom, is accused of leading a nationwide shoplifting ring that stole millions of dollars worth of merchandise from stores across the country over a decade. Operating under the name 'California Girls', the gang targeted stores like LensCrafters and Ulta, shipping the stolen goods to Mack's home before selling them at discounted prices on Amazon Marketplace. Mack and her co-defendants face numerous charges, and the investigation is ongoing.
Thrasio, a major player in e-commerce aggregation, has filed for Chapter 11 bankruptcy protection to address its substantial debt. The company has secured $90 million in emergency financing and plans to erase $495 million of its existing debt. Thrasio's struggles reflect the challenges faced by late-stage tech companies amid a downturn in fundraising. The company's ambitious roll-up play, which aimed to consolidate smaller e-commerce businesses, ultimately faltered, leading to layoffs and a change in leadership. While Thrasio's collapse is significant, other companies in the e-commerce aggregation space have also raised substantial funding, indicating that similar challenges may lie ahead for the industry.
