If real people hadn't lost their life savings in the $RILY fraud, these numbers would be downright laughable. I've never seen a scam like this linger on despite their inability to file financials—much less accurate financials. It has been one fake press release and lie after… https://t.co/JO5ZJn5cGU
🚨 $RILY #Fraud and some https://t.co/9TN0Pce3Em
Oh Bryant where is the $7 go private? Such a Fraud $RILY
The financial situation of $RILY, a company linked to Bryant Riley and Brian Kahn, has come under scrutiny amid allegations of fraud and significant financial losses. Reports indicate that Franchise Group Inc.'s commercial mortgage-backed securities, valued at $6.18 billion, are at risk due to the ongoing issues with $RILY. The company has not released financial statements since March, raising concerns among investors. Observers note that $RILY's stock has fallen below $5, a stark contrast to its previous trading price of $60. The anticipated losses for $RILY are projected to be between $270 million and $280 million, translating to a loss of approximately $8.85 to $9.18 per diluted common share. Critics have described the situation as a 'circus' and a 'crime scene,' highlighting the serious implications for those who have invested in the company.