Two entrepreneurs who bought a number of well-known bankrupt retail chains, such as RadioShack, Pier 1 Imports, and Modell’s Sporting Goods, have been accused of operating a $112 million Ponzi scheme.

A pair of flashy e-commerce entrepreneurs who bought bankrupt retailers like Pier 1 Imports, RadioShack, and Modell’s Sporting Goods were accused by the feds this week of running a Ponzi scheme — and ...