Taino “Tai” Lopez was living proof the American dream was still attainable for young men willing to bet on themselves. The entrepreneur hosted parties at a mansion in Beverly Hills and boasted about the black Lamborghini in his garage. The college dropout had made a name for himself on social media by offering get-rich-quick advice and self-help courses. He urged his followers to invest in a new company he had started that was scooping up distressed retailers on the cheap—RadioShack, Pier 1 Imports, Dressbarn, Modell’s Sporting Goods and Linens ‘N Things—with a promise to turn them into e-commerce winners. Sean…

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