Erik von Detten is facing a lawsuit that alleges he committed fraud and elder abuse. An elderly couple claimed von Detten convinced them to invest more than $2 million of their retirement funds into overpriced gold coins.
The Greenbergs first contacted Rosland Capital in 2020. Von Detten had joined Rosland Capital in 2018.
The Greenbergs informed von Detten that they possessed approximately $2 million in retirement savings. Von Detten then urged the couple to buy Lady Liberty gold coins.
Rosland Capital reported revenues of $151 million in 2021. Sales representatives received between 15% and 35% of the profit from every order.
Approximately 470 messages and voicemails were sent demanding refunds or the delivery of gold products after the company stopped operations. The committee’s attorneys stated, "The Committee believes the facts point to something far more troubling: a business that preyed on a vulnerable population, stole customer money while its ability to perform was collapsing, lied to its own customers about what their money would be used for, and ultimately left creditors to ask whether those funds were misused, diverted, transferred to insiders or affiliates, or simply consumed to keep the scheme alive."
