The Kansas City Chiefs star Travis Kelce has found himself among the victims of an alleged $35 million Ponzi scheme, as discussed by the ‘Outnumbered’ panel. This case shines a light on financial vulnerabilities even among high-profile individuals. Additionally, a Government Accountability Office report reveals taxpayer fraud costs reaching up to $1.5 billion per day, with significant scrutiny of expenditures such as California’s high-speed rail project.
In another related incident, former Disney actor Erik von Detten has been sued by Sheila and Norman Greenberg, a California couple, for allegedly defrauding them of over $2.1 million. The couple claims they were convinced to invest their retirement savings in overpriced gold coins through von Detten, then associated with Rosland Capital.
The lawsuit, filed in Los Angeles County Superior Court, accuses von Detten and Rosland Capital of financial elder abuse, fraud, breach of fiduciary duty, and conversion. Documents state that the company targeted senior citizens through aggressive marketing tactics. The Greenbergs, influenced by television commercials, were led to believe that investing in gold through Rosland was a safe way to protect their wealth.
The Greenbergs reported that they trusted von Detten, considering him a knowledgeable advisor. They invested heavily, purchasing gold coins at a 60% premium over the market price. Their first transaction alone led to an immediate loss of more than $367,000.
Further pressured into additional investments, the couple made another purchase resulting in a loss of over $418,000. By the end of these transactions, they allege they spent a total of $2,146,958.22 on coins valued at approximately $1,360,925. The coins were reportedly stored at Delaware Depository, with the Greenbergs bearing storage costs.
The complaint also states that in August 2021, the Greenbergs used family trust funds to purchase nearly $200,000 worth of additional gold coins through Rosland, suffering further losses when the value of coins fell short of their purchase price.
By 2025, the Greenbergs began assessing their investments and found discrepancies. They claim an Advantage Gold representative hinted at ethical differences compared to Rosland, prompting Sheila to investigate further, which allegedly uncovered unethical practices by Rosland and von Detten.
They are now seeking at least $900,000 in damages plus punitive damages and prejudgment interest. Von Detten has yet to publicly comment on the lawsuit.
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