Former child actor Erik von Detten is being sued over alleged elder abuse and fraud by an elderly couple who claim they lost hundreds of thousands of dollars after investing in gold through his employer, Rosland Capital.
Norman Greenberg, 97, and his wife, Sheila Greenberg, 85, filed the lawsuit against von Detten and the precious-metals company, according to court documents.
The couple claims Rosland Capital’s business appealed to older people and sought to exploit their fears and vulnerability. They say they contacted the company after seeing a television advert in 2020 and were subsequently put in touch with von Detten.
The Greenbergs allege they told him they knew little about gold but had about $2 million available to invest. They claim von Detten said he was knowledgeable about the precious metal and could assist them.
Gold investment alleged to have fallen short of purchase price
The couple says its first purchase consisted of Lady Liberty gold coins worth about $1 million. Rather than being delivered to them, the coins were sent to a warehouse for storage, according to the allegations.
They later made a second purchase of coins worth a further $1 million. The Greenbergs claim they eventually discovered that the coins were worth significantly less than the amount they had paid.
The lawsuit alleges that the couple invested $2.1 million in total, while the coins were worth only $1.3 million. They claim to have suffered losses of about $900,000 and are seeking punitive damages.
Rosland Capital filed for bankruptcy several months after the lawsuit was brought. The allegations against the company and von Detten have not been established in court.
