Former Disney actor Erik von Detten and his employer Rosland Capital are facing a lawsuit filed by an elderly California couple, Sheila Greenberg (85) and Norman Greenberg (97), in Los Angeles County Superior Court on May 11 [1]. The couple alleges they were convinced to invest more than $2.1 million of their retirement savings into overpriced gold coins, with the lawsuit charging financial elder abuse, fraud, breach of fiduciary duty, constructive fraud, and conversion [1].
According to court documents, the Greenbergs contacted Rosland Capital in 2020 after viewing television commercials promoting gold as a wealth protection strategy [1]. Von Detten, identified as one of the company's top advisors, allegedly earned the couple's trust by positioning himself as an expert [1]. On October 19, 2020, the couple made their first purchase of Lady Liberty gold coins totaling approximately $999,000—with Sheila paying $599,654.83 for 797 coins and Norman paying $399,519.09 for 531 coins [1]. The complaint alleges these coins carried a roughly 60% premium, with the couple paying approximately $3,009.56 per ounce when the spot price of gold was around $1,903 per ounce [1]. The lawsuit claims this first transaction resulted in an immediate loss exceeding $367,000 [1].
The couple alleges von Detten continued pressuring them to invest additional funds, with Rosland Capital allegedly viewing them as a "whale" after learning of their available assets [1]. On November 5, 2020, a second transaction totaled more than $1.14 million, with Sheila purchasing 885 additional coins for $677,644.50 and Norman buying 614 coins for $470,139.80 [1]. This second transaction allegedly resulted in an immediate loss exceeding $418,000 [1]. In total, the Greenbergs claim they paid $2,146,958.22 for the coins [1]. The complaint further alleges that Rosland Capital deliberately designed its marketing strategy—including television commercials, internet advertising, direct mail brochures, and high-pressure sales tactics—to specifically target senior citizens [1].
CONCLUSION
The lawsuit against Erik von Detten and Rosland Capital represents a significant elder abuse case involving alleged fraudulent precious metals sales practices targeting retirees. The case highlights aggressive sales tactics and substantial markups in the gold coin market, with the couple suffering over $785,000 in combined losses across two transactions within weeks of purchase.