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An elderly couple in Southern California alleges they invested more than 2.3 million yuan in buying gold coins but were defrauded of the high prices due to a business promoted by a precious metals company and a former child star. He suffered losses of approximately 900,000 yuan and has requested compensation from the court.
I originally wanted to buy gold to protect my pension fund, but I may have to buy gold coins that are not worth the money. An elderly couple in California recently filed a lawsuit in Los Angeles County Superior Court against former Disney child star Eric Von Detten and precious metals company Roseland Capital, claiming he persuaded them to invest more than 2.3 million yuan in gold coins, causing a loss of about 900,000 yuan.
USA TODAY reported that the plaintiff livesSan Diego Sheila Greenberg, 85, and her husband Norman Greenberg, 97. The defendants in the case include Eric von Detten, who starred in the film “The Princess Diaries”, and the gold dealer where he worked.
The couple said in the complaint that in 2020 they saw a TV advertisement of Roseland Capital, which promoted opening a gold personal account.retire The account generates interest. They have no previous experience investing in gold and hope to find a trusted professional who is familiar with the precious metals to help them arrange retirement assets.
When the two contacted Dayton, he revealed that he had a total of approximately $2 million in his retirement accounts. The couple said they were very impressed with Dayton’s gold knowledge and therefore trusted his recommendation and believed the purchase price was appropriate to protect their retirement assets.
The complaint reported that the two first spent nearly 1 million yuan to buy “Statue of Liberty” gold coins in October 2020, and then invested more than 1.14 million yuan in November of the same year. He said the value of the gold coins purchased in the two transactions was much lower than the selling price. These two purchases alone resulted in a price difference of approximately 780,000 yuan.
The couple also said that after the retirement account funds were exhausted, the other party continued to promote them, and they used the family trust fund to buy gold coins in 2021. The gold coins in question were not delivered directly to the home, but were stored in a secure institution, and both people also had to pay account and storage fees.
Both reported that gold dealers took advantage of older people’s concerns about financial security in retirement and attracted customers with gold’s stability, but sold gold coins at substantial markups. They are seeking recovery of damages and asking the court to award punitive damages.
Roseland Capital filed for bankruptcy on July 2, according to People. At the time of media reports, the defendant had not yet responded to the related complaint in court, and the case was scheduled for a pre-trial conference on November 9. The case is still in the civil litigation stage, and whether the plaintiff’s statement is true or not is yet to be heard by the court.
Summary FAQ
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The plaintiffs are Sheila Greenberg, 85, and her husband Norman Greenberg, 97, who live in San Diego. Both claimed that they accepted the promotion and purchased the gold coins because of the safety of their retirement assets.
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After seeing a Roseland Capital ad, they wanted to use gold to protect their retirement funds. He thought that Eric von Detten was very professional in gold matters, so he invested money to buy gold coins one after another. Ultimately, he was accused of purchasing goods at a price far below the selling price.
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The couple requested compensation for the losses and requested the court to award punitive damages; Roseland Capital has filed for bankruptcy, and the defendants have not formally responded to the court at the time of reporting. A pre-trial conference on the case is expected to be held on November 9.
