Erik von Detten, the former Disney star known for his roles in “The Princess Diaries” and “Brink!” is facing a lawsuit alleging elder abuse and fraud after an elderly couple claimed he persuaded them to invest more than $2 million of their retirement savings in significantly overpriced gold coins. The lawsuit, filed in California in May, names von Detten, 44, and his employer, precious metals company Rosland Capital, as defendants. Sheila Greenberg, 85, and her husband, Norman Greenberg, 97, allege they lost approximately $900,000 after purchasing gold coins through the company.
Rosland Capital has ceased operations and declared bankruptcy in July, listing some $64 million in liabilities and just $500,000 in assets. According to filings in the bankruptcy case, the company has faced scrutiny from the New York Attorney General’s Office and the Securities and Exchange Commission. The creditors’ committee is seeking to subpoena Von Detten as it investigates the failure of the company, saying it appears he “played an instrumental part in the Debtor’s business and its financial collapse.” “The Greenbergs’ story is not unique,” the creditors’ committee alleges.
Creditors, including the other Committee members, have described remarkably similar experiences: trust cultivated, expertise professed, reliance encouraged, and substantial savings ultimately lost with zero information about where their money has gone.” Rosland advertised on Fox News and Newsmax with spots starring actor William Devane, who pitched gold coins as a hedge against inflation and other sources of instability. Retirees were encouraged to convert their IRAs into gold-backed funds, and were offered “a free safe to store your gold.” According to their lawsuit, the Greenbergs contacted Rosland Capital in 2020 after seeing an ad on TV. They were connected with von Detten, who had joined the company in 2018 after largely stepping away from acting.
The Greenbergs say they told von Detten they had limited knowledge of the gold market but approximately $2 million available in retirement savings. They allege that von Detten presented himself as an experienced adviser and encouraged them to purchase Lady Liberty gold coins as an investment. Von Detten did not immediately respond to a request for comment.
Rosland reported $151 million in revenues in 2021. But according to the company’s first-day filing in bankruptcy court, the company suffered “excessive cash outflows” and racked up net losses of $24 million from 2022-25. The rising cost of gold also put a strain on the company’s business, as it was unable to keep up with customer demand, resulting in a months-long backlog in orders.
When the company ceased operations, there were about 470 messages and voicemails either demanding refunds or demanding delivery of gold products, according to the first-day motion. The creditors’ committee, however, does not appear to believe that the business simply failed due to deteriorating market conditions. Von Detten was a familiar face in Disney productions throughout he late 1990s and early 2000s.
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