Former Disney Star Erik von Detten Sued for Elder Abuse Over $2.1 Million Gold Coin Investment

Former Disney actor Erik von Detten is facing a lawsuit accusing him of financial elder abuse and fraud, stemming from allegations that he convinced an elderly couple to invest over $2.1 million of their retirement savings into overpriced gold coins.

Sheila and Norman Greenberg, aged 85 and 97 respectively, filed the lawsuit in Los Angeles County Superior Court against von Detten and his former employer, Rosland Capital. The complaint, lodged on May 11, asserts claims of financial elder abuse, fraud, breach of fiduciary duty, constructive fraud, and conversion. Court documents obtained by Fox News Digital suggest that Rosland Capital's marketing, including television and internet advertisements, direct mail, and high-pressure sales tactics, was designed to target senior citizens.

The Greenbergs reportedly contacted Rosland Capital in 2020 after seeing advertisements promoting gold as a secure investment. After being connected with von Detten, identified as one of the company's top advisors, the couple disclosed that their combined traditional IRA accounts held over $2 million. The lawsuit states that the Greenbergs trusted von Detten, believing him to be an expert who would make sound recommendations for their retirement funds.

On October 19, 2020, the couple allegedly purchased over $999,000 worth of Lady Liberty gold coins based on von Detten’s advice. Sheila paid $599,654.83 for 797 coins, and Norman paid $399,519.09 for 531 coins. The lawsuit claims the coins were sold at a premium of approximately 60%, with the Greenbergs paying about $3,009.56 per ounce, while the spot price of gold was around $1,903 per ounce. The couple alleges they lost more than $367,000 in value almost immediately after this initial transaction.

According to the complaint, von Detten continued to pressure the Greenbergs to invest additional funds. On November 5, 2020, they allegedly made a second purchase totaling more than $1.14 million. Sheila reportedly acquired 885 coins for $677,644.50, and Norman purchased 614 coins for $470,139.80. This transaction allegedly resulted in an immediate loss of over $418,000.

In total, the Greenbergs claim they paid $2,146,958.22 for coins that were worth approximately $1,360,925, representing a loss of over $785,000. The lawsuit asserts that their entire traditional IRA accounts were converted into these gold investments. The physical coins were allegedly never delivered to the couple, instead being sent to Delaware Depository for storage, while the Greenbergs continued to pay fees for account maintenance and storage.

Further allegations state that in August 2021, after their retirement accounts were depleted, Rosland Capital purportedly pursued funds from the couple's family trust. They allegedly purchased nearly $200,000 worth of additional gold coins: $135,487 for 109 PAMP British Museum Lewis Chessmen coins valued at about $48,832, and $64,300 for 50 PAMP F1 Abu Dhabi coins valued at approximately $22,420.

The Greenbergs reportedly did not realize the extent of the overcharging until 2025. Their discovery led them to investigate Rosland Capital's practices, which they claim revealed unethical conduct. The lawsuit contends that the defendants' actions resulted in an unconscionable mark-up of no less than $900,000, constituting financial elder abuse with intent to defraud.

The couple is seeking at least $900,000 in compensatory damages, along with double damages, punitive damages, attorneys’ fees, and costs. They have also requested a jury trial. Representatives for von Detten did not immediately respond to requests for comment.