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Tipsheet

Jury Convicts California Couple Charged with $100 Million Fraud

Jury Convicts California Couple Charged with $100 Million Fraud
AP Photo/Eugene Hoshiko

Brett Rosen and Deborah Rosen of La Jolla, California, were indicted by a federal grand jury on charges that they, through their joint investment business, RB Capital Partners, Inc., engaged in a years-long securities fraud and money laundering scheme.

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Brett David Rosen, 45, and Deborah Rachel Rosen, 44, are accused of laundering money through their company and others. 

According to the 24-count indictment, since 2020, the Rosens engaged in a market manipulation scheme through financing, promoting, and selling the stock of six publicly traded companies – Optec International, Inc., Sunshine Biopharma, Inc., BlockQuarry Corp., Solar Integrated Roofing Corp., Cyberlux Corp., and Ilustrato Pictures International, Inc.

The two are charged with conspiracy, securities fraud, conspiracy to launder monetary instruments, and money laundering. The charges could bring 45 years in prison and over $5 million in fines. 

The indictment alleges that the Rosens’ promotions of these companies provided false and misleading information to investors, potential investors, and the market about their financing of and stock positions in these companies. The false and misleading information was designed to encourage the public to invest in these companies. At the same time, the Rosens secretly dumped their own stock in these companies to make millions of dollars.

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According to the indictment and court documents, the Rosens used the profits from their massive securities fraud scheme to fund their lavish lifestyle, including the purchase of a multi-million-dollar home in La Jolla Shores.

The records are not accessible through the Public Access to Court Electronic Records. 

The United States acknowledges the assistance and cooperation of the Securities and Exchange Commission and the Criminal Prosecution Assistance Group of the Financial Industry Regulatory Authority.

This case is being prosecuted by Assistant U.S. Attorneys Janaki G. Chopra and Joseph S. Smith.             

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