Erik von Detten is facing legal trouble. The Princess Diaries actor and Rosland Capital, the now-bankrupt company where he worked as a senior account representative and broker, are accused of committing elder abuse, fraud, constructive fraud, breach of fiduciary duty and conversion in a lawsuit obtained by E! News.
Sheila Greenberg, 85, and her husband Norman Greenberg, 97, alleged in the May filing to the Superior Court of California that the precious-metal asset management firm and von Detten exploited “the fears and vulnerability of seniors” by claiming that “the ancient stability” of gold and other precious metals would help them avoid forthcoming “complete financial ruin.”
The Greenbergs-who stated that they each had a traditional IRA account, with combined balances exceeding $2 million-alleged they paid more than $2.1 million for gold coins worth only $1.3 million. They claimed von Detten, 44, persuaded them to invest an additional $114,000 in gold through their family trust after they depleted their retirement funds.
The couple said they were initially drawn to Rosland Capital-whose assets were acquired by another company in October, which was not named in the lawsuit, after filing for Chapter 11 bankruptcy in July-around summer 2020 after seeing several TV commercials that “created real concern for the safety of their wealth.”
“Rosland’s marketing campaigns are and were, at all times relevant,” the filing read, “designed in large part to appeal to senior citizens through their television and Internet advertising, direct mail brochures, and high-pressure boiler-room type sales practices.”
According to the filing, Von Detten-who played superficial heartthrob Josh Bryant in the Anne Hathaway-led 2001 film-was assigned to work with Sheila and Greenberg after they asked to speak with the top advisor.
The actor stepped away from acting in 2010 after reprising his role as Sid in Toy Story 3-though he most recently starred in the 2024 Lifetime movie My Acting Coach Nightmare-and joined Rosland Capital in 2018.
In the lawsuit, the couple said that von Detten knew they had “never invested in gold or other precious metals and really knew very little about these things,” but that they wanted to take the leap because they believed it was a safe alternative.
“Von Detten acknowledged that he understood their goals and their lack of knowledge and that he possessed sufficient experience and expertise and could help,” the lawsuit alleged. “He earned their trust and confidence such that they agreed to accept his recommendations without question.”
The filing alleged that the couple-using funds from their IRA-placed an October 2020 order for 1,328 Lady Liberty gold coins and 1,499 in November 2020, 60 percent above market value. Around August 2021, they also purchased 109 Lewis Chessmen King coins at a 36 percent premium and 50 F1 coins at a 34 percent markup with money from their family trust.
The filing argued that von Detton and Rosland Capital “took, secreted, appropriated, obtained or retained an unconscionable mark-up over the fair value of no less than $900,000 for a wrongful use” despite knowing it would “likely be harmful” to the couple.
The document argued that, given Sheila and Norman’s age and lack of experience, von Detten had a fiduciary responsibility as their advisor but instead used his “apparent authority” to sell gold at “unconscionable prices.”
“The transactions were not fair in all respects,” the filing alleged, accusing the company and von Detten of gaining “an advantage by misleading Plaintiffs to their prejudice and financial detriment.”
“The prices Defendants charged Plaintiffs in every instance were not fair and reasonable but were instead grossly in excess of the market value for each order at the time each order was executed,” it argued, noting that they misled the couple “into believing that they were paying a fair price relative to the things they bought and for the reasons they bought them.”
Norman and Sheila are requesting a jury trial and asking that they be awarded no less than $1,800,000 in damages for each allegation, prejudgment interest accruing at 10 percent and punitive damages with an amount determined at trial.
Attorneys for Rosland Capital told E! News in a statement that they “cannot comment directly on the lawsuit” but did share insight into the company’s next steps for Greenberg and other investors.
“However, we can state that as counsel for Rosland Capital LLC as debtor in possession,” the lawyers wrote, “we have worked with the Creditors Committee to create a liquidating trust which will have the power to investigate the financial history of the company to provide answers to the claims of the Greenbergs and other investors.”
A hearing is scheduled for November 9 at 8am.
E! News has reached out to the Greenbergs’ attorney for comment, as well as the attorneys assigned to Von Detten in Rosland’s Chapter 11 federal bankruptcy case.