California Man Sentenced to 15 Years for $22.5 Million Investor Fraud Scheme

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URBANA, Illinois — Brett Michael Bartlett, 37, of Fountain Valley, California, has been sentenced to 188 months in federal prison for orchestrating a $22.5 million investment fraud scheme that defrauded more than 1,000 investors across the country, including more than 50 victims in Central Illinois.

Bartlett, who pleaded guilty to wire fraud, mail fraud, securities fraud and money laundering, operated through his companies, Dynasty Toys and 7M E-group. He falsely promised investors returns of up to 40% and claimed the companies were financially successful. Prosecutors said Bartlett lied about the company’s assets, including fictitious gold holdings, and used investors’ money for personal benefit, including luxury withdrawals.

From 2016 to 2023, Bartlett solicited investments by misrepresenting the value of the company’s stock and potential buyout offers, convincing people to invest their life savings. Many victims suffered significant financial losses and some lost all of their retirement funds. In May 2020, Bartlett sent millions of dollars in checks to central Illinois investors, but the checks were bounced. Despite this, he continued to transfer funds to his personal accounts.

In sentencing, U.S. District Judge Colin S. Bruce emphasized the sophisticated nature of the scheme, including Bartlett’s offer to convert stocks into fraudulent “gold contracts.” The court ordered Bartlett to pay $22.5 million in restitution to the victims and imposed a three-year supervised release sentence following his sentencing. Tennessee property linked to Bartlett’s businesses was also seized.

“Brett Bartlett’s greed left a trail of victims whose financial future was changed forever,” said FBI Springfield Special Agent in Charge Christopher Johnson. FDIC Special Agent Vincent R. Zehme added that the sentence reflects the severity of Bartlett’s betrayal and the harm caused to the investors who trusted him.

Bartlett’s scheme, described by prosecutors as “reprehensible,” defrauded investors who were lured by false promises and appeals to faith.