California man sentenced to 15 years in prison for $22.5 million investor fraud scheme

URBANA, Ill. — Brett Michael Bartlett, 37, of Fountain Valley, Calif., was sentenced to 188 months in federal prison for orchestrating a $22.5 million investment fraud scheme that defrauded more than 1,000 investors from the whole 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 gain, including luxury retreats.

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

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

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

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