Brett Michael Bartlett, 37, of Fountain Valley, California, has been sentenced to 188 months (over 15 years) in federal prison for orchestrating a complex fraud and money laundering scheme that defrauded investors of more than $22.5 million.
In addition to his prison term, Bartlett will serve three years of supervised release and pay restitution totaling $22,502,092.66 to his victims. He was also ordered to forfeit various assets, including an assault rifle, handgun, shotgun, and thousands of rounds of ammunition.
READ: Two Men From Virginia And California Sentenced In Fentanyl Trafficking Conspiracy
Bartlett, who operated through his companies Dynasty Toys and 7M E-group, lured over 1,000 investors, including more than 50 from Central Illinois, into his fraudulent schemes. He falsely claimed to use investor funds to purchase and resell liquidation sale items online, promising annual returns of 20% to 40%. Later, he solicited additional investments by offering Dynasty Toys’ preferred stock shares, which he falsely claimed were poised to double in value.
Prosecutors revealed that Bartlett grossly exaggerated the success of his companies, fabricated asset values, and concealed financial struggles. He falsely claimed that Dynasty Toys owned hundreds of millions of dollars in gold and that the company was on the verge of a $120 million acquisition. These misrepresentations convinced many to invest their savings, retirement funds, and more.
In May 2020, Bartlett mailed checks worth millions of dollars to investors in Central Illinois, only for the checks to bounce. Despite this, he transferred hundreds of thousands of dollars to his personal account and hosted a luxury retreat for family and employees at Big Bear Lake, California.
READ: Trump Cabinet Nominees Targeted In “unAmerican” Bomb Threats, Swatting
At the sentencing hearing, prosecutors presented evidence of the devastating financial impact on victims, many of whom lost their entire retirement savings. Many victims expressed feelings of betrayal, as Bartlett had positioned himself as a trustworthy figure, often referring to his investors as “family” and emphasizing shared religious faith.
U.S. District Judge Colin S. Bruce imposed an enhanced sentence, citing Bartlett’s use of sophisticated means, such as offering worthless “gold contracts” to investors. Judge Bruce also ordered the forfeiture of a Tennessee property linked to Bartlett’s corporations.
Bartlett faced up to 20 years for each fraud charge and up to 10 years for money laundering. While the charges carried potential fines of up to $6.25 million, prosecutors opted not to request fines to ensure any recovered funds could be directed toward victim restitution.
“The defendant’s reprehensible conduct had life-changing and devastating repercussions for his victims in Central Illinois and across the country,” said U.S. Attorney Gregory K. Harris. “Our office is dedicated to pursuing those who deal in fraudulent investments. We are grateful to our federal law enforcement partners’ critical work in accomplishing that mission.”
READ: Teen Arrested For Attempted Murder In Tampa Shooting
“Brett Bartlett’s greed left a trail of victims in the path of his fraudulent schemes,” said FBI Springfield Special Agent in Charge Christopher Johnson.” And while the victims lives and financial futures were sadly changed forever, this significant sentence brings justice and underscores the investigative efforts of FBI Springfield and the FDIC–Office of Inspector General.”
“It is fitting that Mr. Bartlett was brought to justice for having engaged in a massive fraud that brought financial ruin to more than 1,000 unsuspecting and trusting investors,” said Special Agent in Charge Vincent R. Zehme, of the Federal Deposit Insurance Corporation Office of Inspector General (FDIC OIG), Chicago Region. “His prison sentence and the restitution ordered is just punishment for luring investors with false representations and promises; betraying their trust; and selfishly using more than $22 million of their hard-earned funds for his personal benefit and to support his scheme. Adding insult to injury—he mailed some of them millions of dollars in checks that bounced. The FDIC OIG will continue to work tirelessly with our law enforcement partners to bring a halt to such schemes that harm innocent consumers and undermine the integrity of our Nation’s banks.”
The case was investigated by the Federal Bureau of Investigation (FBI) Springfield Field Office and the Federal Deposit Insurance Corporation – Office of Inspector General. Supervisory Assistant U.S. Attorney Eugene L. Miller led the prosecution.
Please make a small donation to the Tampa Free Press to help sustain independent journalism. Your contribution enables us to continue delivering high-quality, local, and national news coverage.
Android Users: Download our free app to stay up-to-date on the latest news.
Connect with us: Follow the Tampa Free Press on Facebook and Twitter for breaking news and updates.
Sign up: Subscribe to our free newsletter for a curated selection of top stories delivered straight to your inbox