Sangamon Sun

Brett Michael Bartlett, a 37-year-old resident of Fountain Valley, California, was sentenced to 188 months in prison for wire fraud, mail fraud, securities fraud, and money laundering. The sentencing took place on November 25, 2024. Following his prison term, Bartlett will serve three years of supervised release and is required to pay restitution amounting to $22,502,092.66 to his victims.

Bartlett had previously pleaded guilty to devising a scheme through his companies Dynasty Toys and 7M E-group to defraud investors by making false promises and representations. These companies purchased items at liquidation sales and resold them online via platforms like Amazon. Bartlett solicited funds from Central Illinois investors with the promise of high returns on inventory purchases and preferred stock shares in Dynasty Toys.

In court admissions, Bartlett confessed to overstating the success of his businesses and using investor funds for personal gain. He falsely claimed that existing shares were worth $30 million collectively and that Dynasty Toys possessed significant gold assets. Over 1,000 individuals invested more than $22.5 million based on these misrepresentations.

Evidence presented during the sentencing hearing showed that many victims faced severe financial hardship due to Bartlett's fraudulent activities. Some lost their entire retirement savings while trusting Bartlett's claims of shared faith and familial bonds.

U.S. District Judge Colin S. Bruce deemed a sentencing enhancement appropriate due to the sophisticated nature of the fraud which included worthless "gold contracts." The judge also ordered criminal forfeiture of property linked to one of Bartlett’s corporations in Tennessee.

The prosecution highlighted that although each charge carried potential fines up to $6.25 million, no fine was requested so any recovered money could be directed towards victim restitution.

“The defendant’s reprehensible conduct had life-changing and devastating repercussions for his victims in Central Illinois and across the country,” stated U.S. Attorney Gregory K. Harris.

“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.”

Special Agent Vincent R. Zehme from FDIC OIG noted that “His prison sentence and the restitution ordered is just punishment for luring investors with false representations.”

The investigation was conducted by the FBI Springfield Field Office along with the Federal Deposit Insurance Corporation – Office of Inspector General (FDIC OIG). Supervisory Assistant U.S. Attorney Eugene L. Miller led the prosecution effort.