La Jolla Shores couple scammed investors out of $100 million, say prosecutors
You never know what the neighbors are up to.
Take the case of David and Rachel Rosen, a couple in their mid-40s living in a multi-million dollar home in La Jolla shores.
By all outward appearances, they had it all, living what federal prosecutors described as a “lofty lifestyle.”
However, those same prosecutors say, they had been paying for all that by laundering money and running a $100 million fraud scheme for years via their joint-investment business, RB Capital Partners.
The pair was indicted by a federal grand jury this month on 24 counts. The U.S. Attorney’s Office for the Southern District of California is alleging that, “since 2020, the Rosens engaged in a market manipulation scheme through financing, promoting and selling the stock of six publicly traded companies — Optec International, Sunshine Biopharma, BlockQuarry Corp., Solar Integrated Roofing Corp., Cyberlux Corp. and Ilustrato Pictures International.”
It’s the prosecutors’ contention that the Rosens’ “provided false and misleading information to investors, potential investors and the market about their financing of and stock positions in these companies,” and that, while misleading those same investors regarding those stocks, they were actually dumping their shares, pocketing millions in the bargain.
The Rosens have been charged with conspiracy, securities fraud, conspiracy to launder monetary instruments, and money laundering, and could be sentenced to decades in prison and face hefty fines as well.
