California Man Sentenced for Central Illinois Fraud
Brett Michael Bartlett, a 37-year-old man from Fountain Valley, California, recently received a sentence of 188 months in prison for wire fraud, mail fraud, securities fraud, and money laundering. This ruling was made on November 25, 2024. In addition to his prison time, Bartlett was directed to serve three years of supervised release and pay $22.5 million in restitution to over 1,000 victims, including 50 individuals in Central Illinois.
Bartlett confessed to deceiving investors through his companies, Dynasty Toys and 7M E-group, by making false promises of high investment returns and inflating the value of his company’s assets. Instead of fulfilling his promises, Bartlett misused the funds for his own benefit, such as indulging in a luxury retreat. Some investors even received checks that later bounced, causing significant financial hardships for many, including the loss of their life savings.
The scheme orchestrated by Bartlett was described as intricate, involving deceptive tactics like fake “gold contracts.” As part of his punishment, a Tennessee property linked to his fraudulent activities was seized. It’s essential to acknowledge the devastating impact this fraud had on victims, as some were swindled into investing due to Bartlett’s misleading claims of religious and family values.
The investigation into Bartlett was led by the FBI and FDIC Office of Inspector General, with federal prosecutors working diligently to prioritize the restitution process for victims.
