A La Jolla couple has been indicted by a federal grand jury in San Diego and sued by the U.S. Securities and Exchange Commission (SEC) on allegations that they operated a yearslong pump-and-dump securities fraud scheme, netting them and their company more than $100 million in earnings.
Brett David Rosen, 45, and Deborah Rachel Rosen, 44, are accused of criminally engaging in a market manipulation scheme in which they and their investment firm, RB Capital Partners, allegedly promoted the stock of six publicly traded companies while secretly dumping their own cheaply-acquired shares in those companies.
### Civil Suit and Additional Defendants
The SEC’s civil suit focuses on the couple’s alleged conduct related to one of these six companies. The suit also names that company’s former CEO as a defendant and accuses the Rosens and RB Capital Partners of using social media and news releases “to promote the stock of a struggling public company while simultaneously making massive, undisclosed sales of their own stock at enormous profits.”
### Arrest and Charges
The Rosens, who allegedly used illicit profits to purchase a lavish multi-million-dollar home in La Jolla, were taken into custody and made initial appearances Wednesday in federal court in San Diego. They pleaded not guilty to charges in a 24-count indictment alleging conspiracy to commit securities fraud, money laundering, and conspiracy to commit money laundering. Federal prison records showed both remained in custody as of Thursday.
A defense attorney Brett Rosen said he planned to hire did not immediately respond to requests for comment. It was unclear whether Deborah Rosen had legal representation able to comment on her behalf.
### Details of the Scheme
The indictment alleges that the pump-and-dump scheme began in 2020 and involved at least six companies traded on the Over-the-Counter (OTC) markets — decentralized financial markets where buyers and sellers trade directly without brokers.
These companies included a solar roofing firm, a digital currency company, a pharmaceutical firm, and a defense contractor specializing in military drones and technology.
“The indictment alleges that the Rosens’ promotions of these companies provided false and misleading information to investors, potential investors, and the market about their financing and stock positions in these companies,” the U.S. Attorney’s Office in San Diego stated.
“The false and misleading information was designed to encourage the public to invest in these companies while the Rosens secretly dumped their own stock to make millions.”
### Acquisition and Promotion Tactics
According to the indictment, the Rosens used RB Capital Partners to purchase debt from microcap (penny-stock) companies—firms with market capitalization under $300 million. Through complex transactions involving promissory notes and convertible debt, they allegedly acquired company shares at steep discounts.
The couple then promoted these companies on social media and elsewhere to boost stock prices, while secretly selling their own shares for profit.
### Example Case: Solar Integrated Roofing Corp.
In one notable example from the SEC suit, the Rosens purchased more than 1.6 billion shares of Solar Integrated Roofing Corp. stock at secretly discounted prices as low as $0.00005 per share (half a hundredth of a cent per share). Later, they sold more than 1.4 billion shares for prices as high as $2.60 per share.
### Use of Social Media and Alias Details
The indictment claims the Rosens heavily relied on Twitter (now X) to promote the companies whose debt they had purchased. Brett Rosen also allegedly used the platform to defend himself against fraud and market manipulation accusations as early as 2021. His account on X is no longer active.
Court records reveal that Brett Rosen was previously known as Brett Hackspacher, having legally changed his last name in 2015. In a 2024 deposition posted on YouTube, Rosen explained that Hackspacher was his last name for most of his life, but he adopted his mother’s maiden name several years after his parents’ divorce.
Deborah Rosen is also identified in the indictment and SEC suit by her former name, Deborah Braun. In the deposition, Rosen said he and his wife had been business partners long before their marriage in 2021.
### Asset Forfeiture and Home Details
The indictment seeks forfeiture of numerous financial accounts linked to the Rosens and RB Capital Partners, as well as their La Jolla home, which prosecutors allege was purchased with proceeds from the fraud scheme.
According to Zillow, the 5,000-square-foot home features a tennis court and sweeping ocean views. Purchased in 2021 for $7.1 million, it is now worth nearly $10 million.
A prosecutor told a judge Wednesday that the Rosens may continue to live in the home while the case is pending.
https://www.sandiegouniontribune.com/2026/01/22/la-jolla-couple-facing-criminal-charges-sec-suit-over-alleged-100-million-pump-and-dump-scheme/