California Pair Hyped Solar Stock While Selling Shares, US Says

A California couple running an investment firm are facing federal charges alleging they promoted stock on social media while secretly selling their shares.

Brett Rosen and Deborah Braun, the co-owners of RB Capital Partners Inc., were hit with a criminal indictment unsealed Wednesday along with a parallel lawsuit from the Securities and Exchange Commission filed in the US District Court for the Southern District of California.

In one case, the couple allegedly used convertible notes to acquire stock in Solar Integrated Roofing Corp. at deeply discounted prices—as low as $0.00005 per share—while publicly stating conversion prices of $3 to $4.50 ...