State fines Sisters woman for taking $700K in investor funds
The Oregon Department of Consumer and Business Services has issued a cease-and-desist order against a Sisters woman for misleading at least a dozen people, including a close friend, to invest $700,000 in her businesses. The businesses either did not exist or were financially unsuccessful, officials said Thursday.
The department, through its Division of Finance and Corporate Securities, also fined Rebecca E. Castle $140,000 for violating state securities law.
Castle convinced the investors to put money into a variety of businesses that included feature film projects; exercise equipment; suntan lotion and other personal products; and silver and gold mining operations purportedly owned by her family.
She promised them a return on their investments of multi-year guaranteed payments and membership interests in the mines, the agency said.
Castle, also known as Rebecca Goins, spent the investors’ money on personal expenses such as international travel, jewelry, spa services, plastic surgery, and purchases for her two children and her boyfriend. In some cases, she used funds from some investors to pay other investors, officials said.
In addition, Castle violated state securities law by not having the required securities license to solicit or sell investments and not registering the investments in Oregon.
In July 2014 , Castle was indicted in Deschutes County on one count each of theft by deception and first-degree aggravated theft. The criminal indictment of Castle was the result of a joint investigation between agents and investigators from the FBI, U.S. Bureau of Land Management and the division.
Deschutes County District Attorney John Hummel said Castle failed to appear in court, and a warrant is out for her arrest.
“This is another reminder on how important it is to check out the proposed investment and the person promoting it,” said David Tatman, division administrator. “We urge anyone considering an investment to contact us to verify the information.”
Anyone who has invested money with Castle or has more information about Castle is encouraged to file a complaint with the division.
To file a complaint, or to find information about licensing, registration, and enforcement history for individuals and companies, visit dfcs.oregon.gov or call 866-814-9710 (toll-free).
The full cease-and-desist order can be read at http://www.dfcs.oregon.gov/enf_orders/S-15-0014.pdf .
