O'Brien v. Stermer

Angela O’Brien appeals a final order authorizing an assignee for the benefit of creditors,1 Daniel Stermer, to sell 1,000 ounces of silver Ms. O’Brien thought she had bought, paid for, and owned. On the record relating to the underlying Ponzi scheme, however, we are constrained to affirm the trial court. Ms. O’Brien was the victim of a fraud, not an owner or bailor of the silver purportedly sold to her.

Background

Diversified Investment Group, Inc., and Global Bullion Exchange, LLC, working from offices in Lake Worth, purported to sell interests in precious metals to investors. The company…