Receivership for
STEPHEN JOSEPH EZEKIEL, MASTER STATE
(HONG KONG) LIMITED, a Hong Kong company,
GABRIEL BREEMAN, BRAD GRAY, and
JEFFREY LINDHOLM,
Plaintiffs,
v.
DAILY BREAD, LLC,
a Colorado limited liability company, Defendant
 
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Receiver
Scott M. Dimond

Counsel for Receiver
Lorenz Michel Pruss

CIRCUIT COURT OF THE 11th JUDICIAL CIRCUIT IN AND FOR MIAMI-DADE COUNTY, FLORIDA



FREQUENTLY ASKED QUESTIONS

 
  1. What is this case about?

 Answer: Daily Bread presented itself to customers as an investment firm operated by John Stanbridge (“Mr. Stanbridge”), but Plaintiffs allege that Daily Bread was run as a Ponzi scheme that resulted in the loss of millions of investor dollars.

  1. Where is John Stanbridge?

Answer: Mr. Stanbridge passed away in early January 2022.

  1. What is the purpose of the appointment of the receiver?

Answer: The Court has appointed the Receiver to “manage the wind down and dissolution of the Defendant [Daily Bread, LLC] with all powers and duties of a Receiver, as set forth below and pursuant to §605.0704, Fla. Stat., and of all real and personal property of the Defendant.” What that means is that the Receiver is in charge of identifying what assets may be available to compensate creditors of the Daily Bread, LLC, including victims of the alleged Ponzi scheme, recovering any such assets, and establishing a court-approved process to distribute any such assets.

  1. How do I obtain information about these proceedings?

Answer: The Receiver will be filing monthly reports regarding his activities and the Receivership Estate. Those reports will provide updates on the status of collecting information from investors and financial institutions, marshalling assets for the Receivership Estate, and any other information that might be helpful to the Court. Those reports and any other critical case filings will be posted on this website.

  1. What is the Receiver waiting on to move the process forward?

Answer: Information.  The Receiver is in the process of collecting sufficient information to have a forensic tracing performed to identify the sources of funds for Daily Bread, how those funds were used, and what assets might be available or recoverable to compensate creditors. 

  1. What is the Receiver doing now?

Answer: Among other things, the Receiver has been reaching out to investors to collect information regarding monies sent to Daily Bread, LLC.  The Receiver also has been in contact with financial institutions to obtain documentation regarding the receipt of those monies and other aspects of Daily Bread’s operations. The Receiver also has retained a forensic expert to prepare the forensic tracing of the monies and an expert in Electronically Stored Information to retrieve data that was in the possession of Daily Bread, LLC and its former Managing Member, John Stanbridge.

  1. How does the Receiver intend to trace monies that flowed to and from Daily Bread to address potential claims by persons who believe that they were economically damaged as a result of Daily Bread’s activities?

Answer: The Receiver has retained Paul DeStefanis, CPA/ABV, ASA BV/IA, CVA, to conduct a financial tracing.  The Receiver’s counsel or Mr. DeStefanis himself may reach out to investors to obtain follow-up information as part of that tracing effort. You can email information to Mr. DeStefanis at pauld@bizvaluations.com, but make sure to copy counsel for the Receiver on any such communications.


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