SEMINOLE COUNTY, Fla. — Investigators in Texas said they seized approximately $30 million in gold and cash from an Altamonte Springs gold refinery accused of playing a role in a nationwide “gold bar” scam targeting seniors.
The Orlando Gold Refinery’s two owners, Timothy O’Dell and John Timmerman, are out on bond while they wait for their warrant to be sent from Collin County prosecutors and for their Florida court date at the end of the month.
Investigators said Timmerman and O’Dell melted down the gold bars scammers took from seniors and helped launder the proceeds. They’re two of the 19 people under arrest, Collin County Sheriff Jim Skinner told WFTV.
However, Timmerman’s attorney, Dylan Howller, pushed back on investigators’ claims. He said the amount seized from the refinery was a fraction of the stated $30 million.
When asked for an alternate number, Howller said he’d have to check with his clients before sharing.
However, Howller filed a demand in court, requesting that investigators provide a list of what was seized from the refinery.
“Without an opportunity to know what was seized and challenge its seizure, the property rights of the Defendant and innocent parties are denied without the due process of law,” Howller wrote.
He told WFTV the gold and cash seized – whatever the amount – belonged to the store’s clients, who mostly come from Florida and who no longer have access to their belongings.
In addition to the Altamonte store, authorities said they seized $70 million from a store in Atlanta and $50 million from a location in Texas.
Timmerman and O’Dell are both charged with Engaging in Organized Criminal Activity and Financial Abuse of the Elderly. Both charges carry significant prison time if the two are convicted.
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