United States v. Dunn

Summary

The Court held that Dunn and Gillam became constructive trustees of the leasehold interest they fraudulently obtained through the guardian and of its proceeds after transferring it for corporate stock. The ward could elect to trace and recover those proceeds from the defendants who were not innocent purchasers, without proving separate damages or being barred by the compromise with other defendants. The decree was reversed as to Dunn and Gillam and their wives and remanded for further proceedings, while it remained affirmed as to the other defendants.