F Lee Bailey involvement | Law Offices of Mark L. Horwitz, P.A.
F. Lee Bailey and the government had a dispute arising out of Bailey’s representation of a major international drug dealer. The government was very interested in seizing the drug dealer’s assets which were principally located in France. The government was attempting to limit the amount it would have to share with France and wanted to utilize Bailey to preserve and sell the assets and thus send the proceeds to the U.S.
The government and Bailey reached an agreement that the government would allow the transfer of the stock from the drug dealer to Bailey in order for Bailey to use the stock to maintain and sell the assets which included two large estates. The government’s attorney agreed that Bailey would take the stock but if the stock price went down, it was his loss.
After a few years the stock price went up and the government wanted the stock back. Bailey claimed that he and the government lawyer agreed that the risk was his therefore, he was entitled to the gain. The dispute ended with Bailey suing the government for Breach of Contract and asked me to try the case for him.