Friday, October 16, 2009

Lew Freeman's Business Placed In Receivership

Wow, Jordana Mishory reports this shocker:
In a stunning collapse, South Florida attorney and receiver Lewis Freeman went to court today to put his firm out of business and liquidate amid a federal investigation trying to trace $3.6 million from accounts overseen by the firm.

Miami-Dade Circuit Judge Victoria Sigler signed the order to shut down Lewis B. Freeman & Partners and place the firm in receivership under the control of another veteran South Florida receiver, Kenneth A. Welt of Hollywood.

Freeman, a lawyer and forensic accountant, h has often been slected over the years by federal and state judges as a receiver or trustee whenever companies went bust or were plagued by fraud. He did not return a call for comment.
I actually feel bad about this.

It was obvious that the FBI raid effectively ended Lew's receivership practice, as you cannot appoint someone to be a receiver or even an expert who is currently under federal investigation.

And while the full import is unknown of placing his entire business under receivership at the same time the FBI is tracing the firm's expenditures, it's hard to see this as a positive development.

Our thoughts and good wishes go out to Lew and the many professionals we know and respect over at his shop.


Anonymous said...

Have you considered that he may be guilty?

Anonymous said...

Is it possible that Mr. Freeman could be the Bernie Madoff of the receivership world?

Anonymous said...

This just frustrates me a bit -- was two months away from a small pit of a payment from the Hess Kennedy case they took in too their receivership after been giving the run-a-round for over a year. God only knows if we will ever get the money due to us now -- since the receivership company goes in to receivership!!

Anonymous said...

I wouldn't side with the Government just yet. Lew is a very highly regarded accountant and lawyer in the business/legal world, as well as the community. I have worked for him before and vouch for his integrity. Our thoughts and prayers are with your family Lew.

Anonymous said...

Integrity, right. Same guy who, when appointed Receiver of a certain company I'm familiar with, used every expletive in the book when he "explained" what his role was. Then he proceeded to sell off assets at half price, didn't report certain sales to the court and several other questionable actions. I still don't have my marraige license that was taken from a PERSONAL safety deposit box!

Anonymous said...

Mr. Freeman has no integrity. He's been riding the gravy train for a very long time.

Like Bernie Madoff "a charitable crook".

Anonymous said...

A court appointed receiver that turns out to be a thief.

No sympathy for Mr. Freeman who believed he was the personification of decency and honesty.

Anonymous said...

Do the prosecutors who used Mr. Freeman as their expert witness feel betrayed?

After all the federal and state courts appointed the wolf to take care of the chicken coop.

Anonymous said...

The Prosecutors are probably more concerned with keeping the convictions they obtained with the "expert" witness. He didn't even take the stand in a case I'm familiar with, he sent one of his staff members although he had been the one to sign all Receiver reports. Wonder why....

Anonymous said...

Often times one wonders how Prosecutors will deal with their " expert witness".

His credibility is down to zero.

Anonymous said...

Is the Government looking back into Mr. Freeman's activities as a receiver from the day he became an expert witness for the prosecution?

Let's keep in mind that due to his "expert witness" testimony prosecutors obtained convictions in numerous cases.

Is the testimony of a "thief" valid in court to convict people of fraud when they did not live lavished lifestyles or enrich themselves?

Mr.Freeman on the other hand enriched himself and lived a very lavish, public, social and charitable life~ with other people's monies.

It's my understanding that his fees for doing his receivership work were astronomical.

How far back are the prosecutors willing to investigate Mr. Freeman's activities before they discover that their "expert witness" was not only a thief but a total fraud.

Meanwhile, Mr. Freeman hasn't been indited as of yet.

Anonymous said...

No sympathy for an hypocrite.

He should get what he deserves.

But like all"crooks" he most likely is making a deal with prosecutors for a reduced sentence.

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