F Lee Bailey involvement | The Law Offices of Horwitz & Citro, P.A.

F. Lee Bailey got into some trouble with the government after representing an individual who was a major international drug dealer. The government is very interested in seizing the assets of any drug dealer. They were trying to do this without sharing any of the proceeds with Bailey. The government was able to reach an agreement that allowed Bailey to manage and try sell the assets. This agreement was made with the risk of the stock solely on Lee Bailey. After about 4 years the stock had gone up and the government wanted the money back. Bailey claimed that the risk was his so he was entitled to the gain. As a result Bailey decided to sue the government for breach of contract. The discrepancy was whether the risk of the stock meant both loss and gain on the stock. After the first motion to dismiss Mark Horwitz took over the case. When this case finally went to trial it was very interesting. The case took about two weeks and ultimately the ruling was that Lee Bailey was responsible for the loss but not the gain. The outcome was not what was wanted but anytime you sue the government it is a tough road.