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MIAMI-Lewis B. Freeman & Partners, one of South Florida’s most prominent receivership firms, was itself placed in receivership Friday at the request of its namesake founder, according to Daily Business Review, an ALM publication. The move occurs amid a federal investigation trying to trace $3.6 million from accounts overseen by the locally based firm.

Miami-Dade Circuit Judge Victoria Sigler appointed another veteran South Florida receiver, Kenneth A. Welt of Hollywood, to take charge of the firm led by Freeman. The lawyer and forensic accountant has often been picked by federal and state judges as a receiver or trustee when companies went bust or were plagued by fraud.

Freeman’s Miami and Plantation offices were raided by the FBI earlier this month, with sources saying that agents sought records on money controlled by the firm. Click here to read more from Daily Business Review.

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