What was F. Lee Bailey's Net Worth?
F. Lee Bailey was a renowned American attorney with a net worth of $100 thousand dollars at the time of his death. Bailey was most famous for his role in the 1990s O.J. Simpson "Dream Team". In his prime, his fortune exceeded $10 million and might have even reached $20 million. However, due to multiple legal troubles, Bailey declared bankruptcy in 2016 and lived modestly in an apartment above a hair salon in Maine. He listed a 1999 Mercedes as his only asset. Bailey passed away on June 3, 2021, at the age of 88.
Early Life
Francis Lee Bailey Jr. was born in Waltham, Massachusetts, on June 10, 1933. He was educated at Cardigan Mountain School and Kimball Union Academy, graduating in 1950. Bailey attended Harvard College but left in 1952 to join the U.S. Marine Corps. He earned his aviator wings as a jet fighter pilot in 1954 and was discharged in 1956. In 1957, he enrolled at Boston University Law School, where he achieved the highest grade point average in the school's history, graduating first in his class in 1960.
Sam Sheppard Case
F. Lee Bailey's first significant case was defending Dr. Sam Sheppard, who had been convicted of murdering his wife Marilyn in 1954. The case inspired the television series "The Fugitive" and a 1990s film adaptation starring Harrison Ford. In the 1960s, Bailey was hired by Sheppard's brother to handle the appeal. He argued before the United States Supreme Court, claiming Sheppard had been denied due process, which resulted in a re-trial and a not guilty verdict for Sheppard.
Ernest Medina Case
Bailey also defended U.S. Army Captain Ernest Medina in 1971. Medina faced charges related to the My Lai Massacre during the Vietnam War, in which non-combatants were killed. Bailey successfully defended Medina, who was acquitted of the charges.
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O.J. Simpson Case
In 1994, Bailey joined the defense team of O.J. Simpson just before preliminary hearings. He conducted a critical cross-examination of Detective Mark Fuhrman, bringing to light issues of racism and police brutality. The impact of this testimony contributed significantly to Simpson's acquittal after an eight-month trial. In the 2016 FX miniseries "The People v. O.J. Simpson: American Crime Story," F. Lee Bailey was portrayed by Nathan Lane.
Claude DuBoc Case
During the Simpson trial, Bailey and fellow defense lawyer Robert Shapiro represented Claude DuBoc, an accused marijuana dealer. DuBoc agreed to forfeit $6 million worth of BioChem stock to the U.S. Government, but its value increased to over $20 million by the time it was to be handed over. Bailey claimed he was entitled to the increased value as legal fees and had used the stock as collateral for loans. In 1996, he was imprisoned for contempt for 44 days before returning the stock.
Bailey's actions in the DuBoc case led to his disbarment in Florida in 2001. In 2003, he was ordered to pay $5 million in taxes and penalties related to the BioChem stock. Though the judgment was overturned, Bailey still owed approximately $2 million in unpaid taxes to the IRS at one point.
