New Attorneys Appointed for Missing Millionaire’s Estate

A judge in Broward County, Florida has appointed two new attorneys to manage the $100 million estate of still-missing millionaire Guma Aguiar, which has been the subject of dispute between Aguiar’s wife and mother.

Judge Mark Speiser selected Tom Panza to serve as the conservator of Aguiar’s financial assets and properties in the United States. Speizer also gave Panza the authority to function as conservator in transactions involving Aguiar’s millions of dollars in holdings in Israel, pending any challenges or other requirements by Israeli courts. “At some point, the case will be resolved and the assets had to be maintained during that period, that’s what the conservator does,” Panza explained.

Speiser appointed another attorney, Jack Seiler – who is also the mayor of Fort Lauderdale – to the role of conservator of Aguiar’s lawsuits. Seiler will act in the millionaire’s best interest in a range of lawsuits that have been filed in county and federal courts with regard to both business and domestic matters.

Speiser’s ruling did not fully satisfy Aguiar’s wife, Jamie, or mother, Ellen. “There is a conflict,” said Ellen Aguiar’s attorney Ilene Lieberman. “There is clearly a conflict between Ellen Aguiar and Jamie Aguiar.” The conflict is rooted in the question of who is legally entitled to serve as overseer of Aguiar’s multimillion-dollar estate until he is found.

Following the business mogul’s disappearance on June 19, his wife and mother filed a series of legal motions, each requesting that they be designated as conservator of his fortune. “He hasn’t been declared dead yet. He issued three documents making his intent very clear that he wanted his mother, he didn’t want his wife,” Lieberman revealed.

Jamie Aguiar’s attorney, Al Frevola, argued that those legal claims should not have validity. “It’s remarkable that the same people that are trying to grab control of his assets are saying that when he was in a psychotic state in a mental ward, that those assets, that those documents that were signed are a competent representation of what his true intent is,” Frevola said. Insisting that Aguilar’s wife has the legal upper hand in the case, Frevola added, “The trust agreement and the will make it clear that my client and her children are the overwhelming beneficiaries of Mr. Guma Aguiar’s estate.” Frevola opined that the judge’s decision represented a victory for his client because it effectively blocks Ellen Aguiar from having a potential decision-making role in Guma Aguiar’s business affairs.

Prior to the judge’s appointments, Aguiar’s mother and wife agreed to designate attorney Glenn Goldstein as a conservator, but he relinquished the role due to previous responsibilities.

Aguiar sold the Texas-based energy company he founded together with his uncle several years ago for $2.5 billion dollars. Aguiar’s assets include his $5 million Fort Lauderdale home and $2 million yacht. The legal proceedings were set to begin again this week so that the attorneys could itemize Aguiar’s Israel-based assets, which include more than a dozen properties and two sports teams.