The global fraud and international asset tracing and recovery team at BakerHostetler has three decades of experience working on recovery cases across a range of industries, including tech, energy, pharma and finance. The team works on high-profile, multi-jurisdictional matters of significant value, and are able to collaborate with teams worldwide without conflict. Oren J. Warshavsky and David Sheehan co-lead the international asset tracing and recovery team. Gonzalo Zeballos leads the international litigation team, and Tatiana Markel and Michelle Usitalo focus on cross-border investigations.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
- The team at Baker Hostetler is at the cutting edge of developments in asset tracing and recovery. By being the lawyers to the Trustee of Bernard Madoff, they have unrivaled expertise in tracing and recovering assets due to the creative and solutions-driven approach they adopt and having encountered certain legal issues that are new to this area of the law. They co-counsel well and are commercially minded and creative when it comes to identifying deep pockets and assets to monetize claims. Oren Warshavsky, Tatiana Markel, and Michelle Usitalo are all outstanding and get results for their clients. They are fantastic to work with.
- BakerHostetler stands out for its integrated approach to asset tracing and recovery, combining strong legal expertise with effective investigative capabilities, particularly in complex cross-border matters. The team is responsive, pragmatic, and highly results-oriented. Clients benefit from their experience, commercial mindset, and ability to work seamlessly with other advisors. Compared to peers, they strike a strong balance between technical depth and efficient execution. They also make good use of collaboration and technology to support their work, contributing to streamlined processes and solid outcomes.
- The team is a class of its own - outstanding, high-performing, innovative, and easily approachable.
- Oren Warshavski and Gonzalo Zeballos are both brilliant and very well connected.
- Baker, on the basis of their strong experience, is highly skilled in this domain. They have knowledge and are familiar with a broad range of jurisdictions.
- Very diligent and expeditious in getting to the heart of the issue.
Key clients
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- Irving H. Picard, Securities Investor Protection Act (SIPA) Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC and the Securities Investor Protection Corporation
- TGG Direct
- Scott Schreer as the Security Holder Representative of the Securityholders of Audiam, Inc
- Kevin Hellard and Mike Saville, in their capacity as Joint Liquidators of Hellas Telecommunications (Luxembourg) II SCA
- The Susan Zirkl Memorial Foundation Trust and Michael Lissner, Esq., as Trustee and Israelitische Kultusgemeinde Wien (which is the Jewish Community of Vienna)
- Mathew Clingerman as Receiver for M3 Fund, a segregated account of Silk Road Funds
- Libyan Asset Recovery and Management Office
- Mahim Khan and Lauren Reeves
- Alpha Group, International
- Jive Investments
- Kevin Hellard and Jonathan Thielmann, Joint Trustees in Bankruptcy of Anatoly Leonidovich Motylev
Work highlights
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Since 2009, BakerHostetler has led and managed international investigations and foreign recovery efforts in the representation of Trustee Irving H. Picard for the SIPA liquidation of Bernard L. Madoff Investment Securities LLC. Through his efforts, along with those of the BakerHostetler asset-recovery team, more than $15.34 billion in assets have been recovered from the decades-old Madoff Ponzi scheme – the largest of its kind in U.S. history.
Since 2009, BakerHostetler has led and managed international investigations and foreign recovery efforts in the representation of Trustee Irving H. Picard for the SIPA liquidation of Bernard L. Madoff Investment Securities LLC. Through his efforts, along with those of the BakerHostetler asset-recovery team, more than $15.34 billion in assets have been recovered from the decades-old Madoff Ponzi scheme – the largest of its kind in U.S. history.
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Successfully represented a client in a case involving the dispute over Nazi looted art, a watercolour and charcoal drawing by well-known artist Egon Schiele, valued at over $40 million (the “Schiele Artwork”).
Successfully represented a client in a case involving the dispute over Nazi looted art, a watercolour and charcoal drawing by well-known artist Egon Schiele, valued at over $40 million (the “Schiele Artwork”).
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The firm is representing the Libyan Asset Recovery and Management Office (“LARMO”) in what could become the largest international asset recovery effort of all time, to recover assets misappropriated from Libya. This includes an estimated $100 million or more stolen by former leader Muammar Gaddafi.
The firm is representing the Libyan Asset Recovery and Management Office (“LARMO”) in what could become the largest international asset recovery effort of all time, to recover assets misappropriated from Libya. This includes an estimated $100 million or more stolen by former leader Muammar Gaddafi.
Practice head
## INSERTED START: 10-04-2026 12:44:08 \n \nOren J. WarshavskyDavid Sheehan