Richard Fuld, the disgraced former chief executive of Lehman Brothers, sold his $13.3 million (£9.6 million) Florida mansion to his wife in November for $100, according to real estate records.

Mr Fuld, who is widely blamed for the collapse of Lehman Brothers in September last year, bought the house with his wife, Kathleen, in March 2004 for $13.75 million.

On November 10, the 62-year-old banker transferred the seaside mansion into Mrs Fuld's name in return for $100.

Mr Fuld is expected to face civil lawsuits from shareholders furious that he allowed Lehman to fall into bankruptcy rather than be sold months earlier.

Lawyers speculated today that moving the house into Mrs Fuld's name only - it had previously been held in the couple's names - could be an attempt to put assets beyond the reach of Lehman Brothers investors who intend to sue the former chief executive.

Florida has unusually generous home protection laws that could save the Fulds from losing their home in the case of a lawsuit or bankruptcy. But the couple would have to provide evidence that they resided in Florida, which would be difficult, lawyers said, because of the amount of time they spend in New York.

Also, if a court decided that Mrs Fuld did not pay enough for the mansion, the transfer be deemed to be "fraudulent conveyance" that would render the move void.

The Fulds also own a multimillion-dollar property in the hedge-fund belt of Greenwich, Connecticut, and are enthusiastic art collectors.

The collapse of Lehman Brothers was the largest corporate bankruptcy in American history.

Mr Fuld was paid $22 million in 2007 but did not receive any bonus or severance payment when he left Lehman last year.

The former chief executive was questioned by a congressional committee in October.

He told the lawmakers that he felt "horrible about what has happened to the company" but insisted that financial regulators and Congress should share the blame for Lehman's demise.

Mr Fuld also insisted that all of his decisions in the months before the bankruptcy were "both prudent and appropriate" given the information that he had at the time.

However, he is expected to face claims for damages from investors who believe that Lehman's management hid the truth about the bank's financial problems.

Times Recommends

• Lies and cover-up at MG Rover exposed by report
• High oil prices push manufacturing costs up
• Primark founder steps down as chief executive