Lloyd, Carr & Co., the Boston-based commodity options firm closed down last week amid charges that it was involved in widespread fraud, transacted up to $27 million worth of business in the past year, according to the firm's attorney, F. Lee Bailey.

The president of the firm, James A. Carr, disappeared following his release on $100,000 bond after his arrest on fraud charges two weeks ago. After the arrest on FBI fingerprint check disclosed that Carr was really an escaped felon from New Jersey named Alan Abrahams.

Lloyd, Carr had offices in 11 U.S. cities - all have been closed down in the past two weeks.

Bailey told a U.S. District Court hearing in Boston yesterday that the company did between $25 million and $27 million in business over the past 12 months. The firm was started in July, 1976.

Federal officials pouring over the records of Lloyd, Carr which were seized in Boston last week were unable to confirm Bailey's figures. The firm's assets have been placed under the control of former Massachusetts Supreme Court Chief Justice McLaughlin, who was appointed the receiver by a federal judge in Boston.

A Commodity Futures Trading Commission affidavit filed in Boston revealed that in the past two months alone Abrahams deposited $1.675 million of company money into his personnal account at the N.T. Butterfield and Son Bank in Bermuda. Bailey added that another $250,000 was in a Lloyd, Carr company account at the Bank of Bermuda.

According to McLaughlin, the funds were "washed" through accounts at the Mark Twain Bank of St. Louis and Manufacturers Hanover Trust Co. in New York before depositing it in Bermuda.

McLaughlin is in Bermuda arranging for a lawyer there to represent the interests of the receivership in its attempts to get some or all of the Carr money back to the U.S.

Meanwhile, a jurisdictional dispute over the prosecution of fradulent commodities options firm has developed.

In testimony before a state investigations commission in Boston yesterday, securities officials from around the country criticized the CFTC's exclusive jurisdiction over commodity options fraud cases.

They also chided the commission for lax regulatory policies they say enabled the Lloyd, Carr to bilk customers out of millions of dollars.

CFTC assistant director of enforcement Hugh Kadden testified that he would recommend stiffer penalties, beefed up regulations and permission for states to prosecute under either existing federal statutes or individual state laws.