Tuesday, November 29, 2011

Former Lake Shore Asset Management Director Sentenced to 20 Years for Defrauding 900 Investors in $294 Million Scheme

CHICAGO—The former managing director of a hedge fund that was forced into receivership by U.S. government regulators was sentenced today to 20 years in federal prison for fraudulently soliciting and obtaining approximately $294 million from some 900 investors worldwide. The defendant, Philip J. Baker, who controlled Lake Shore Asset Management Ltd., and the Lake Shore Group of Companies, which purportedly traded clients’ funds in several commodity futures pools, had pleaded guilty to wire fraud in August.
Baker, 46, a Canadian citizen who lived in London and later Hamburg, Germany, remained in federal custody following his extradition in December 2009 from Hamburg, where he was arrested in July 2009. He was indicted in February 2009.

Thursday, November 10, 2011


Coldwater, Michigan - The FBI along with state and local authorities are currently investigating multiple armed bank robberies in Branch, Calhoun and Hillsdale counties in Michigan.
Anyone with information about these robberies is asked to contact
the Federal Bureau of Investigation, Kalamazoo Resident Agency at 269-349-9607. A reward of $10,000 is offered from Southern Michigan Bank & Trust for information leading to the arrest and successful prosecution of this suspect.
CALL 269-349-9607
$10,000 REWARD
The suspect is an approximately 6’0” tall white male. Suspect has been known to wear Halloween masks or hunting overalls with a ski mask. He carries a small black automatic pistol. The suspect has been seen driving an older, white, four-door sedan (possibly with gray along the lower portion).