Wednesday, 1 April 2015
Last updated 4 hours ago
Feb 21 2008 | 7:38am ET
Chicago hedge fund Lake Shore Asset Management has been hit with new charges, accusing it of defrauding investors of more than $11 million.
The Commodity Futures Trading Commission alleges that the firm improperly charged investors incentive fees, sending them false account statements indicating substantial profits were made. In fact, the funds lost $37.5 million between 2002 and 2007.
The CFTC has also charged Philip Baker, president of the Lake Shore Group of Companies. Baker is now reportedly residing in Germany.
The regulator first charged Lake Shore last June. The firm’s assets have been frozen since the summer, as the CFTC sought access to the firm’s records.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…