Lake Shore Asset Management chief Philip J. Baker indicted

Chicago Tribune – Federal prosecutors have unsealed a wide-ranging indictment against Philip J. Baker, accusing the head of Chicago-based hedge fund Lake Shore Asset Management Ltd. of defrauding hundreds of investors out of roughly $312 million.

U.S. Atty. Patrick Fitzgerald announced the 27-count indictment Tuesday and said it "was unsealed to facilitate international efforts to apprehend Baker."

Baker is a 44-year-old Canadian citizen last spotted living in Hamburg, Germany, whose location is unknown, prosecutors said. The charges include fraud, obstruction of justice and criminal contempt.

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