Chicago, IL-(ENEWSPF)- 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…
