On December 12, 2017, John R. Lausch, Jr., the U.S. Attorney for the Northern District of Illinois, announced the unsealing of an indictment charging Shawn Baldwin with eight counts of wire fraud.  Baldwin, an investment manager based in Chicago, is alleged to have made false statements regarding his financial connections and professional qualifications to potential investors.  Baldwin allegedly told investors that their money would be invested in various stocks and funds, but actually used investors’ money for his personal benefit.  He is also alleged to have provided falsified account statements to investors, and to have lied about disciplinary and regulatory actions taken against him, including the 2009 revocation of his Financial Industry Regulatory Authority certifications and his 2013 prohibition from offering securities sales or investment advice. Baldwin, who is alleged to have made more than $10 million through his schemes, pled not guilty.  U.S. v. Baldwin, 1:17-CR-00787 (N.D. Ill.).

DOJ Press Release