Chicago Investment Manager Indicted on Federal Fraud Charges for Allegedly Swindling $10 Million From Clients, Lenders
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The indictment was returned on
The indictment was announced by
According to the indictment, Baldwin obtained funds from individual investors, as well as from corporate lenders who lent him money for use in business and personal dealings. Baldwin claimed that compliance officers and professional advisors were affiliated with his firms, when, in fact, no such relationships existed, the indictment states. Baldwin also deceived the investors and lenders by misrepresenting and minimizing the serious disciplinary actions taken against him by regulators, the indictment states. The regulatory actions included the revocation of his certifications with the
The public is reminded that an indictment is not evidence of guilt. The defendant is presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.
Each count of wire fraud is punishable by up to 20 years in prison. If convicted, the Court must impose a reasonable sentence under federal statutes and the advisory
The government is represented by Assistant
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