Sentinel Management Group

Indictment of Philip Baker for alleged investment fraud involving the Lake Shore Group of Companies.

Two former officers of a U. S.-based investment adviser have been accused of perpetrating a "massive fraud" against clients, who include an offshore bank and several offshore hedge funds.The conduct of Eric A. Bloom, 42, a resident of Northbrook, Illinois, and Charles K. Mosley, 43, a resident of Vernon Hills, Illinois, caused the loss of "several hundred million dollars" of approximately $1.4 billion of assets under management that their Chicago-based firm, Sentinel Management Group Inc., had at the time it filed for bankruptcy last year, according to the U. S. Securities and Exchange Commission.

Former Canada-based offshore services provider Peter Sabourin and related parties, including companies he controlled in the British Virgin Islands and the Bahamas, have been ordered to pay $1.77 million in compensatory and punitive damages, plus costs and fees, to the victim of an investment scam they perpetrated; Creditors of St. Vincent and the Grenadines-licensed Horizon Bank International Limited (in liquidation) took a massive hit at Bermuda Supreme Court on March 31, 2008 when Justice Ian Kawaley awarded damages of $20 million against the bank for conspiracy to defraud and breach of fiduciary duty in a civil complaint filed by Canadians Allen Walsh and Hans Taal; and Alleging fraud, segregation and false reporting violations involving $562 million in client funds, the U. S. Commodity Futures Trading Commission filed a complaint against Sentinel Management Group Inc. (in bankruptcy) and two of its former officers, Eric Bloom and Charles Mosley, at federal court in the USA on April 28, 2008.

Eight companies domiciled in the British Virgin Islands, four in the Turks and Caicos Islands, and one each in the United States and the United Kingdom have been added as parties in litigation brought by the U. S. Commodity Futures Trading Commission against the Lake Shore group of hedge funds.

A bank and seven investment funds all domiciled in Caribbean countries are among the 20 largest unsecured creditors of a U. S. based investment adviser that has filed for bankruptcy in Chicago and is being sued for fraud by the

A bank and seven investment funds all domiciled in Caribbean countries are among the 20 largest unsecured creditors of a U. S.-based cash management firm that has filed for bankruptcy in Chicago.

A contempt of court motion has been filed in the United States against a Bermuda-based firm that manages several hedge funds registered in the British Virgin Islands and also has ties to Canada and Switzerland.Lake Shore Asset Management Limited, which is believed to manage at least $466 million, has refused to turn over documents to the Commodity Futures Trading Commission in breach of a Statutory Ex-Parte Restraining Order issued seven days earlier, stated the regulator in its contempt motion at the U. S. District Court for the Northern District of Illinois on July 3, 2007.