CFTC Broadens Lawsuit Against Lake Shore

Law360, New York (February 21, 2008, 12:00 AM EST) -- Regulators have filed additional allegations against hedge fund Lake Shore Asset Management Ltd. in an amended complaint to a U.S. federal court, accusing the commodity pool operator of scamming hundreds of millions of dollars from investors and siphoning millions more in illegal fees and expenses.

The U.S. Commodity Futures Trading Commission said Thursday that a second amended complaint was filed in the Chicago district court this week, adding charges against 12 additional commodity pools controlled by embattled Lake Shore principal Philip J. Baker.

The modified complaint...
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