Score:   1
Docket Number:   ND-IL  1:17-cr-00787
Case Name:   USA v. Baldwin
  Press Releases:
CHICAGO — A federal jury today convicted a Chicago investment manager on fraud charges for swindling more than $10 million from clients and lenders.

SHAWN BALDWIN, who owned and controlled various investment firms in Chicago, exaggerated his financial success and professional connections to fraudulently obtain more than $10 million from at least 15 investors and lenders.  Baldwin falsely claimed that their funds would be invested in stocks and other investment products, when in reality he spent the money for his own personal benefit.  Baldwin’s fraud scheme began in 2006 and continued until 2017.

The jury in U.S. District Court in Chicago convicted Baldwin, 53, of Olympia Fields, on seven counts of wire fraud.  U.S. District Judge John Robert Blakey set sentencing for July 9, 2019.

The conviction was announced by John R. Lausch, Jr., United States Attorney for the Northern District of Illinois; and Jeffrey S. Sallet, Special Agent-in-Charge of the Chicago office of the Federal Bureau of Investigation.  The government is represented by Assistant U.S. Attorneys Matthew Getter, Heidi Manschreck and Michelle Petersen.

According to evidence presented at trial, 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 no such relationships actually existed. 

Baldwin also deceived investors and lenders by misrepresenting and minimizing the serious disciplinary actions taken against him by regulators.  The regulatory actions included the revocation of his certifications with the Financial Industry Regulatory Authority in 2009, and a permanent prohibition from offering securities sales or investment advice, which the State of Illinois imposed in 2013.

Evidence at trial further revealed that Baldwin attempted to conceal the fraud scheme by furnishing victims with bogus account statements that misrepresented the value of their funds.  He also lulled his victims by falsely maintaining that he was developing lucrative business deals and new contacts that would lead to profits from initial public stock offerings.  In reality, Baldwin could not pay back investors because he had lost or spent their money.

Each count of wire fraud is punishable by up to 20 years in prison.  The Court must impose a reasonable sentence under federal statutes and the advisory U.S. Sentencing Guidelines.

CHICAGO — A Chicago investment manager has been indicted for allegedly swindling more than $10 million from clients and lenders.

SHAWN BALDWIN, who owned and controlled various investment-related firms in Chicago, exaggerated his financial success and professional connections to fraudulently obtain more than $10 million from at least 17 investors and lenders, according to an indictment returned in federal court in Chicago.  Baldwin falsely claimed that their funds would be invested in stocks and other investment products, when, in fact, Baldwin spent the money for his own personal benefit, the indictment states.  The fraud scheme alleged in the indictment began in 2006 and continued until May of this year.

The indictment was returned on Dec. 7, 2017, and ordered unsealed on Monday.  It charges Baldwin, 51, of Olympia Fields, with eight counts of wire fraud.  Baldwin pleaded not guilty at a Monday arraignment in federal court in Chicago.  A status hearing is set for Dec. 28, 2017, at 1:00 p.m., before U.S. District Judge John Robert Blakey.

The indictment was announced by John R. Lausch, Jr., United States Attorney for the Northern District of Illinois; and Jeffrey S. Sallet, Special Agent-in-Charge of the Chicago office of the Federal Bureau of Investigation.

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 Financial Industry Regulatory Authority in 2009, and a permanent prohibition from offering securities sales or investment advice, which the State of Illinois imposed in 2013.

Baldwin attempted to conceal the scheme by furnishing victims with fraudulent account statements that misrepresented the value of their funds, the indictment states.  Baldwin also lulled his victims by falsely maintaining that he was working on lucrative business deals and developing new contacts that would lead to profits from initial public stock offerings, the indictment states.  In reality, Baldwin knew he could not pay back investors because he had lost or spent their money, the charges allege.

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 U.S. Sentencing Guidelines.

The government is represented by Assistant U.S. Attorney Matthew Getter.

Docket (0 Docs):   https://docs.google.com/spreadsheets/d/1xbJFvV9OKEqT40hL0z-ZQUfJR923uy-bMqLZf7ZFm4w
  Last Updated: 2023-10-15 09:00:36 UTC
Description: The fiscal year of the data file obtained from the AOUSC
Format: YYYY

Description: The code of the federal judicial circuit where the case was located
Format: A2

Description: The code of the federal judicial district where the case was located
Format: A2

Description: The code of the district office where the case was located
Format: A2

Description: Docket number assigned by the district to the case
Format: A7

Description: A unique number assigned to each defendant in a case which cannot be modified by the court
Format: A3

Description: A unique number assigned to each defendant in a case which can be modified by the court
Format: A3

Description: A sequential number indicating whether a case is an original proceeding or a reopen
Format: N5

Description: Case type associated with the current defendant record
Format: A2

Description: A concatenation of district, office, docket number, case type, defendant number, and reopen sequence number
Format: A18

Description: A concatenation of district, office, docket number, case type, and reopen sequence number
Format: A15

Description: The status of the defendant as assigned by the AOUSC
Format: A2

Description: A code indicating the fugitive status of a defendant
Format: A1

Description: The date upon which a defendant became a fugitive
Format: YYYYMMDD

Description: The date upon which a fugitive defendant was taken into custody
Format: YYYYMMDD

Description: The date when a case was first docketed in the district court
Format: YYYYMMDD

Description: The date upon which proceedings in a case commenced on charges pending in the district court where the defendant appeared, or the date of the defendant’s felony-waiver of indictment
Format: YYYYMMDD

Description: A code used to identify the nature of the proceeding
Format: N2

Description: The date when a defendant first appeared before a judicial officer in the district court where a charge was pending
Format: YYYYMMDD

Description: A code indicating the event by which a defendant appeared before a judicial officer in the district court where a charge was pending
Format: A2

Description: A code indicating the type of legal counsel assigned to a defendant
Format: N2

Description: The title and section of the U.S. Code applicable to the offense committed which carried the highest severity
Format: A20

Description: A code indicating the level of offense associated with FTITLE1
Format: N2

Description: The four digit AO offense code associated with FTITLE1
Format: A4

Description: The four digit D2 offense code associated with FTITLE1
Format: A4

Description: A code indicating the severity associated with FTITLE1
Format: A3

Description: The FIPS code used to indicate the county or parish where an offense was committed
Format: A5

Description: The date of the last action taken on the record
Format: YYYYMMDD

Description: The date upon which judicial proceedings before the court concluded
Format: YYYYMMDD

Description: The date upon which the final sentence is recorded on the docket
Format: YYYYMMDD

Description: The date upon which the case was closed
Format: YYYYMMDD

Description: The total fine imposed at sentencing for all offenses of which the defendant was convicted and a fine was imposed
Format: N8

Description: A count of defendants filed including inter-district transfers
Format: N1

Description: A count of defendants filed excluding inter-district transfers
Format: N1

Description: A count of original proceedings commenced
Format: N1

Description: A count of defendants filed whose proceedings commenced by reopen, remand, appeal, or retrial
Format: N1

Description: A count of defendants terminated including interdistrict transfers
Format: N1

Description: A count of defendants terminated excluding interdistrict transfers
Format: N1

Description: A count of original proceedings terminated
Format: N1

Description: A count of defendants terminated whose proceedings commenced by reopen, remand, appeal, or retrial
Format: N1

Description: A count of defendants pending as of the last day of the period including long term fugitives
Format: N1

Description: A count of defendants pending as of the last day of the period excluding long term fugitives
Format: N1

Description: The source from which the data were loaded into the AOUSC’s NewSTATS database
Format: A10

Description: A sequential number indicating the iteration of the defendant record
Format: N2

Description: The date the record was loaded into the AOUSC’s NewSTATS database
Format: YYYYMMDD

Description: Statistical year ID label on data file obtained from the AOUSC which represents termination year
Format: YYYY

Data imported from FJC Integrated Database
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