About me
Mr. Baker has extensive receivership experience involving governmental agency and regulatoryrelated
receiverships in both State and Federal courts. For nearly 20 years, Mr. Baker has been
appointed on or served as lead agent on numerous receiverships originating from agencies
including the Securities and Exchange Commission, Department of Justice, and multiple District
Attorney’s offices, among others.
Mr. Baker’s most significant assignment was in the matter of Private Equity Management Group
– a billion-dollar Ponzi scheme exposed in Federal Court by the Securities and Exchange
Commission that led to the appointment of a Federal Equity Receiver. Mr. Baker was tasked with
tracing $1 billion worth of investment from nine investors over a 10-year period into 46 investment
vehicles located in the British Virgin Islands. The overall investments included over 50 assets and
275 life insurance policies (with over a billion dollars in face value) and a cash flow requirement
of $70 million per year to keep the premiums current. Most of the assets were jointly owned by
multiple investors. This analysis provided the basis for the court- approved distribution plan to
victims of the $336 million recovery.
Another regulatory example includes a medical equipment vendor that came under the scrutiny of
the Orange County District Attorney. The company was accused of fraudulent billing practices
overcharging insurance providers and Medicare. Mr. Baker oversaw the review of the invoicing
practices of the business, determined billing practice and protocol errors, and initiated changes to
ensure future billings were performed in accordance with prescribed lawful guidelines.
Other regulatory receivership examples include:
• SEC vs. Private Equity Management Group – A $1B Ponzi scheme involving 8- large
foreign banks investing in a private equity company. Assets spanned the globe and Mr.
Baker led the receivership team as well as the forensic accounting effort.
• SEC vs. Home Paradise Investment Center, LLC – A $29.5M EB-5 immigration
investment program fraught with allegations of fraud and misappropriation.
• SEC vs. Capital Cove Bancorp, LLC – A $17.3M Ponzi scheme involving investments
in 37-residential “fix-and-flips” homes. With promises of 12-30% returns, investors were
promised first-place deeds of trust. In reality, however, they were often in third or fourth
place and typically behind hard-money lenders.
• People of the United States (DOJ) vs. Shipley et al. – An action brought by the
Department of Justice relating to delinquent IRS taxes of $18.3M. Tasks involved
maximizing the recovery from three residential mansions totally 45,000 square feet, 50
paintings and 223 antiques and other valuable artifacts.
• SEC vs. Secured Capital Investments – A $14M Ponzi scheme involving real estate
assets, tax liens, startup investments and loans to insiders.
• The People of the State of California (Orange County DA) vs. Campau et al. – A medical
equipment supplier accused of fraudulent billing practices that were, with the assistance
of the receiver, brought back into compliance.
• The People of the State of California (Orange County DA) vs. Suleiman et al. – A
mortgage refinance fraud that involved liquidating assets and distributing approximately
$500K to harmed victims.
