About me
Mr. Baker has extensive receivership experience involving governmental agency and regulatory-related receiverships in both State and Federal courts. Over the past dozen 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, 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 errors in billing practices and protocols, and initiated changes to ensure future billings were performed in accordance with prescribed lawful guidelines.