Shawn D. Baldwin (born February 26, 1966) is in federal prison for defrauding investors of $10,000,000 from 2006-2017. He was an international
financier
An investor is a person who allocates financial capital with the expectation of a future return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some species of property. Type ...
,
trader and
investor
An investor is a person who allocates financial capital with the expectation of a future Return on capital, return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some specie ...
. He was the
chairman
The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...
of AIA Group (AIA), an
alternative investment firm based in
Chicago
(''City in a Garden''); I Will
, image_map =
, map_caption = Interactive Map of Chicago
, coordinates =
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, subdivision_type = Country
, subdivision_name ...
, prior to being indicted for defrauding multiple investors from 2006-2017.
Biography
Baldwin received a
bachelor's degree
A bachelor's degree (from Middle Latin ''baccalaureus'') or baccalaureate (from Modern Latin ''baccalaureatus'') is an undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to six ...
from
Antioch University
Antioch University is a private university with multiple campuses in the United States and online programs. Founded in 1852 as Antioch College, its first president was politician, abolitionist, and education reformer Horace Mann. It changed its ...
. He later studied at the
University of Oxford
, mottoeng = The Lord is my light
, established =
, endowment = £6.1 billion (including colleges) (2019)
, budget = £2.145 billion (2019–20)
, chancellor ...
's
Saïd Business School
Saïd Business School (Oxford Saïd or SBS) is the business school of the University of Oxford. The School is a provider of management education and is consistently ranked as one of the world's top business schools.
Oxford School of Management ...
, where he received an
M.F.S.
Professional career
Headquartered in Chicago, Baldwin's Capital Management Group (CMG) was formed through the acquisition of several companies. First, Baldwin acquired in November 2001 MuniDirect, a
broker-dealer
In financial services, a broker-dealer is a natural person, company or other organization that engages in the business of trading securities for its own account or on behalf of its customers. Broker-dealers are at the heart of the securities and d ...
based in
Atlanta
Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...
,
Georgia
Georgia most commonly refers to:
* Georgia (country), a country in the Caucasus region of Eurasia
* Georgia (U.S. state), a state in the Southeast United States
Georgia may also refer to:
Places
Historical states and entities
* Related to the ...
. In December of that same year, Baldwin bought KCM Capital Management, a
broker-dealer
In financial services, a broker-dealer is a natural person, company or other organization that engages in the business of trading securities for its own account or on behalf of its customers. Broker-dealers are at the heart of the securities and d ...
based in
Anguilla
Anguilla ( ) is a British Overseas Territory in the Caribbean. It is one of the most northerly of the Leeward Islands in the Lesser Antilles, lying east of Puerto Rico and the Virgin Islands and directly north of Saint Martin. The territo ...
but headquartered in
Chicago
(''City in a Garden''); I Will
, image_map =
, map_caption = Interactive Map of Chicago
, coordinates =
, coordinates_footnotes =
, subdivision_type = Country
, subdivision_name ...
. He also gained control of the Stature Multi-Allocation Fund, a
hedge fund
A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as sho ...
worth $56 million.
From 2002 to 2005, CMG participated in over 75 transactions for a par of over $68 billion in equity and debt transactions, which included
Google
Google LLC () is an American multinational technology company focusing on search engine technology, online advertising, cloud computing, computer software, quantum computing, e-commerce, artificial intelligence, and consumer electronics. ...
and
The Travelers Companies
The Travelers Companies, Inc., commonly known as Travelers, is an American insurance company. It is the second-largest writer of U.S. commercial property casualty insurance, and the sixth-largest writer of U.S. personal insurance through indepen ...
.
In December 2006, the National Association of Securities Dealers (later renamed to
Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Associati ...
) expelled CMG and Baldwin, preventing the company from continuing its trade activities.
The expulsion and bar were overturned by FINRA adjudicators in a January 2009 decision in which they cited "contradictory" statements by the regulators. Baldwin and CMG were given a $25,000 fine and two-year suspension for not fully responding in which he did not submit a deposit ticket for a wire and a bank statement for a brokerage account. This $25,000 fine made him file for bankruptcy that same year.
February 26, 2019 he was indicted by a federal jury after he swindled at least fifteen investors and lenders out of a collective $10,000,000. Baldwin’s fraud scheme began in 2006 and continued until 2017 and occurred when owned and controlled various investment firms in Chicago. He 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. He is currently incarcerated in federal prison in Chicago.
On Monday, October 18, 2021, Baldwin was sentenced to 17 years in federal prison for his financial crime by U.S. District Judge John Robert Blakey after a hearing in federal court in Chicago.
Media coverage and distinctions
Baldwin has been profiled in many
magazine
A magazine is a periodical publication, generally published on a regular schedule (often weekly or monthly), containing a variety of content. They are generally financed by advertising, purchase price, prepaid subscriptions, or by a combinatio ...
s,
including ''
The Economist
''The Economist'' is a British weekly newspaper printed in demitab format and published digitally. It focuses on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by The Econo ...
'', ''
BusinessWeek
''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City ...
'', ''
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...
'', ''
Fortune
Fortune may refer to:
General
* Fortuna or Fortune, the Roman goddess of luck
* Luck
* Wealth
* Fortune, a prediction made in fortune-telling
* Fortune, in a fortune cookie
Arts and entertainment Film and television
* ''The Fortune'' (1931 film) ...
'', ''
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as ...
'', and ''
Investment Dealers' Digest'', and has appeared on a number of
television network
A television network or television broadcaster is a telecommunications network for distribution of television program content, where a central operation provides programming to many television stations or multichannel video programming distributo ...
s, including
Bloomberg Bloomberg may refer to:
People
* Daniel J. Bloomberg (1905–1984), audio engineer
* Georgina Bloomberg (born 1983), professional equestrian
* Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and ma ...
,
CNN
CNN (Cable News Network) is a multinational cable news channel headquartered in Atlanta, Georgia, U.S. Founded in 1980 by American media proprietor Ted Turner and Reese Schonfeld as a 24-hour cable news channel, and presently owned by ...
,
CNBC
CNBC (formerly Consumer News and Business Channel) is an American basic cable business news channel. It provides business news programming on weekdays from 5:00 a.m. to 7:00 p.m., Eastern Time, while broadcasting talk sho ...
,
NBC
The National Broadcasting Company (NBC) is an American English-language commercial broadcast television and radio network. The flagship property of the NBC Entertainment division of NBCUniversal, a division of Comcast, its headquarters are l ...
, and
CBS
CBS Broadcasting Inc., commonly shortened to CBS, the abbreviation of its former legal name Columbia Broadcasting System, is an American commercial broadcast television and radio network serving as the flagship property of the CBS Entertainm ...
.
''Investment Dealers' Digest'' named him one of the Top 40 Investment Bankers under 40.
In 2006, Baldwin was named one of the Top 75 Blacks on
Wall Street
Wall Street is an eight-block-long street in the Financial District of Lower Manhattan in New York City. It runs between Broadway in the west to South Street and the East River in the east. The term "Wall Street" has become a metonym for t ...
by ''
Black Enterprise
''Black Enterprise'' is a black-owned multimedia company. Since the 1970s, its flagship product ''Black Enterprise'' magazine has covered African-American businesses with a readership of 3.7 million. The company was founded in 1970 by Earl G ...
.'' He is a contributor to the financial articles of ''
Fast Company
''Fast Company'' is a monthly American business magazine published in print and online that focuses on technology, business, and design. It publishes six print issues per year.
History
''Fast Company'' was launched in November 1995 by Alan Web ...
''
and ''
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...
''. In 2006, Baldwin was the financial spokesperson for
BlackBerry
The blackberry is an edible fruit produced by many species in the genus ''Rubus'' in the family Rosaceae, hybrids among these species within the subgenus ''Rubus'', and hybrids between the subgenera ''Rubus'' and ''Idaeobatus''. The taxonomy of ...
and the subject of commercials and a print campaign that ran in ''
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...
'', ''
Fortune
Fortune may refer to:
General
* Fortuna or Fortune, the Roman goddess of luck
* Luck
* Wealth
* Fortune, a prediction made in fortune-telling
* Fortune, in a fortune cookie
Arts and entertainment Film and television
* ''The Fortune'' (1931 film) ...
'' and ''
BusinessWeek
''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City ...
''.
Baldwin has been also quoted in ''
The Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...
''.
References
External links
Official website
{{DEFAULTSORT:Baldwin, Shawn
Living people
1966 births
Alumni of Saïd Business School
American financiers
American investors
Antioch College alumni
Businesspeople from Dayton, Ohio