Equity firm founded by James Baker's son defrauded company of $5 Million
High-Powered D.C. Operators Accused of Fraud
DALLAS (CN) - A politically connected D.C.-based private equity firm, founded by former Secretary of State James Baker's son, defrauded a company of $5 million by pitching it a $300 million defense sector investment fund whose only "assets" are loan the defendants "squandered," Dallas-based Tice Capital claims in court.
Tice Capital LLC sued Monument Capital Group and its founders Douglas B. Baker and Robert G. Dunn, in Dallas County Court.
Baker, of Alexandria, Va., is the son of former Secretary of State James Baker, who serves on the advisory board of Monument Capital, as does former President George H.W. Bush, Tice says in the complaint.
David Tice is the sole member of Tice Capital, though only the LLC is named as a plaintiff.
"If a Ponzi scheme was uncovered because one of the first investors was paying attention to the financials, it might look something like Monument Capital," the 29-page complaint begins. "The architects, Baker and Dunn, defrauded Tice Capital out of $5 million by representing they would rapidly close on a private equity fund focused on investing in defense sector companies and promising that they would only use Tice Capital's Investment for the general working capital needs of Monument Capital.
http://www.courthousenews.com/2013/07/22/59560.htm
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He's got a ranch and everything...along with a new wife, I think. 
Can't you imagine those "happy hours" at the Baker home.
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