Federal Court Freezes Assets of Hedge Fund in Chicago

Lake Shore, based in Chicago, said that it managed $1 billion for investors and traded in United States commodity futures contracts, according to the Commodity Futures Trading Commission. A review showed that the fund had about $466 million, Bloomberg News reported.

Lake Shore barred regulators from inspecting its accounts on June 14, which is a violation of the Commodity Exchange Act, according to the commission's complaint, Bloomberg News reported.

Laurence M. Rosenberg is listed as Lake Shore's director, according to records from the National Futures Association, a self-regulating group for the futures industry. He is a previous chairman of the Chicago Mercantile Exchange, the largest American futures exchange. Lake Shore had been profitable 13 years in a row, the trading commission said, Bloomberg News reported.

Rosenberg did not return a call for comment from Bloomberg News. Drew Mauck, a spokesman for the company, declined to comment to Bloomberg News.-New York State Society of Certified Public Accountants