John Chamberlin quoted in Detroit Free Press article, "Did Detroit pension properly vet businessman Robert Shumake?"
Thursday, December 31, 2009
John Chamberlin spoke to the Detroit Free Press about Detroit pension board concerns over investments with businessman Robert Shumake. According to the article, in 2006 the pension boards agreed to invest millions of dollars with Shumake’s company despite inaccuracies on his resume and his involvement in a Fifth Third Bank lawsuit for his alleged role in a mortgage fraud scheme. Chamberlin explains the pension boards should now be concerned that a $1-million judgment lien was recently filed against Shumake for his failure to pay a $750,000 settlement to Fifth Third Bank.