Evolution Veterinary Specialists at 34 Van Gordon St. in Lakewood in seen on Thursday, Oct. 24, 2024. (Justin Wingerter/BusinessDen)
A veterinary hospital in Lakewood alleges that its former CEO — and husband of the hospital’s owner — “systematically looted the business through various criminal schemes.”
Michael Lake-Bakaar, 47, is accused of robbing Evolution Veterinary Specialists of more than $1 million between 2021 and his firing in February through an audacious assortment of crimes, including bribery, racketeering, forgery and a fictitious job for his 6-year-old son.
“This betrayal by a trusted partner and fiduciary is outrageous, unconscionable and has severely impacted this once-thriving veterinary practice,” according to an Oct. 22 lawsuit.
Founded in 2018 by Dr. Geri Lake-Bakaar, a Harvard-educated veterinary cardiologist, EVS operates at 34 Van Gordon St. in Lakewood and has 92 employees. Last year, the hospital was ranked No. 173 on Inc.’s annual list of the fastest-growing American companies.
Michael Lake-Bakaar, who previously worked in construction and as chief financial officer for another veterinary practice, was the first CEO of EVS, according to LinkedIn. “The sole reason” for that, according to EVS, “was his status as the husband of Dr. Lake-Bakaar.”
Michael Lake-Bakaar (LinkedIn)
A recent online biography claimed he was “embracing transparency and honesty” as CEO.
“Central to his approach is the unwavering commitment to prioritize the best interests of the business above personal gain — a foundational ethos that underscores his role,” it said.
But Evolution Veterinary Specialists said “nothing could be further from the truth.”
The company claims that Michael Lake-Bakaar created a phony payroll firm, Natural Selection Collective, and required EVS to pay it $113,128 for payroll services that were never provided. That firm allegedly received pet insurance payments that were meant for EVS as well.
Lake-Bakaar is also accused of using Natural Selection to create a fictitious employee account for his and Dr. Lake-Bakaar’s young son, giving him the title of office assistant and requiring EVS to pay him through Michael Lake-Bakaar, who then “spent the money on himself.”
Next, the former CEO reportedly formed a real estate holdings company and had it buy 34 Van Gordon St., which EVS was renting at the time, in June 2022. Lake-Bakaar then signed both sides of an onerous lease deal that saddled EVS with unusually high and ever-climbing rent payments for a decade. EVS said that it paid his holding company $722,000.
Lake-Bakaar also allegedly required EVS to pay off his personal credit cards each month from 2021 to early 2024. The payments covered what EVS calls his “excessive spending habits,” including bodybuilding courses, liquor, dining, clothes and household goods. He is also accused of wiring $215,000 to himself and lifting $82,000 from the company’s safe.
Founded in 2018, EVS employs 92 people. (Justin Wingerter/BusinessDen)
Lake-Bakaar’s wrongdoing did not stop after his February firing, according to his former employer. On March 1, he talked with his replacement and suggested she secretly pay him $42,000 and pay herself an $8,000 bonus, according to EVS. She refused to do so.
The hospital believes that Lake-Bakaar’s pattern of theft, wire fraud, bribery and forgery was so extensive that it came to violate anti-organized crime laws around racketeering. The company is seeking millions of dollars from its former CEO but doesn’t cite a specific dollar amount.
EVS’ lawyers are Jeff Pagliuca and Chris Montville at Haddon Morgan & Foreman in Denver. Through her attorneys, Geri Lake-Bakaar declined to discuss her company’s case.
Michael Lake-Bakaar did not respond to emails requesting comment. A man who answered his listed cellphone number claimed it was a wrong number. At his listed address in Golden, a young woman who works in the home said that Lake-Bakaar no longer lives there.
Evolution Veterinary Specialists at 34 Van Gordon St. in Lakewood in seen on Thursday, Oct. 24, 2024. (Justin Wingerter/BusinessDen)
A veterinary hospital in Lakewood alleges that its former CEO — and husband of the hospital’s owner — “systematically looted the business through various criminal schemes.”
Michael Lake-Bakaar, 47, is accused of robbing Evolution Veterinary Specialists of more than $1 million between 2021 and his firing in February through an audacious assortment of crimes, including bribery, racketeering, forgery and a fictitious job for his 6-year-old son.
“This betrayal by a trusted partner and fiduciary is outrageous, unconscionable and has severely impacted this once-thriving veterinary practice,” according to an Oct. 22 lawsuit.
Founded in 2018 by Dr. Geri Lake-Bakaar, a Harvard-educated veterinary cardiologist, EVS operates at 34 Van Gordon St. in Lakewood and has 92 employees. Last year, the hospital was ranked No. 173 on Inc.’s annual list of the fastest-growing American companies.
Michael Lake-Bakaar, who previously worked in construction and as chief financial officer for another veterinary practice, was the first CEO of EVS, according to LinkedIn. “The sole reason” for that, according to EVS, “was his status as the husband of Dr. Lake-Bakaar.”
Michael Lake-Bakaar (LinkedIn)
A recent online biography claimed he was “embracing transparency and honesty” as CEO.
“Central to his approach is the unwavering commitment to prioritize the best interests of the business above personal gain — a foundational ethos that underscores his role,” it said.
But Evolution Veterinary Specialists said “nothing could be further from the truth.”
The company claims that Michael Lake-Bakaar created a phony payroll firm, Natural Selection Collective, and required EVS to pay it $113,128 for payroll services that were never provided. That firm allegedly received pet insurance payments that were meant for EVS as well.
Lake-Bakaar is also accused of using Natural Selection to create a fictitious employee account for his and Dr. Lake-Bakaar’s young son, giving him the title of office assistant and requiring EVS to pay him through Michael Lake-Bakaar, who then “spent the money on himself.”
Next, the former CEO reportedly formed a real estate holdings company and had it buy 34 Van Gordon St., which EVS was renting at the time, in June 2022. Lake-Bakaar then signed both sides of an onerous lease deal that saddled EVS with unusually high and ever-climbing rent payments for a decade. EVS said that it paid his holding company $722,000.
Lake-Bakaar also allegedly required EVS to pay off his personal credit cards each month from 2021 to early 2024. The payments covered what EVS calls his “excessive spending habits,” including bodybuilding courses, liquor, dining, clothes and household goods. He is also accused of wiring $215,000 to himself and lifting $82,000 from the company’s safe.
Founded in 2018, EVS employs 92 people. (Justin Wingerter/BusinessDen)
Lake-Bakaar’s wrongdoing did not stop after his February firing, according to his former employer. On March 1, he talked with his replacement and suggested she secretly pay him $42,000 and pay herself an $8,000 bonus, according to EVS. She refused to do so.
The hospital believes that Lake-Bakaar’s pattern of theft, wire fraud, bribery and forgery was so extensive that it came to violate anti-organized crime laws around racketeering. The company is seeking millions of dollars from its former CEO but doesn’t cite a specific dollar amount.
EVS’ lawyers are Jeff Pagliuca and Chris Montville at Haddon Morgan & Foreman in Denver. Through her attorneys, Geri Lake-Bakaar declined to discuss her company’s case.
Michael Lake-Bakaar did not respond to emails requesting comment. A man who answered his listed cellphone number claimed it was a wrong number. At his listed address in Golden, a young woman who works in the home said that Lake-Bakaar no longer lives there.
