CFTC ACTION: three Canadian defendants charged

 The CFTC announced that a federal court entered default judgment orders against Robin States and his wife Bernadette Bowden, both of Nova Scotia, Canada, and relief defendant Paul States, of British Columbia, Canada, in a CFTC action charging the defendants with fraudulent solicitation and misappropriation in connection with the operation of commodity pool known as Infinity Online Investors Group.
The default orders find that States and Bowden fraudulently solicited approximately Can$ 643,047 from approximately 900 individuals in the United States, Canada and elsewhere to participate in Infinity. According to the orders, Infinity never did any trading. Instead defendants misappropriated the participants’ funds.

About The Author

Felix Shipkevich

Felix Shipkevich is a Manhattan-based attorney and general counsel for Shipkevich Law Firm. He has extensive experience working with the CFTC and NFA on registration, compliance, and enforcement issues for CPOs, CTAs, FCMs, IBs, and RFEDs. Felix also practices intellectual property and corporate governance law.