High Court Dashes Commodity Pool Jurisdiction Appeal

Law360, New York (March 8, 2010, 12:44 PM EST) -- The U.S. Supreme Court on Monday decided not to hear Equity Financial Group LLC's challenge of an appeals court's holding that it was in fact a commodity pool operator even though it managed a feeder fund that did not execute futures transactions.

The high court's ruling handed a final victory to the U.S. Commodity Futures Trading Commission in its long-running fraud case against Equity over an alleged Ponzi scheme.

In July the U.S. Court of Appeals for the Third Circuit ruled against Equity, the company's sole...
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