Episode #3: Did Paul Maines Solicit an Investment from Jeff Trainor?

Judge Campbell states, “Dowling’s affidavit does not state that Maines solicited the Trainors to invest. However, there is no denial an investment was made.”

In fact, notwithstanding Judge Campbell’s claim, Dowling’s affidavit does indeed state that Maines solicited the Trainors to invest. In paragraph 5(d) Dowling states:

“Upon transferring her investment account, Ms. Trainor informed Mr. Curran that, on the recommendation of Mr. MacEachern, she and her husband Jeff Trainor had, during 2011, made a $30,000 investment after having been solicited to do so by Mr. Maines.”

Jeff Trainor’s Affidavit completely refutes Dowling sworn testimony:

“With respect to paragraph 5(d) of the affidavit of Steven Dowling…in connection with my investment in Capital Markets Technologies, I confirm that I was not “solicited” by Mr. Paul Maines.” 

Judge Campbell goes on to state in paragraph 486 of his ruling that:

“Dowling also described the contents of an email and attachments originally sent by Maines to Jeff Trainor which included the same investment information Hashmi had received from Maines.”

Again, Jeff Trainor completely denies Dowling’s claim that Paul Maines sent an email and attachments to him, as is clear in paragraph 6:

There are a number of other “corrections” to Dowling’s affidavit by Trainor, including that his wife never invested in CMT, that she never worked for RBC Securities, and that the amount of $30,000 cited by Dowling was inaccurate.  His affidavit essentially portrays Dowling as having harassed him – and especially his wife – and he provides the following reason why he decided to swear an affidavit in this matter:

“11.  I agreed to make this affidavit in large part by what I perceive to be unprofessional conduct of Mr. Dowling as a lawyer and as a representative of the Superintendent of Securities.”

Read the entire affidavit (5 pages) to get a sense of how Dowling inappropriately involved Jeff Trainor and his wife in this matter and misrepresented the facts in his sworn affidavit.

The Truth?

Despite unequivocal refutation by Jeff Trainor in his sworn affidavit refuting claims made by Steven Dowling that Trainor: (a) was solicited by Paul Maines to invest in CMT, and (b) received “an email and attachments” from Paul Maines with investment information; Campbell excuses the false information sworn by Dowling as insignificant saying: “There was no evidence presented to show any intentional misstatement by Dowling, and if the statements were incorrect through inadvertence, negligent conduct does not constitute misfeasance.” 

The Consequences?

None.