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May 22, 2014

Posted  May 22, 2014

The CFTC obtained an Order against four Hunter Wise related companies and their owners on charges they had fraudulently misrepresented the nature of precious metals transactions that resulted in millions of dollars in customer losses.  Hunter Wise Commodities, Hunter Wise Services, Hunter Wise Credit and Hunter Wise Trading and the individuals running the companies, Fred Jager and Harold Edward Martin, have been ordered to pay $52.6M in restitution to the defrauded customers and to pay a civil penalty of $55.4M.  The Order found that Jager and Martin knowingly defrauded more than 3,200 retail customers for more than 16 months in a manner that was “repeated, callous and blatant.”  CFTC