Federal court orders Fred Jager, Harold E. Martin, Jr. and the
Hunter Wise Companies to Pay over $108 Million in Restitution and
Court Calls Fraudulent Conduct “repeated, callous and blatant”
Washington, DC – The U.S. Commodity Futures Trading Commission
(CFTC) today announced that on May 16, 2014, a federal court in Florida
entered an Order finding in the CFTC’s favor following a trial against
four Hunter Wise related companies and their owners on charges
that they had fraudulently misrepresented the nature of precious metals
transactions that resulted in millions of dollars in customer losses.
Hunter Wise Commodities, LLC, Hunter Wise Services, LLC, Hunter Wise Credit, LLC, and Hunter Wise Trading, LLC and the individuals running the companies, Fred Jager and Harold Edward Martin, Jr.,
have been ordered to pay, jointly and severally, $52.6 million in
restitution to the defrauded customers, and to pay a civil monetary
penalty, jointly and severally, of $55.4 million, the maximum provided
“This result makes clear that the CFTC will aggressively act to
protect customers from fraud. Customers are entitled to know the truth
of how their hard-earned money is being used. Here, customers thought
Defendants were purchasing precious metals on their behalf and they were
not,” said Gretchen L. Lowe, Acting Director of the CFTC’s Division of
Enforcement. “This is also another excellent example of how the CFTC is
using its new enforcement authority under Dodd-Frank to go after
fraudsters.” I have no further comment other than the CFTC is another rotating door in the political quagmire of criminal clowns and hooligans.
“The issue which has swept down the centuries and which will
have to be fought sooner or later is the people versus the banks.” - Lord Acton 1834-1902
“Banking was conceived in inequity and was born in sin.
The bankers own the earth. Take it away from them, but leave them the
ability to create money and with the flick of the pen they will create
enough deposits to buy it back again. However, take it away from them,
and all the great fortunes like mine will disappear and they ought to
disappear, for this would be a happier and better world to live in. But
if, you wish to remain the slaves of bankers and pay the cost of your
own slavery, let them continue to create money.” - Sir Josiah Stamp, Director of the bank of England in 1928, reputed to be the 2nd wealthiest man in England at the time.
My background post BS was recruiting engineers for the automotive industry and then I moved on to finance. I had started investing for the first time during the .com boom and did quite well in very short order, thank you. And just as fast got burned. Being in finance I HAD to learn the markets in order to communicate with my high profile clients. Way leads to way and losses outweighing gains led me to understand how rigged the markets are. That's what led me to silver. That's now my goal, to teach others what I have learned.
All information provided on this blog are the personal opinion of the author. I am not a financial advisor nor do I promote the use of them save a very select few. All individuals are responsible for thier own decisions and I encourage all individuals to make decisions based on their own due diligence pertinent to their needs and comfort level. Knowledge just may be your salvation.