CFTC Sues Hunter Wise Over $46M Commodity Trading Scheme

Law360, New York (December 6, 2012, 6:12 PM EST) -- Hunter Wise Commodities LLC was hit with a lawsuit Wednesday by the U.S. Commodity Futures Trading Commission, accusing the Las Vegas-based commodity trading and financing firm of taking in some $46 million in funds since July 2011 from retail customers for allegedly illicit commodity transactions.

In a complaint filed in Florida federal court, the CFTC claimed the company falsely told customers it sells physical commodities including gold and silver, when in fact customers don’t actually end up owning any of those metals, but can only speculate...
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Case Information

Case Title

United States Commodity Futures Trading Commission v. Hunter Wise Commodities LLC et al


Case Number

9:12-cv-81311

Court

Florida Southern

Nature of Suit

Securities/Commodities

Judge

Donald M. Middlebrooks

Date Filed

December 5, 2012

Government Agencies

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