Fla. Commodities Fraudster Fined $1.1M, Barred From Trading

Law360, New York (February 26, 2014, 6:38 PM EST) -- A Florida federal court on Wednesday entered a permanent injunction and levied combined penalties of over $1.1 million against a telemarketing firm the U.S. Commodity Futures Trading Commission accused of helping commodity traders mislead their customers.

According to the initial suit, commodity traders at Hunter Wise Commodities LLC, aided by telemarketer United States Capital Trust LLC and other accomplices, duped customers into believing they were buying physical gold and silver, when in fact they were only speculating on the metals' price direction. This netted the defendants...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.