Hunter Wise companies to pay $108M to US CFTC for fraud

The U.S. Commodity Futures Trading Commission said on Thursday a court had ordered four firms related to Hunter Wise and their management to pay more than $108 million in restitution and penalties in a fraud case it launched in 2012.

Read More US CFTC pledges swaps relief for public utilities

The Southern District Court in Florida ordered the four companies and two individuals running them—Fred Jager and Harold Edward Martin, Jr.—to pay $52.6 million in restitution to defrauded customers, and to pay a civil monetary penalty of $55.4 million, the CFTC said.



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American Greed

  • Brothers Darain and Cory Atkinson start US FIDELIS, a business selling vehicle service contracts. But when the cars break down those "warranties" prove worthless while the brothers pocket millions and live it up.

  • When customers found fault in their car service contracts, confusion ensued on who to hold responsible.

  • While U.S. Fidelis was bringing in business, the Better Business Bureau was receiving thousands of complaints against the company.