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Jan. 31, 2013 /PRNewswire/ -- The United States Commodity Futures Trading Commission ("CFTC") in a
January 28, 2013 Press Release, PR6503-13, has made improper and opportunistic accusations directed at Hunter Wise Commodities, LLC, a
The recent announcement by the CFTC concerning the actions of four
Florida precious metals firms falsely attempts to link the activities and actions of those separately held and operated businesses with Hunter Wise Commodities, illustrating, yet again, the agency's lack of understanding as to how the precious metals industry functions. The CFTC's public release was an egregious attempt to mislead the public and harm the legitimate business relationships of
The CFTC included
Hunter Wise in their public release regarding an unrelated settlement order to disparage
Hunter Wise publicly. The CFTC did so through words crafted by its own personnel, then attributed those words to the settling parties, parties looking to avoid liability for their own actions and willing to make assertions that fittingly align with the CFTC's continued disparagement. The CFTC is using obfuscation and bullying tactics to attempt to falsely disparage
Hunter Wise in the court of public opinion.
With the passage of new federal law there now exists a debate regarding the proper way to conduct commodity transactions. In September of 2012,
Hunter Wise asked the federal court in the Northern District of
Illinois to resolve this debate. In December of 2012, the CFTC responded by filing a lawsuit against
Hunter Wise in the Southern District of Florida. The debate should be determined by the two courts the parties have presented with the issues. The debate is now before the courts and that forum as opposed to the public forum is the appropriate place to settle this disagreement.
Hunter Wise Commodities has pledged to fight the CFTC on all allegations and has reason to believe it will prevail when judged in open court.