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Payments Billionaire Found to Have Knowingly Deceived Customers

  • Court rules against FleetCor and CEO Ron Clarke in FTC case
  • Company will appeal ruling, is ‘confident’ it acted lawfully
In this photo illustration the FleetCor Technologies logo
Photographer: Rafael Henrique/SOPA/LightRocket/Getty Images

FleetCor Technologies Inc. Chief Executive Officer Ron Clarke successfully pitched small businesses on “a better way to pay” for gas, making himself a billionaire in the process.

But that success was built in part on falsely advertised rebates, concealed transactions fees and a host of other unfair practices -- and Clarke knew it, a federal judge in Atlanta ruled this week in a case brought by the Federal Trade Commission.