June 24, 2022

Starberry Limited will pay over $1.3 million in a civil monetary penalty for acting as an unregistered futures commission merchant and will disgorge the same amount in unlawfully-earned commission and fees. Starberry accepted more than $400 million from a foreign customer, invested it in crude oil futures contracts through more than 12,500 NYMEX WTI trades, and earned over $86 million in profits for the investor. CFTC

Tagged in: Fraud in CFTC-Regulated Markets, Regulatory Violations,