Federal court orders Texas man, firm to pay $13 million for commodities fraud

A federal court ordered a Texas man and a firm he ran to pay over $13 million for a commodities fraud scheme, the Commodity Futures Trading Commission (CFTC) announced on November 3, 2026. The U.S. District Court for the Northern District of Texas entered the default judgment against Walter Dunning Larrick III and Cambridge Financial Advisors LLC after they did not participate in the litigation, the CFTC said . Because it is a default judgment, the court’s findings were accepted without a contested trial, and no statement from the defendants appears in the release.