CFTC v. Walter Dunning Larrick, III and Cambridge Financial Advisors, LLC (2023)

Alleged — pending

These are allegations. CFTC has filed an action; nothing in it has been proven, and the respondents have not been found liable. Everything described on this page is what the regulator alleges, not what a court has found. See our editorial policy.

Checked against the primary document on October 4, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In August 2023 the CFTC charged Walter Dunning Larrick, III and Cambridge Financial Advisors, LLC. The complaint alleges that Larrick and his firm pooled over $3.6 million from about 70 people for a purported commodity pool, sent most of it to offshore accounts and used the rest for personal expenses or Ponzi-like payments, hiding this with false statements.

The record

Structured fields for this action, as recorded in our case library.
Agency	CFTC
Release number	8768-23
Date filed	2023-08-23
Court	U.S. District Court, Northern District of Texas
Status	filed
Asset class	commodities, futures
Criminal parallel	No
Defendants	Walter Dunning Larrick, III (individual) ; Cambridge Financial Advisors, LLC (entity)
Techniques

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
Alleged gain: —

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Commodity Futures Trading Commission announced this matter on August 23, 2023 as release 8768-23. The complaint alleges that Larrick and his firm pooled over $3.6 million from about 70 people for a purported commodity pool, sent most of it to offshore accounts and used the rest for personal expenses or Ponzi-like payments, hiding this with false statements.

This library does not tag the matter as a Ponzi scheme: on a source check, the document mentions Ponzi-like payments only in passing, or as part of another party's scheme, and the charges are about something else. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

This matter is at the allegation stage. Nothing in the regulator's filing has been proven, and the respondents are entitled to the presumption that it has not been.

Checked on 2026-10-04: no outcome found on CFTC pages.

Timeline

2023-08-23 CFTC release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Record added September 10, 2026. If this matter has since resolved, been withdrawn or been dismissed, we want to know: submit a correction.