The CFTC charged a commodity pool operator/commodity trading advisor and its founder and principal with engaging in a long-running cherry picking scheme. Simultaneously, it obtained an order imposing an asset freeze and expedited discovery. The agency claimed that, over nearly three years, the defendants repeatedly executed block futures trades that they closed out prior to the end of the trading day, allocating a disproportionate share of profitable trades to accounts in which they had an interest and a disproportionate share of losing, or less profitable, trades to customer accounts. They also allegedly made misrepresentations about their allocation practices and their funds’ investment focuses. This article details the CFTC’s allegations. See “CFTC Wins Seven‑Figure Verdict Against Introducing Broker and Associated Person Who Traded Against Customers” (Sep. 22, 2022); as well as our two-part review of CFTC activity: “Enforcement Actions” (Apr. 15, 2021); and “Regulatory Actions” (Apr. 29, 2021).