# CFTC Enforces $6M Options Fraud Penalties

The Commodity Futures Trading Commission (CFTC) secured a court order in 2026 against Michael Frederick Staryk, ordering him to pay over **$6 million** in restitution and civil penalties for options fraud. The order includes permanent bans on trading and registration for Staryk, concluding a 2024 enforcement action. Relief defendants, including Yvonne Stephanie Solerti-Coto and Global Financial Institution LLC, were also ordered to disgorge over $110,000 in ill-gotten gains. This enforcement action highlights the CFTC's ongoing efforts to uphold market integrity and deter fraudulent activities in commodity and options trading.

- **Why this matters:** Procurement professionals and contractors in financial services and compliance sectors should note the CFTC's rigorous enforcement stance, which may influence due diligence and risk management requirements in contracts involving trading platforms or financial instruments.
- The permanent trading and registration bans signal heightened regulatory scrutiny that could affect vendor eligibility and compliance obligations.
- Organizations providing financial technology, compliance solutions, or advisory services may find increased demand to support clients in meeting regulatory standards and avoiding enforcement risks.
- This case underscores the importance of transparency and ethical conduct in financial dealings, relevant for contractors engaged in government-regulated financial markets.

**Jurisdictions:** federal
**Industries:** Public Safety
**Topics:** Regulatory Compliance
**Published:** September 16, 2026

### Government Entities
- Commodity Futures Trading Commission (CFTC)
- U.S. District Court for the District of Connecticut
- U.S. Attorney’s Office for the Northern District of Texas
- FBI Dallas/Fort Worth Office (FBI)
- Superintendencia General de Valores de Costa Rica

### Vendors
- Magestic World Wide Finance (Business operated by defendant)
- Magestic WW Solutions (Alias of business operated by defendant)
- Magestic World Wide Solutions (Alias of business operated by defendant)
- Global Financial Institution LLC (Relief defendant)

### Sources
- [CFTC Secures Court Order Directing Florida Man to Pay Over $6 Million for Options Fraud and Imposing Trading Bans | CFTC](https://www.cftc.gov/PressRoom/PressReleases/9299-26) - CFTC