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Insight: As cotton surged, China trader amassed $510 million bet

 A little-known Shanghai firm called Sheenson Investments Ltd and its founder Weidong Ge, a former trader at China's vast state-owned agriculture trading company COFCO, have agreed to return $1 million in ill-gotten gains and pay a $500,000 civil penalty for exceeding federal limits on speculative bets in soybean oil and cotton futures, the Commodity Futures Trading Commission said on Tuesday. 

It is the agency's biggest-ever "disgorgement" agreement associated with position limits and among the biggest civil fines, according to a review of a dozen such enforcement measures since 1995. It is the first against a Chinese firm.

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