CFTC Orders Georgia Resident Michael E. Simmons and His Company Global Consortiums, LLC to Pay Restitution and a Civil Monetary Penalty Totaling More than $589,000 for Engaging in Foreign Exchange Commodity Pool Fraud Fraud

CFTC release 7249-15 · 2015-09-29 · view on cftc.gov ↗

Key facts

Release number: 7249-15
Release date: 2015-09-29
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7249-15

About CFTC enforcement

The CFTC charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and commodity-pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension. Crypto-asset cases have been a major share since 2019.