# 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

> CFTC release 7249-15 · 2015-09-29 · **Fraud** · ENFORCEMENT

## Key facts

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

## What this is

CFTC enforcement actions cover derivatives + commodities + crypto fraud cases. The Commission charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension.


## Citation

> US Commodity Futures Trading Commission, press release 7249-15, "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", 2015-09-29. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/cftc-action/7249-15.

---

*[CFTC actions dataset](/datasets/cftc-actions) · CC0 1.0*