# In CFTC Enforcement Action, Federal Court Orders Florida Resident Martin Sommers and His Company International Monetary Metals, Inc. to Pay over $9.8 Million for Engaging in Illegal, Off-Exchange Precious Metals Transactions and Registration Violations

> CFTC release 7425-16 · 2016-08-13 · **Registration / supervisory violation** · ENFORCEMENT

## Key facts

- **Release number:** 7425-16
- **Release date:** 2016-08-13
- **Type:** Registration / supervisory violation
- **Title:** In CFTC Enforcement Action, Federal Court Orders Florida Resident Martin Sommers and His Company International Monetary Metals, Inc. to Pay over $9.8 Million for Engaging in Illegal, Off-Exchange Precious Metals Transactions and Registration Violations
- **Primary source:** https://www.cftc.gov/PressRoom/PressReleases/7425-16

## 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 7425-16, "In CFTC Enforcement Action, Federal Court Orders Florida Resident Martin Sommers and His Company International Monetary Metals, Inc. to Pay over $9.8 Million for Engaging in Illegal, Off-Exchange Precious Metals Transactions and Registration Violations", 2016-08-13. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/cftc-action/7425-16.

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