The U.S. Commodity Futures Trading Commission has filed a civil enforcement complaint in the U.S. District Court for the Southern District of Florida against International Monetary Metals (IMM) of Hollywood, Florida, and its president Martin Sommers of Cooper City, Florida.

The complaint claimed that, since at least July 16, 2011, to March 2013, IMM “solicited and accepted a total of at least $6 million from about 240 retail customers for precious metals transactions.” However the precious metals (including gold, silver and platinum) were never actually delivered to IMM’s customers, according to the CFTC.