Market Manipulation. Search

Market manipulation case library

This library records 2,428 market manipulation enforcement actions brought by financial regulators, each with the agency, the date, the alleged technique, the monetary relief ordered and a link to the regulator's own filing. The whole dataset is downloadable as JSON.

Actions
2,428
Total penalties
$14.3bn
Median penalty
$200k
Agencies
5
Techniques
47

Browse by facet

Every facet below is a real page with its own URL, so it works without JavaScript and can be linked, bookmarked and cited.

By technique

Insider trading 725 Ponzi schemes 602 Unregistered distributions 158 Paid stock promotion 129 Price manipulation 125 Pump and dump 125 Spoofing 118 Wash trading 107 Rule 105 offering shorts 84 Boiler rooms 78 Undisclosed control blocks 59 Reverse merger schemes 59 The naked short selling debate 55 Benchmark submission rigging 49 Matched orders 36 Churning 25 Layering 21 Free riding and parking 18 Marking the close 15 Fake press releases 15 Mismarking 15 Front running 14 Newsletter scalping 14 Cash versus derivatives schemes 13 Hack to trade 13 Sham tender offers 13 Chat group pumps 11 FX fixing 11 Social media ramps 10 EDGAR filing fraud 10 Paid crypto market making 8 Custodianship shell hijacking 6 False rumours 5 Shell factories 5 Hijacked-account ramping 4 Settlement price manipulation 4 Banging the close 3 Short and distort 3 Marking the open 2 Engineered short squeeze 2 Rug pulls 1 Insider listing trading 1 Oracle manipulation 1 Exchange wash trading 1 Float locking 1 Dilution death spirals 1 Options expiry pinning 1

By agency

ASIC 112 CFTC 344 FCA 47 OSC 69 SEC 1856

By year filed

2026 89 2025 114 2024 189 2023 208 2022 176 2021 154 2020 186 2019 192 2018 239 2017 218 2016 198 2015 217 2014 136 2013 102 2012 1 2011 4 2009 1 2007 1 2005 1 2004 2

Ranked lists: largest penalties · largest spoofing penalties · longest sentences · most-charged individuals · biggest crypto cases · most active courts

All actions, newest first

Action Agency Filed Technique Penalty Status
SEC v. Richard M. Kirsch and Adam Terris (insider trading, 2020) SEC 2020-09-10 Insider Trading $1.1m settled
FCA v. Conor Martin Foley (price manipulation, 2020) FCA 2020-09-07 Price Manipulation — filed
SEC v. Covalent Collective, Inc. (unregistered distributions, 2020) SEC 2020-09-03 Unregistered Distributions — settled
SEC v. Peter DiChiara (reverse merger schemes, 2020) SEC 2020-09-03 Reverse Merger Schemes $40k judgment
SEC v. Phillip W. Conley (ponzi schemes, 2020) SEC 2020-09-03 Ponzi Schemes — filed
SEC v. Steven Fitzgerald Brown (ponzi schemes, 2020) SEC 2020-09-03 Ponzi Schemes — settled
SEC v. Yue Li (insider trading, 2020) SEC 2020-09-03 Insider Trading $43.2k settled
FCA v. Julian Rifat Individual (insider trading, 2020) FCA 2020-09-01 Insider Trading — unknown
Corporate finance director pleads guilty to conspiring to manipulate market (ASIC, 2020) ASIC 2020-08-28 Price Manipulation — unknown
CFTC v. Multiple Individuals and Entities (ponzi schemes, 2020) CFTC 2020-08-28 Ponzi Schemes — filed
SEC v. Sepehr Sarshar (insider trading, 2020) SEC 2020-08-25 Insider Trading — filed
CFTC v. The Bank of Nova Scotia (spoofing, 2020) CFTC 2020-08-19 Spoofing $17m judgment
CFTC v. The Bank of Nova Scotia (spoofing, 2020) CFTC 2020-08-19 Spoofing $50m judgment
SEC v. Dale Tenhulzen et al. (ponzi schemes, 2020) SEC 2020-08-13 Ponzi Schemes — settled
SEC v. Sean R. Stewart et al. (insider trading, 2020) SEC 2020-08-13 Insider Trading — judgment
SEC v. Vu Anh Nguyen, et al. (free riding and parking, 2020) SEC 2020-08-11 Free Riding And Parking — settled
SEC v. Nicholas Mejia Scrivener (layering, 2020) SEC 2020-08-10 Layering , Spoofing $50k settled
OSC v. Donald Bruce Wilson and others (ponzi schemes, 2020) OSC 2020-08-10 Ponzi Schemes — unknown
SEC v. Jack Brewer (insider trading, 2020) SEC 2020-08-06 Insider Trading — filed
OSC v. Dino Paolucci (paid stock promotion, 2020) OSC 2020-08-05 Paid Stock Promotion , Pump And Dump — unknown
Former financial adviser sentenced to six years’ imprisonment for dishonest conduct (ASIC, 2020) ASIC 2020-08-04 Ponzi Schemes — unknown
CFTC v. NYMEX (insider trading, 2020) CFTC 2020-08-04 Insider Trading $4m settled
SEC v. Victor Lee Farias and Integrity Aviation & Leasing, LLC (ponzi schemes, 2020) SEC 2020-08-04 Ponzi Schemes — filed
SEC v. Mustafa David Sayid (pump and dump, 2020) SEC 2020-07-29 Pump And Dump $160k judgment
SEC v. Celadon Financial Group LLC (naked short selling debate, 2020) SEC 2020-07-27 Naked Short Selling Debate $125k settled
SEC v. Harold L. Altvater (insider trading, 2020) SEC 2020-07-24 Insider Trading — judgment
SEC v. IRTH Communications, LLC and Andrew Haag (paid stock promotion, 2020) SEC 2020-07-22 Paid Stock Promotion $35k settled
SEC v. Edmond Leung (insider trading, 2020) SEC 2020-07-21 Insider Trading $69.6k settled
SEC v. Joseph Zhang (insider trading, 2020) SEC 2020-07-21 Insider Trading $66.7k settled
OSC v. Coinsquare Ltd. and others (wash trading, 2020) OSC 2020-07-17 Wash Trading — unknown
SEC v. Abetterfinancialplan.Com, LLC (unregistered distributions, 2020) SEC 2020-07-14 Unregistered Distributions $8.7k settled
CFTC v. California and Colorado Residents (ponzi schemes, 2020) CFTC 2020-07-08 Ponzi Schemes — filed
CFTC v. Illinois Resident and Broker (wash trading, 2020) CFTC 2020-07-06 Wash Trading $250k judgment
SEC v. Michelle Dipp (reverse merger schemes, 2020) SEC 2020-06-30 Reverse Merger Schemes — settled
SEC v. BNP Paribas Securities Corp. (naked short selling debate, 2020) SEC 2020-06-29 Naked Short Selling Debate $250k settled
SEC v. Dandan Wu (insider trading, 2020) SEC 2020-06-29 Insider Trading $41.9k settled
FCA v. Redcentric PLC (price manipulation, 2020) FCA 2020-06-26 Price Manipulation — unknown
SEC v. Todd Lahr and Thomas Megas (ponzi schemes, 2020) SEC 2020-06-24 Ponzi Schemes — judgment
ASIC v. Avrohom Kimelman (insider trading, 2020) ASIC 2020-06-23 Insider Trading — filed
CFTC v. Deutsche Bank Securities Inc. (spoofing, 2020) CFTC 2020-06-18 Spoofing $9m settled
SEC v. Gomes et al. (unregistered distributions, 2020) SEC 2020-06-18 Unregistered Distributions — filed
SEC v. Neil Burkholz, et al. (ponzi schemes, 2020) SEC 2020-06-15 Ponzi Schemes — judgment
Former CFO charged with market manipulation and fraud offences (ASIC, 2020) ASIC 2020-06-11 Price Manipulation — filed
CFTC v. Unregistered Commodity Pool Operator and Its Chief Executive Officer (ponzi schemes, 2020) CFTC 2020-06-11 Ponzi Schemes — filed
SEC v. Jason C. Nielsen (pump and dump, 2020) SEC 2020-06-10 Pump And Dump , Spoofing — filed
SEC v. Dubovoy et al.: settlements with eight defendants (hack to trade, 2020) SEC 2020-06-10 Hack To Trade — judgment
SEC v. Daniel F. Putnam, Jean Paul Ramirez Rico, Angel A. Rodriguez, MMT Distribution, LLC, R & D Global (ponzi schemes, 2020) SEC 2020-06-05 Ponzi Schemes — unknown
SEC v. Jana Faith Kiena, CPA (insider trading, 2020) SEC 2020-06-05 Insider Trading $125k settled
Former CEO and director of Sirtex Medical Limited sentenced for insider trading (ASIC, 2020) ASIC 2020-06-04 Insider Trading — filed
CFTC v. Kentucky Man (ponzi schemes, 2020) CFTC 2020-06-02 Ponzi Schemes — filed
SEC v. BitClave PTE Ltd. (unregistered distributions, 2020) SEC 2020-05-28 Unregistered Distributions $400k settled
SEC v. Ares Management LLC (insider trading, 2020) SEC 2020-05-26 Insider Trading $1m settled
SEC v. Paul Ewer (boiler rooms, 2020) SEC 2020-05-22 Boiler Rooms — unknown
SEC v. Robert Gilbert (boiler rooms, 2020) SEC 2020-05-22 Boiler Rooms — judgment
CFTC v. Danish Man (ponzi schemes, 2020) CFTC 2020-05-18 Ponzi Schemes — filed
SEC v. Turbo Global Partners, Inc. and Robert W. Singerman (boiler rooms, 2020) SEC 2020-05-14 Boiler Rooms — filed
SEC v. Clinton Maurice Tucker II (boiler rooms, 2020) SEC 2020-05-11 Boiler Rooms — filed
CFTC v. Trader and His Firm (matched orders, 2020) CFTC 2020-05-07 Matched Orders , Wash Trading $150k judgment
SEC v. Damon Elliott, et al. (ponzi schemes, 2020) SEC 2020-05-06 Ponzi Schemes — filed
SEC v. Zhuobin Hong, et al. (insider trading, 2020) SEC 2020-05-05 Insider Trading — filed
SEC v. American Bondholders Foundation, LLC and Jonna Bianco (unregistered distributions, 2020) SEC 2020-04-30 Unregistered Distributions $65k settled
SEC v. Wei Duan (insider trading, 2020) SEC 2020-04-30 Insider Trading — settled
SEC v. Semper Capital Management, L.P. (mismarking, 2020) SEC 2020-04-28 Mismarking $375k settled
SEC v. Aequitas Management, LLC, et al. (ponzi schemes, 2020) SEC 2020-04-24 Ponzi Schemes $625k judgment
SEC v. Biltmore International Corporation (naked short selling debate, 2020) SEC 2020-04-24 Naked Short Selling Debate , Unregistered Distributions $125k settled
SEC v. Barry R. Bekkedam (ponzi schemes, 2020) SEC 2020-04-22 Ponzi Schemes — unknown
SEC v. Amir Waldman, et al. (insider trading, 2020) SEC 2020-04-17 Insider Trading — judgment
SEC v. Ieremenko et al.: settlements with Kwon and Sabodakha (hack to trade, 2020) SEC 2020-04-09 Hack To Trade , Insider Trading $149k settled
SEC v. Bryan Cohen and George Nikas (insider trading, 2020) SEC 2020-03-30 Insider Trading — judgment
SEC v. Benjamin Kirkland (insider trading, 2020) SEC 2020-03-27 Insider Trading $23.1k settled
SEC v. David M. Mahan (insider trading, 2020) SEC 2020-03-26 Insider Trading — judgment
SEC v. Kendricks, et al., Hamed A. Ettu (insider trading, 2020) SEC 2020-03-23 Insider Trading — judgment
SEC v. Scott O. Hirsch and Kenneth L. Friedman (insider trading, 2020) SEC 2020-03-19 Insider Trading — settled
SEC v. Denis Georgiyevich Sotnikov, et al. (spoofing, 2020) SEC 2020-03-16 Spoofing — filed
SEC v. Stacey Beane, Justin Deckert and Travis Laska (ponzi schemes, 2020) SEC 2020-03-13 Ponzi Schemes $30k judgment
SEC v. BMA Securities, LLC (naked short selling debate, 2020) SEC 2020-03-12 Naked Short Selling Debate — settled
SEC v. Barry Honig, et al. (pump and dump, 2020) SEC 2020-03-11 Pump And Dump — judgment
SEC v. PTG Capital Partners, Ltd. (sham tender offers, 2020) SEC 2020-03-11 EDGAR Filing Fraud , Sham Tender Offers $1.5m judgment
SEC v. Todays Growth Consultant Inc. and Kenneth D. Courtright, III (ponzi schemes, 2020) SEC 2020-03-06 Ponzi Schemes — filed
SEC v. Tomer Feingold and Dov Malnik (insider trading, 2020) SEC 2020-03-06 Insider Trading — filed
SEC v. Brook Church-Koegel, et al. (ponzi schemes, 2020) SEC 2020-03-05 Ponzi Schemes — filed
SEC v. Bradley Davis (insider trading, 2020) SEC 2020-02-28 Insider Trading — unknown
SEC v. Shawn Severson (paid stock promotion, 2020) SEC 2020-02-28 Paid Stock Promotion $3.5k settled
SEC v. Steven Seagal (paid stock promotion, 2020) SEC 2020-02-27 Paid Stock Promotion $157k settled
Former investment analyst pleads guilty to insider trading in securities of Big Un Limited (ASIC, 2020) ASIC 2020-02-25 Insider Trading — filed
SEC v. Charles F. Kerwin (insider trading, 2020) SEC 2020-02-24 Insider Trading $47.4k settled
SEC v. Kit Mun Chan, Lau Kean Chong, Chong Poui Fan, Binji Lu, and Youn Chien Wong (matched orders, 2020) SEC 2020-02-21 Matched Orders — judgment
CFTC v. Investment Firm and VP (ponzi schemes, 2020) CFTC 2020-02-20 Ponzi Schemes — filed
SEC v. Jon L. Aronson and Elliet N. Aronson (insider trading, 2020) SEC 2020-02-20 Insider Trading — judgment
SEC v. Richard Lee, et al. (insider trading, 2020) SEC 2020-02-20 Insider Trading — judgment
SEC v. EquiAlt LLC et al. (ponzi schemes, 2020) SEC 2020-02-18 Ponzi Schemes — filed
CFTC v. Colorado Resident (ponzi schemes, 2020) CFTC 2020-02-14 Ponzi Schemes — filed
SEC v. Charlie Jinan Chen and Shui Foon Mok (insider trading, 2020) SEC 2020-02-05 Insider Trading — unknown
SEC v. Cannell Capital, LLC (insider trading, 2020) SEC 2020-02-04 Insider Trading $150k settled
OSC v. Matthew John Hamilton (undisclosed control blocks, 2020) OSC 2020-01-31 Undisclosed Control Blocks — dismissed
SEC v. Bill Tsai (insider trading, 2020) SEC 2020-01-31 Insider Trading — judgment
SEC v. DFRF Enterprises LLC, et al. (ponzi schemes, 2020) SEC 2020-01-31 Ponzi Schemes — judgment
SEC v. Michael Douglas Billings and MDB Group, LLC (ponzi schemes, 2020) SEC 2020-01-31 Ponzi Schemes — settled
SEC v. Edward E. Matthes (ponzi schemes, 2020) SEC 2020-01-28 Ponzi Schemes — judgment
SEC v. David Aubel and Robert Raffa (paid stock promotion, 2020) SEC 2020-01-27 Paid Stock Promotion $150k judgment