Market Manipulation. Search

Market manipulation case library

This library records 3,272 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
3,272
Total penalties
$16.7bn
Median penalty
$250k
Agencies
7
Techniques
49

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 851 Ponzi schemes 474 Price manipulation 311 Misleading issuer disclosure 214 Matched orders 165 Unregistered distributions 157 Pump and dump 139 Spoofing 108 Wash trading 106 Undisclosed control blocks 93 Rule 105 offering shorts 85 Paid stock promotion 68 Boiler rooms 68 Front running 61 The naked short selling debate 35 Benchmark submission rigging 34 Marking the close 27 Social media ramps 26 Reverse merger schemes 25 Layering 24 Fake press releases 21 Free riding and parking 18 Mismarking 16 False rumours 15 Sham tender offers 15 Churning 14 Hack to trade 14 Newsletter scalping 13 EDGAR filing fraud 10 Shell factories 9 FX fixing 9 Paid crypto market making 8 Rigged binary options execution 8 Chat group pumps 7 Analyst manipulation 6 Settlement price manipulation 5 Hijacked-account ramping 4 Cornering 3 Short and distort 3 Cash versus derivatives schemes 3 Banging the close 3 Painting the tape 2 Engineered short squeeze 2 Exchange wash trading 2 Rug pulls 1 Insider listing trading 1 Oracle manipulation 1 Float locking 1 Momentum ignition 1

By agency

AMF-FR 209 ASIC 113 CFTC 334 FCA 48 OSC 68 SEBI 656 SEC 1844

By year filed

2026 137 2025 199 2024 266 2023 363 2022 492 2021 161 2020 192 2019 202 2018 245 2017 227 2016 202 2015 223 2014 145 2013 111 2012 8 2011 16 2010 14 2009 14 2008 17 2007 15 2006 9 2005 9 2004 5

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. Sang N. Phan and Rich N. Phan (free riding and parking, 2022) SEC 2022-09-26 Free Riding And Parking $50k judgment
SEBI v. Manoj Chhaganalal Rathod HUF (order placement and deletion, Global Infratech and Finance, 2022) SEBI (India) 2022-09-26 Spoofing — judgment
CFTC v. COFCO Corp. and Chinatex Corp., Ltd. (wash trading, 2022) CFTC 2022-09-23 Wash Trading $720k judgment
SEBI v. Harishkumar Kantilal Patel and others (synchronized trades, Global Infratech and Finance, 2022) SEBI (India) 2022-09-23 Matched Orders — judgment
SEC v. Brian Lam, NineSquare Capital Partners LLC and others (2022) SEC 2022-09-23 $3.2m judgment
SEBI v. SKR Supreme Electronics and Trading Private Limited and others (Secunderabad Healthcare warrants, dismissed on remand, 2022) SEBI (India) 2022-09-23 — dismissed
SEBI v. Rajesh Pavithran (K Sera Sera GDR issues, 2022) SEBI (India) 2022-09-23 Misleading Issuer Disclosure — judgment
SEBI v. Bhavin Pradyumna Pandya and Rakesh Natavarlal Bhatt (bulk SMS and website tips, Global Infratech and Finance, 2022) SEBI (India) 2022-09-23 False Rumors — judgment
SEBI v. Ficus Securities Pvt. Ltd. (broker registration cancelled for misuse of client assets, 2022) SEBI (India) 2022-09-23 — judgment
SEC v. James Arthur McDonald, Jr. and Hercules Investments, LLC (ponzi schemes, 2022) SEC 2022-09-22 Ponzi Schemes — judgment
SEC v. Michael Weiss (insider trading, 2022) SEC 2022-09-22 Insider Trading — settled
SEC v. Sheng Fu and Ming Xu (insider trading, 2022) SEC 2022-09-21 Insider Trading $757k settled
SEC v. John P. Mendes, et al. (insider trading, 2022) SEC 2022-09-20 Insider Trading $51.6k settled
SEBI v. Vitan Agro Industries Ltd. and Dinanath Shyamsundar (diversion of preferential issue proceeds, 2022) SEBI (India) 2022-09-20 Misleading Issuer Disclosure — judgment
SEC v. Sparkster, Ltd. and Sajjad Daya (unregistered distributions, 2022) SEC 2022-09-19 Unregistered Distributions $750k settled
SEC v. Waddell & Reed, LLC (2022) SEC 2022-09-19 $200k settled
SEBI v. Shiva Kumar Komaravelli and others (price manipulation, Abhishek Infraventures, 2022) SEBI (India) 2022-09-16 Price Manipulation — judgment
SEC v. Nutra Pharma Corp. et al (unregistered distributions, 2022) SEC 2022-09-16 Unregistered Distributions — judgment
SEC v. Gabriel Edelman, Creative Advancement LLC and Edelman Blockchain Advisors LLC (ponzi schemes, 2022) SEC 2022-09-15 Ponzi Schemes — judgment
SEBI v. Arth Udyog Limited and others (settlement, promoter holdings shown as public, 2022) SEBI (India) 2022-09-12 Misleading Issuer Disclosure — settled
SEBI v. Ashoka Marketing Limited and others (settlement, promoter holdings shown as public, 2022) SEBI (India) 2022-09-12 Misleading Issuer Disclosure — settled
SEBI v. Bharat Nidhi Limited and others (settlement, promoter holdings shown as public, 2022) SEBI (India) 2022-09-12 Misleading Issuer Disclosure — settled
CFTC v. Tae Hung Kang (ponzi schemes, 2022) CFTC 2022-09-08 Ponzi Schemes — judgment
SEC v. NPA Asset Management, LLC (2022) SEC 2022-09-08 $300k settled
SEC v. Todd Christopher Doucette (insider trading, 2022) SEC 2022-09-07 Insider Trading $349k settled
SEBI v. Rana Kapoor (YES Bank AT1 bonds mis-selling, 2022) SEBI (India) 2022-09-07 — judgment
SEBI v. Ashoka Viniyoga Limited and others (settlement, promoter holdings shown as public, 2022) SEBI (India) 2022-09-07 Misleading Issuer Disclosure — settled
SEBI v. Sahu Jain Limited and others (settlement, promoter holdings shown as public, 2022) SEBI (India) 2022-09-07 Misleading Issuer Disclosure — settled
SEBI v. Combine Holding Limited and others (settlement, promoter holdings shown as public, 2022) SEBI (India) 2022-09-07 Misleading Issuer Disclosure — settled
CFTC v. Natixis (mismarking, 2022) CFTC 2022-09-06 Mismarking $2.8m settled
SEBI v. Mayur Maheshkumar Panchal and others (order placement and cancellation, Ejecta Marketing, 2022) SEBI (India) 2022-09-06 Spoofing — judgment
SEBI v. JHP Securities Pvt Ltd (fictitious backdated trades, Global Telesystems, 2022) SEBI (India) 2022-09-05 — judgment
SEBI v. Bharat J. Patel (fictitious backdated trades, Global Telesystems, 2022) SEBI (India) 2022-09-05 — dismissed
SEBI v. Prashant J. Patel (fictitious backdated trades, Global Telesystems, 2022) SEBI (India) 2022-09-05 — judgment
CFTC v. Swapnil Rege and SwapStar Capital LLC (ponzi schemes, 2022) CFTC 2022-09-02 Ponzi Schemes $200k judgment
SEBI v. Ketan Pravinbahi Panchal and others (price manipulation, Thirani Projects, 2022) SEBI (India) 2022-08-30 Price Manipulation , Matched Orders — judgment
SEBI v. Soma Textiles & Industries Ltd and others (GDR issue, 2022) SEBI (India) 2022-08-30 Misleading Issuer Disclosure — judgment
SEBI v. Subodh Agarwal and others (price manipulation, Sulabh Engineers & Services, 2022) SEBI (India) 2022-08-30 Price Manipulation — judgment
SEC v. Pavel Ruiz (ponzi schemes, 2022) SEC 2022-08-30 Ponzi Schemes — settled
SEBI v. Jaidev Gupta HUF and others (Esaar India round-tripped preferential allotment, 2022) SEBI (India) 2022-08-30 — judgment
SEBI v. Nakoda Ltd and others (GDR issue and undisclosed pledge, 2022) SEBI (India) 2022-08-30 Misleading Issuer Disclosure — judgment
SEBI v. Triveni Enterprises Ltd and others (misuse of preferential-issue proceeds, 2022) SEBI (India) 2022-08-29 Misleading Issuer Disclosure — judgment
SEC v. Harmel S. Rayat, RenovaCare, Inc., Jatinder Bhogal, Jeetenderjit Singh Sidhu, and Sharon Fleming (newsletter scalping, 2022) SEC 2022-08-29 Newsletter Scalping $3m settled
SEBI v. Roshan Kumar Arun Mandal and Ajay Dhirajlal Nathwani (bulk SMS tips and circular trades, Mohit Industries, 2022) SEBI (India) 2022-08-25 False Rumors , Matched Orders — judgment
SEBI v. Ficus Securities Pvt. Ltd. and others (broker misuse of client funds and securities, 2022) SEBI (India) 2022-08-25 — judgment
SEBI v. Esaar India Limited (round-tripped preferential allotment, 2022) SEBI (India) 2022-08-25 — judgment
CFTC v. Eric Schwartz (spoofing, 2022) CFTC 2022-08-24 Spoofing $100k judgment
SEBI v. Arvind Remedies Ltd and others (inflated sales and promoter share sales, 2022) SEBI (India) 2022-08-24 Misleading Issuer Disclosure , Insider Trading — judgment
SEC v. Nicolas Arkells (unregistered distributions, 2022) SEC 2022-08-24 Unregistered Distributions — judgment
SEBI v. Sobha Limited and others (settlement, financial statement misrepresentation, 2022) SEBI (India) 2022-08-22 Misleading Issuer Disclosure — settled
SEC v. Lee Simmons (price manipulation, 2022) SEC 2022-08-19 EDGAR Filing Fraud , Price Manipulation +1 $223k judgment
SEBI v. Dhruv Agrawal and another (insider trading, Manpasand Beverages, 2022) SEBI (India) 2022-08-18 Insider Trading — judgment
SEBI v. MSS Trading System Centre and Valerian Louis Mendanha (unregistered portfolio management, assured returns, 2022) SEBI (India) 2022-08-18 — judgment
SEC v. Nicholas Daniel (insider trading, 2022) SEC 2022-08-17 Insider Trading $350k settled
SEC v. Sergei Polevikov (front running, 2022) SEC 2022-08-17 Front Running — judgment
SEC v. Ann M. Dishinger, Jerrold I. Palmer, and Lawrence M. Palmer (insider trading, 2022) SEC 2022-08-16 Insider Trading $162k settled
SEC v. Rahim Mohamed, Davies ("Dave") Wong, et al. (hijacked account ramping, 2022) SEC 2022-08-15 Hijacked Account Ramping — filed
SEC v. IMC Chicago, LLC (naked short selling debate, 2022) SEC 2022-08-12 Naked Short Selling Debate $125k settled
ASIC v. Don Evans (price manipulation, 2022) ASIC 2022-08-05 Price Manipulation — judgment
CFTC v. Daniel Shak (spoofing, 2022) CFTC 2022-08-05 Spoofing $750k settled
FCA v. Christopher Gent (insider trading, 2022) FCA 2022-08-05 Insider Trading — settled
SEBI v. India Capital Markets Pvt Ltd (broker facilitating client trades, Pyramid Saimira Theatre, 2022) SEBI (India) 2022-08-02 Matched Orders — judgment
SEBI v. Fenton Investments Pvt Ltd and Arvind Singhania (insider trading settlement, Varun Beverages, 2022) SEBI (India) 2022-08-01 Insider Trading — settled
SEC v. Vladimir Okhotnikov and others (ponzi schemes, 2022) SEC 2022-08-01 Ponzi Schemes — filed
SEBI v. Bakliwal Financial Services (India) Pvt Ltd and another (circular trades, Nahar Spinning and Tricom, 2022) SEBI (India) 2022-07-29 Matched Orders — judgment
SEBI v. Kaashyap Technologies Ltd and others (GDR issue disclosures, 2022) SEBI (India) 2022-07-29 Misleading Issuer Disclosure — judgment
SEBI v. Sandeep Tulsiram Agrawal and others (insider trading, Kushal Ltd, 2022) SEBI (India) 2022-07-29 Insider Trading — judgment
SEBI v. IIFL Securities Ltd (reference-price manipulation before a block deal, ICICI Lombard, 2022) SEBI (India) 2022-07-29 Price Manipulation — judgment
SEBI v. Raj Kumar Sharma and others (price manipulation, Global Infratech & Finance Ltd, 2022) SEBI (India) 2022-07-29 Price Manipulation — judgment
SEBI v. Aanchal Jindal and others (artificial-volume charges, Delta Leasing & Finance, 2022) SEBI (India) 2022-07-29 Matched Orders , Price Manipulation — dismissed
SEBI v. Nailesh Kumar Ganeshbhai Prajapati and others (circular trades after SMS tips, Ejecta Marketing, 2022) SEBI (India) 2022-07-29 Matched Orders — judgment
SEBI v. Roongta Rising Stock Pvt Ltd and others (price manipulation, Mishka Finance and Trading, 2022) SEBI (India) 2022-07-29 Price Manipulation — judgment
SEBI v. Prakash C Kanugo and others (insider trading, Prakash Steelage Ltd, 2022) SEBI (India) 2022-07-29 Insider Trading — judgment
SEBI v. Anita Shyam Mhatre and others (front running of Reliance Capital Mutual Fund, 2022) SEBI (India) 2022-07-29 Front Running — judgment
SEBI v. Austral Coke and Projects Ltd and others (IPO prospectus disclosure and trading, 2022) SEBI (India) 2022-07-29 Misleading Issuer Disclosure , Matched Orders — judgment
SEBI v. Anukaran Commercial Enterprise Limited and others (round-tripped preferential allotment, 2022) SEBI (India) 2022-07-29 — judgment
SEBI v. Goldline International Finvest Limited and others (IPO subscription funding, ECO Friendly Food Processing Park, 2022) SEBI (India) 2022-07-29 — judgment
SEBI v. Jolly Plastic Industries Ltd and others (funded preferential allotment, 2022) SEBI (India) 2022-07-29 — judgment
SEBI v. Zodiac Solutions (bulk SMS stock tips, Ejecta Marketing, 2022) SEBI (India) 2022-07-29 Chat Group Pumps — judgment
SEBI v. Allied Computers International (Asia) Limited and others (round-tripped preferential allotment, 2022) SEBI (India) 2022-07-29 — judgment
SEBI v. Jasmine Piyush Karia and Piyush Vasantbhai Karia (front running, Quest Investment Advisors trades, 2022) SEBI (India) 2022-07-28 Front Running — judgment
SEBI v. Kailash Kumar Lakhani and others (last-traded-price pushing, Surabhi Chemicals, 2022) SEBI (India) 2022-07-28 Price Manipulation — judgment
SEBI v. RHC Holding Pvt Ltd and others (Religare fund diversion and false accounts, 2022) SEBI (India) 2022-07-28 Misleading Issuer Disclosure — judgment
SEBI v. Finquest Securities Pvt Ltd (client synchronized trades, Garware Polyester, 2022) SEBI (India) 2022-07-28 Matched Orders — dismissed
SEBI v. Arvind Babulal Goyal and others (reversal trades, Kanchan International, 2022) SEBI (India) 2022-07-28 Matched Orders — judgment
SEBI v. Suresh Laxman Patil and others (reversal trades, Kanchan International, 2022) SEBI (India) 2022-07-28 Matched Orders — judgment
SEC v. Mark Klein, et al. (insider trading, 2022) SEC 2022-07-28 Insider Trading $226k settled
SEBI v. Hasti Finance Ltd. and others (funded preferential allotment, 2022) SEBI (India) 2022-07-28 — judgment
SEC v. Alexandra Robert, Chalala Academy LLC (ponzi schemes, 2022) SEC 2022-07-27 Ponzi Schemes $226k settled
SEBI v. Giriraj Kishore Agarwal and others (funded preferential allotment, Esaar India, 2022) SEBI (India) 2022-07-27 — judgment
SEC v. Amit Bhardwaj, et al. (insider trading, 2022) SEC 2022-07-26 Insider Trading — settled
SEC v. Seth Markin and Brandon Wong (insider trading, 2022) SEC 2022-07-26 Insider Trading $37k settled
SEC v. Todd Lahr and Thomas Megas (ponzi schemes, 2022) SEC 2022-07-26 Ponzi Schemes — judgment
SEBI v. Spank Management Services and Patanjali Govind Keswani (insider trading, Varun Beverages, 2022) SEBI (India) 2022-07-25 Insider Trading — settled
SEC v. Brijesh Goel and Akshay Niranjan (insider trading, 2022) SEC 2022-07-25 Insider Trading — settled
SEC v. Stephen E. Buyer, et al. (insider trading, 2022) SEC 2022-07-25 Insider Trading — dismissed
SEBI v. Sushma Agarwal (price manipulation, Winsome Yarns, 2022) SEBI (India) 2022-07-22 Price Manipulation — judgment
SEC v. Apostolos Trovias (2022) SEC 2022-07-21 — judgment
CFTC v. Jimmy Gale Watson (pump and dump, 2022) CFTC 2022-07-18 Pump And Dump $146k judgment
SEC v. Bruce Schoengood, Medifirst Solutions, Inc., and Joshua Tyrell (paid stock promotion, 2022) SEC 2022-07-18 Paid Stock Promotion $100k judgment