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. TherapeuticsMD, Inc. (insider trading, 2019) SEC 2019-08-20 Insider Trading $200k settled
SEC v. Bill Tsai (insider trading, 2019) SEC 2019-08-16 Insider Trading — filed
SEC v. Jehu Hand, et al. (pump and dump, 2019) SEC 2019-08-16 Pump And Dump — judgment
SEC v. Samuel Brown, et al. (paid stock promotion, 2019) SEC 2019-08-16 Paid Stock Promotion — judgment
SEC v. Lorenz Erne (insider trading, 2019) SEC 2019-08-15 Insider Trading $79.6k settled
SEC v. Thomas W. Avent, Jr., et al. (insider trading, 2019) SEC 2019-08-15 Insider Trading — settled
CFTC v. International Enterprise (boiler rooms, 2019) CFTC 2019-08-12 Boiler Rooms — unknown
SEC v. Mark E. Burns (price manipulation, 2019) SEC 2019-08-12 EDGAR Filing Fraud , Price Manipulation +1 $60k judgment
SEC v. Tanmaya Kabra et al. (ponzi schemes, 2019) SEC 2019-08-08 Ponzi Schemes — unknown
SEC v. Imran Husain, et al. (shell factories, 2019) SEC 2019-08-06 Shell Factories — judgment
CFTC v. Trader (spoofing, 2019) CFTC 2019-07-31 Spoofing $150k judgment
SEC v. James W. Holden (insider trading, 2019) SEC 2019-07-31 Insider Trading $18.5k settled
SEC v. Beaufort Secs. Ltd. and Kyriacou. (pump and dump, 2019) SEC 2019-07-29 Pump And Dump — judgment
SEC v. Christopher Plaford (insider trading, 2019) SEC 2019-07-29 Insider Trading , Mismarking — judgment
CFTC v. Corey D. Flaum (price manipulation, 2019) CFTC 2019-07-25 Price Manipulation , Spoofing — unknown
SEC v. Balaji Sundarraj and David O'brien (insider trading, 2019) SEC 2019-07-23 Insider Trading $35k settled
SEC v. Carol J. Wayland, et al. (boiler rooms, 2019) SEC 2019-07-19 Boiler Rooms , Unregistered Distributions — judgment
SEC v. Garrett M. O'Rourke and Michael J. Black (pump and dump, 2019) SEC 2019-07-19 Pump And Dump — unknown
SEC v. Jun Ying (insider trading, 2019) SEC 2019-07-18 Insider Trading — judgment
SEC v. Mark Loman (insider trading, 2019) SEC 2019-07-18 Insider Trading — unknown
SEC v. William J. Milles, Jr. and Donald J. Lutzko (ponzi schemes, 2019) SEC 2019-07-18 Ponzi Schemes — filed
CFTC v. Former Hedge Fund Portfolio Manager (mismarking, 2019) CFTC 2019-07-18 Mismarking $100k judgment
SEC v. Zev Saltsman, et al. (unregistered distributions, 2019) SEC 2019-07-17 Unregistered Distributions — judgment
SEC v. Henry J. Wieniewitz, III, et al. (ponzi schemes, 2019) SEC 2019-07-15 Ponzi Schemes — settled
Former CEO and director of Sirtex Medical Limited pleads guilty to insider trading (ASIC, 2019) ASIC 2019-07-03 Insider Trading — filed
SEC v. GT Media, Inc. (unregistered distributions, 2019) SEC 2019-07-01 Unregistered Distributions $173k settled
SEC v. Tory J. R. Schalkle (insider trading, 2019) SEC 2019-07-01 Insider Trading $12.2k settled
CFTC v. Commodity Trading Firm (wash trading, 2019) CFTC 2019-06-28 Wash Trading $350k judgment
SEC v. Talman Harris (boiler rooms, 2019) SEC 2019-06-28 Boiler Rooms , Pump And Dump — judgment
CFTC v. unnamed respondents (ponzi schemes, 2019) CFTC 2019-06-27 Ponzi Schemes $1.2m judgment
SEC v. Amrit J. S. Chahal (ponzi schemes, 2019) SEC 2019-06-27 Ponzi Schemes — judgment
SEC v. Henry Sargent et al. (undisclosed control blocks, 2019) SEC 2019-06-27 Undisclosed Control Blocks — filed
SEC v. Matthew A. Krimm, et al. (ponzi schemes, 2019) SEC 2019-06-27 Ponzi Schemes — judgment
SEC v. Rajeshwar R. Gannamaneni, Deepthi Gandra, and Linga R. Gannamaneni (insider trading, 2019) SEC 2019-06-27 Insider Trading — settled
ASIC v. Steven Oakes (insider trading, 2019) ASIC 2019-06-25 Insider Trading — unknown
CFTC v. Merrill Lynch Commodities (price manipulation, 2019) CFTC 2019-06-25 Price Manipulation , Spoofing $11.5m judgment
SEC v. Avi Chiat (ponzi schemes, 2019) SEC 2019-06-24 Ponzi Schemes — judgment
SEC v. Landon M. Smith (ponzi schemes, 2019) SEC 2019-06-24 Ponzi Schemes — filed
SEC v. Andrew J. Kandelapas (marking the close, 2019) SEC 2019-06-21 Marking The Close — judgment
SEC v. Edward Lee Moody, Jr. (ponzi schemes, 2019) SEC 2019-06-21 Ponzi Schemes — judgment
SEC v. Kit Mun Chan, Lau Kean Chong, Chong Poui Fan, Binji Lu, and Youn Chien Wong (matched orders, 2019) SEC 2019-06-21 Matched Orders — filed
CFTC v. Company and its Principal (ponzi schemes, 2019) CFTC 2019-06-18 Ponzi Schemes — filed
SEC v. Raymond Starker (insider trading, 2019) SEC 2019-06-18 Insider Trading $46.3k judgment
SEC v. Wedbush Securities, Inc. (naked short selling debate, 2019) SEC 2019-06-18 Naked Short Selling Debate $2.4m settled
SEC v. Industrial and Commercial Bank of China Financial Services LLC (naked short selling debate, 2019) SEC 2019-06-14 Naked Short Selling Debate $14.4m settled
SEC v. Roland M. Mathys (insider trading, 2019) SEC 2019-06-13 Insider Trading — unknown
SEC v. Christopher Salis, et al. (insider trading, 2019) SEC 2019-06-12 Insider Trading — dismissed
SEC v. Steven Fishoff, et al. (insider trading, 2019) SEC 2019-06-11 Insider Trading $750k judgment
SEC v. Einstein Investments LLC (pump and dump, 2019) SEC 2019-06-05 Pump And Dump — unknown
SEC v. Longfin Corp. and Venkata S. Meenavalli, Longfin et. al (unregistered distributions, 2019) SEC 2019-06-05 Unregistered Distributions $2.9m settled
SEC v. James E. Hocker (ponzi schemes, 2019) SEC 2019-06-04 Ponzi Schemes — judgment
SEC v. Syed Arham Arbab, Artis Proficio Capital Investments, LLC, and Artis Proficio Capital Management, LLC (ponzi schemes, 2019) SEC 2019-06-03 Ponzi Schemes — unknown
SEC v. Craig H. Carton, et al. (ponzi schemes, 2019) SEC 2019-05-31 Ponzi Schemes — judgment
FCA v. Terry John Farr (benchmark submission rigging, 2019) FCA 2019-05-29 Benchmark Submission Rigging , Wash Trading — judgment
SEC v. David A. Altom and Gabriel V. Graven (insider trading, 2019) SEC 2019-05-29 Insider Trading — settled
SEC v. Robert C. Morgan (ponzi schemes, 2019) SEC 2019-05-23 Ponzi Schemes — unknown
SEC v. Howard M. Appel (float locking, 2019) SEC 2019-05-22 Float Locking — judgment
SEC v. Robert S. Davis, Jr., et al. (ponzi schemes, 2019) SEC 2019-05-22 Ponzi Schemes — filed
SEC v. Jonathan H. Seigel, et al. (ponzi schemes, 2019) SEC 2019-05-21 Ponzi Schemes , Unregistered Distributions — filed
SEC v. Mark "Christian" Ramsey (insider trading, 2019) SEC 2019-05-21 Insider Trading — filed
SEC v. David N. Osegueda, Ishmail Calvin Ross, aka Calvin Ross, Zachary R. Logan, and Jessica Snyder, fka Jessica Gutierrez (pump and dump, 2019) SEC 2019-05-20 Pump And Dump — filed
SEC v. Andrew I. Farmer, Scott R. Sieck, Eddie D. Austin, Jr., Carolyn P. Austin, and John D. Brotherton (pump and dump, 2019) SEC 2019-05-17 Pump And Dump — judgment
SEC v. Wilson-Davis & Co., Inc. (paid stock promotion, 2019) SEC 2019-05-15 Paid Stock Promotion , Pump And Dump +1 $300k settled
SEC v. Brian Fettner, et al. (insider trading, 2019) SEC 2019-05-14 Insider Trading — judgment
SEC v. Robert M. Morano (insider trading, 2019) SEC 2019-05-13 Insider Trading — judgment
CFTC v. CEO of Managed Fund (ponzi schemes, 2019) CFTC 2019-05-10 Ponzi Schemes — filed
SEC v. Lloyd Schuman and Dane Janes (Corrected Version) (insider trading, 2019) SEC 2019-05-09 Insider Trading — settled
CFTC v. Former Natural Gas Head Trader (mismarking, 2019) CFTC 2019-05-09 Mismarking — filed
SEC v. Rocco Roveccio (churning, 2019) SEC 2019-05-06 Churning — judgment
SEC v. One or More Unknown Traders in the Securities of Anadarko Petroleum Corp. (insider trading, 2019) SEC 2019-04-29 Insider Trading — judgment
SEC v. Christopher D. Dougherty, et al. (ponzi schemes, 2019) SEC 2019-04-26 Ponzi Schemes — filed
CFTC v. Forex Trading Firms and Principals (ponzi schemes, 2019) CFTC 2019-04-22 Ponzi Schemes — filed
SEC v. David M. Loflin (pump and dump, 2019) SEC 2019-04-22 Pump And Dump — settled
SEC v. Anthony C. Zufelt (ponzi schemes, 2019) SEC 2019-04-22 Ponzi Schemes , Unregistered Distributions — judgment
SEC v. Yuh-Yue Chen (insider trading, 2019) SEC 2019-04-18 Insider Trading — unknown
SEC v. Quentin Louis Wilcox (insider trading, 2019) SEC 2019-04-16 Insider Trading — judgment
SEC v. Ivan Acevedo & Dane R. Roseman (ponzi schemes, 2019) SEC 2019-04-12 Ponzi Schemes — filed
SEC v. Paul Bannon Powers (insider trading, 2019) SEC 2019-04-10 Insider Trading — settled
SEC v. Jeffrey Gainer (ponzi schemes, 2019) SEC 2019-04-10 Ponzi Schemes — judgment
SEC v. Scott Newsholme (ponzi schemes, 2019) SEC 2019-04-05 Ponzi Schemes — judgment
SEC v. Tai-Cheng Yang (insider trading, 2019) SEC 2019-04-05 Insider Trading $27.8k settled
SEC v. Evan R. Kita, et al. (insider trading, 2019) SEC 2019-04-04 Insider Trading — judgment
OSC v. Paramount Equity Financial Corporation and others (ponzi schemes, 2019) OSC 2019-03-29 Ponzi Schemes — dismissed
SEC v. Tiber Creek Corp. and James M. Cassidy (reverse merger schemes, 2019) SEC 2019-03-26 Reverse Merger Schemes $75k judgment
SEC v. Carol Ann Pedersen (ponzi schemes, 2019) SEC 2019-03-20 Ponzi Schemes — judgment
SEC v. Frank Morelli III and Louis Buonocore (pump and dump, 2019) SEC 2019-03-20 Pump And Dump — dismissed
SEC v. Kent R.E. Whitney, David Lee Parrish, The Church for the Healthy Self a/k/a CHS Trust, and CHS Asset Management Inc. (ponzi schemes, 2019) SEC 2019-03-18 Ponzi Schemes — unknown
SEC v. William Neil "Doc" Gallagher, Gallagher Financial Group, Inc., and W. Neil Gallagher, Ph.D. Agency, Inc. (ponzi schemes, 2019) SEC 2019-03-12 Ponzi Schemes — filed
CFTC v. Defendants (ponzi schemes, 2019) CFTC 2019-03-04 Ponzi Schemes $5.9m judgment
SEC v. Rong Chen, et al. (insider trading, 2019) SEC 2019-03-04 Insider Trading $167k judgment
SEC v. William C. Gennity (churning, 2019) SEC 2019-03-04 Churning — judgment
CFTC v. Krishna Mohan (spoofing, 2019) CFTC 2019-02-25 Spoofing — dismissed
SEC v. Walter C. Little and Andrew M. Berke (insider trading, 2019) SEC 2019-02-22 Insider Trading — judgment
SEC v. Demitrios Hallas (churning, 2019) SEC 2019-02-22 Churning — settled
SEC v. Joseph Frank Vacante (insider trading, 2019) SEC 2019-02-21 Insider Trading — judgment
SEC v. Gene Daniel Levoff (insider trading, 2019) SEC 2019-02-13 Insider Trading — unknown
SEC v. Jason McDiarmid, et al. (pump and dump, 2019) SEC 2019-02-12 Pump And Dump — judgment
Former mining executive sentenced to serve 9 months for insider trading (ASIC, 2019) ASIC 2019-02-11 Insider Trading — filed
SEC v. NL Technology, LLC et al. (ponzi schemes, 2019) SEC 2019-02-11 Ponzi Schemes — judgment
SEC v. Daniel J. Callahan (insider trading, 2019) SEC 2019-02-08 Insider Trading $19.4k settled