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. Spark Trading Group, LLC and Niket Shah (ponzi schemes, 2019) SEC 2019-02-08 Ponzi Schemes — judgment
CFTC v. Andre Flotron (spoofing, 2019) CFTC 2019-02-07 Spoofing $100k judgment
SEC v. Andrew Stitt (boiler rooms, 2019) SEC 2019-02-06 Boiler Rooms , Unregistered Distributions — judgment
SEC v. Edward Withrow, et al. (paid stock promotion, 2019) SEC 2019-02-05 Paid Stock Promotion — filed
SEC v. Joseph Vitale (boiler rooms, 2019) SEC 2019-02-04 Boiler Rooms — judgment
SEC v. Anthony J. Thompson, Jr., et al. (paid stock promotion, 2019) SEC 2019-02-01 Paid Stock Promotion , Pump And Dump — settled
CFTC v. Proprietary Trader (spoofing, 2019) CFTC 2019-01-31 Spoofing $120k judgment
SEC v. Oleksandr Ieremenko et al. (hack to trade, 2019) SEC 2019-01-15 Hack To Trade — filed
SEC v. ADT Inc. (insider trading, 2018) SEC 2018-12-26 Insider Trading $100k settled
SEC v. Cherubim Interests, Inc., PDX Partners, Inc., Victura Construction Group, Inc., and Patrick Jevon Johnson (pump and dump, 2018) SEC 2018-12-26 Pump And Dump — unknown
SEC v. BioElectronics Corp. IBEX, LLC St. John's, LLC Whelan and others (unregistered distributions, 2018) SEC 2018-12-21 Unregistered Distributions $650k judgment
SEC v. Natural Blue Resources, Inc. Cohen and others (reverse merger schemes, 2018) SEC 2018-12-21 Reverse Merger Schemes $75k judgment
SEC v. Tod A. Ditommaso, Esq. (unregistered distributions, 2018) SEC 2018-12-21 Unregistered Distributions — settled
SEC v. Wealthfront Advisers, LLC and and Wealthfront, Inc. (wash trading, 2018) SEC 2018-12-21 Wash Trading $250k settled
SEC v. Joe Lawler (ponzi schemes, 2018) SEC 2018-12-21 Ponzi Schemes $150k judgment
SEC v. Bryan Lee Addington (ponzi schemes, 2018) SEC 2018-12-20 Ponzi Schemes — judgment
SEC v. Robert S. "Lute" Davis, Jr., et al., Jordan E. Goodman., Alan H. New, et al. (ponzi schemes, 2018) SEC 2018-12-19 Ponzi Schemes $100k settled
SEC v. Andrew F. Nicoletta (rule 105 offering shorts, 2018) SEC 2018-12-19 Rule 105 Offering Shorts $371k settled
CFTC v. Chicago-area Trader (ponzi schemes, 2018) CFTC 2018-12-17 Ponzi Schemes — settled
CFTC v. Gaylen Rust (ponzi schemes, 2018) CFTC 2018-12-17 Ponzi Schemes — filed
SEC v. Peter Cho (insider trading, 2018) SEC 2018-12-17 Insider Trading — judgment
SEC v. The Bank of New York Mellon (naked short selling debate, 2018) SEC 2018-12-17 Naked Short Selling Debate $20.6m settled
SEC v. Lai Guanglin (Alan) (marking the close, 2018) SEC 2018-12-10 Marking The Close , Price Manipulation $400k settled
SEC v. Rajeshwar R. Gannamaneni, Deepthi Gandra, and Linga R. Gannamaneni (insider trading, 2018) SEC 2018-12-10 Insider Trading — unknown
SEC v. CoinAlpha Advisors LLC (unregistered distributions, 2018) SEC 2018-12-07 Unregistered Distributions $50k settled
SEC v. NVC Fund LLC and Frank Ekejija (pump and dump, 2018) SEC 2018-12-07 Pump And Dump — unknown
SEC v. David G. Dreslin, et al. (reverse merger schemes, 2018) SEC 2018-12-03 Reverse Merger Schemes $25k settled
SEC v. Fifth Street Management, LLC (insider trading, 2018) SEC 2018-12-03 Insider Trading $1.7m settled
SEC v. Eric T. Landis et al. (matched orders, 2018) SEC 2018-11-29 Matched Orders , Paid Stock Promotion — filed
SEC v. Floyd Mayweather Jr. (paid stock promotion, 2018) SEC 2018-11-29 Paid Stock Promotion $300k settled
SEC v. Khaled Khaled (paid stock promotion, 2018) SEC 2018-11-29 Paid Stock Promotion $100k settled
SEC v. Morrie Tobin et al. (paid stock promotion, 2018) SEC 2018-11-28 Paid Stock Promotion — filed
OSC v. Christopher Candusso and others (insider trading, 2018) OSC 2018-11-23 Insider Trading — judgment
CFTC v. Defendants Gaylen Dean Rust (ponzi schemes, 2018) CFTC 2018-11-16 Ponzi Schemes — filed
CFTC v. unnamed respondents (insider trading, 2018) CFTC 2018-11-15 Insider Trading , Spoofing — unknown
SEC v. Mark Burnett, Jeffrey Miller, Christian Romandetti, Frank Sarro, Anthony Vassallo, and Elite Stock Research, Inc. (boiler rooms, 2018) SEC 2018-11-15 Boiler Rooms — filed
SEC v. James V. Mazzo, et al. (insider trading, 2018) SEC 2018-11-14 Insider Trading $1.5m judgment
Court orders penalties and other relief against Westpac for BBSW conduct (ASIC, 2018) ASIC 2018-11-09 Price Manipulation $3.3m unknown
SEC v. Arthur Lamar Adams et al. (ponzi schemes, 2018) SEC 2018-11-09 Ponzi Schemes — settled
SEC v. Joseph Meli, et al. (ponzi schemes, 2018) SEC 2018-11-09 Ponzi Schemes — settled
SEC v. Kevin B. Merrill, et al. (ponzi schemes, 2018) SEC 2018-11-09 Ponzi Schemes — filed
SEC v. Pyxus International, Inc. (wash trading, 2018) SEC 2018-11-09 Wash Trading — settled
SEC v. Craig H. Carton, et al. (ponzi schemes, 2018) SEC 2018-11-08 Ponzi Schemes — filed
SEC v. James E. Hengen (insider trading, 2018) SEC 2018-11-08 Insider Trading — judgment
SEC v. Michael E. Cone, et al (boiler rooms, 2018) SEC 2018-11-08 Boiler Rooms — filed
SEC v. SeeThruEquity, LLC et al. (newsletter scalping, 2018) SEC 2018-11-08 Newsletter Scalping , Paid Stock Promotion — filed
SEC v. Slobodan Dragojlovic (insider trading, 2018) SEC 2018-11-08 Insider Trading — judgment
CFTC v. Former Deutsche Bank Trader (mismarking, 2018) CFTC 2018-11-08 Mismarking $350k judgment
SEC v. Citibank, N.A. (naked short selling debate, 2018) SEC 2018-11-07 Naked Short Selling Debate $13.6m settled
SEC v. Brian Weber and Bebida Beverage Co. (fake press releases, 2018) SEC 2018-10-31 Fake Press Releases — judgment
FCA v. Jonathan Mathew Individual (benchmark submission rigging, 2018) FCA 2018-10-30 Benchmark Submission Rigging , Insider Trading — filed
SEC v. Philip Thomas Kueber (undisclosed control blocks, 2018) SEC 2018-10-26 Undisclosed Control Blocks — judgment
OSC v. Keir Reynolds (insider trading, 2018) OSC 2018-10-25 Insider Trading — settled
SEC v. John Madsen, Andalusian Resorts and others (fake press releases, 2018) SEC 2018-10-23 Fake Press Releases , Pump And Dump +1 — judgment
SEC v. Mark E. Fisher and Joseph F. Capuozzo (paid stock promotion, 2018) SEC 2018-10-22 Paid Stock Promotion , Pump And Dump — settled
SEC v. Zachary S. Berkey (churning, 2018) SEC 2018-10-19 Churning — judgment
CFTC v. GBI (ponzi schemes, 2018) CFTC 2018-10-18 Ponzi Schemes $2.5m judgment
SEC v. Richard J. Greenlaw et al. (unregistered distributions, 2018) SEC 2018-10-18 Unregistered Distributions — judgment
OSC v. K2 & Associates Investment Management Inc. and others (spoofing, 2018) OSC 2018-10-17 Spoofing — unknown
SEC v. Bryan B. Long (insider trading, 2018) SEC 2018-10-16 Insider Trading — filed
CFTC v. Kamaldeep Gandhi (spoofing, 2018) CFTC 2018-10-12 Spoofing — judgment
SEC v. Harold L. Altvater (insider trading, 2018) SEC 2018-10-11 Insider Trading — filed
SEC v. Merrill, et al. (ponzi schemes, 2018) SEC 2018-10-11 Ponzi Schemes — filed
SEC v. Dennis Wayne Hamilton (insider trading, 2018) SEC 2018-10-10 Insider Trading — judgment
SEC v. Jeffre James and others (pump and dump, 2018) SEC 2018-10-09 Pump And Dump — unknown
SEC v. Robert O. Carr and Katherine M. Hanratty (insider trading, 2018) SEC 2018-10-05 Insider Trading — judgment
SEC v. Todd Elliott Hitt, Kiddar Capital LLC, Kiddar Group Holdings, Inc., as Defendants, and Kiddar AQ LLC a/k/a Kiddar Aquicore LLC, as Relief Defendants (ponzi schemes, 2018) SEC 2018-10-05 Ponzi Schemes — settled
CFTC v. Owner of Precious Metals Firm (ponzi schemes, 2018) CFTC 2018-10-03 Ponzi Schemes — filed
CFTC v. the Bank of Nova Scotia (spoofing, 2018) CFTC 2018-10-01 Spoofing $800k judgment
CFTC v. unnamed respondents (insider trading, 2018) CFTC 2018-09-28 Insider Trading — filed
CFTC v. Block Trade Broker (front running, 2018) CFTC 2018-09-28 Front Running , Insider Trading — filed
SEC v. Bryan R. Ziegenfuse (insider trading, 2018) SEC 2018-09-28 Insider Trading — judgment
SEC v. COR Clearing, LLC (unregistered distributions, 2018) SEC 2018-09-28 Unregistered Distributions $800k settled
SEC v. Edward J. Kosinski (insider trading, 2018) SEC 2018-09-28 Insider Trading — filed
SEC v. Jehu Hand and Antonio Katz (paid stock promotion, 2018) SEC 2018-09-28 Paid Stock Promotion , Pump And Dump — judgment
SEC v. NL Technology, LLC et al. (ponzi schemes, 2018) SEC 2018-09-28 Ponzi Schemes $480k judgment
SEC v. Nutra Pharma Corp. et al (unregistered distributions, 2018) SEC 2018-09-28 Unregistered Distributions — filed
SEC v. Thomas Carter Ronk (boiler rooms, 2018) SEC 2018-09-28 Boiler Rooms , Paid Stock Promotion — filed
SEC v. Unal Patel and Amish Patel (insider trading, 2018) SEC 2018-09-28 Insider Trading $14.6k settled
CFTC v. Davis Ramsey (price manipulation, 2018) CFTC 2018-09-27 Price Manipulation $325k judgment
CFTC v. Eleven Individuals and Five Entities (wash trading, 2018) CFTC 2018-09-27 Wash Trading — unknown
CFTC v. Futures Trader (price manipulation, 2018) CFTC 2018-09-27 Price Manipulation $325k judgment
SEC v. unnamed respondents (ponzi schemes, 2018) SEC 2018-09-27 Ponzi Schemes — settled
SEC v. Thomas Earl Hayden (insider trading, 2018) SEC 2018-09-27 Insider Trading $198k settled
Former CEO and director of Sirtex Medical Limited charged with insider trading (ASIC, 2018) ASIC 2018-09-26 Insider Trading — filed
CFTC v. Adam Flavin (price manipulation, 2018) CFTC 2018-09-26 Price Manipulation $1.3m judgment
CFTC v. Two Commodity Traders (price manipulation, 2018) CFTC 2018-09-26 Price Manipulation $125k judgment
OSC v. Daniel P. Reeve (ponzi schemes, 2018) OSC 2018-09-26 Ponzi Schemes — filed
CFTC v. Mizuho Bank (spoofing, 2018) CFTC 2018-09-21 Spoofing $250k judgment
OSC v. LeadFX Inc. and Michael Pearson (dilution death spirals, 2018) OSC 2018-09-21 Dilution Death Spirals — dismissed
CFTC v. Geneva Trading USA (spoofing, 2018) CFTC 2018-09-20 Spoofing $1.5m judgment
SEC v. CSIR Group, LLC, et al. (paid stock promotion, 2018) SEC 2018-09-20 Paid Stock Promotion — judgment
CFTC v. Bank of America (benchmark submission rigging, 2018) CFTC 2018-09-19 Benchmark Submission Rigging , Price Manipulation $30m judgment
CFTC v. Futures Trader and Trading Firm (cash vs derivatives schemes, 2018) CFTC 2018-09-19 Cash Vs Derivatives Schemes , Spoofing $1.8m judgment
SEC v. Michael L. LaPenna (naked short selling debate, 2018) SEC 2018-09-19 Naked Short Selling Debate $22.5k settled
CFTC v. ICAP Capital Markets LLC (benchmark submission rigging, 2018) CFTC 2018-09-18 Benchmark Submission Rigging , Price Manipulation $50m judgment
SEC v. Ernest J. Romer, III (ponzi schemes, 2018) SEC 2018-09-18 Ponzi Schemes — filed
SEC v. John Paul Waymack (insider trading, 2018) SEC 2018-09-18 Insider Trading — unknown
FCA v. Christian Bittar (benchmark submission rigging, 2018) FCA 2018-09-14 Benchmark Submission Rigging — dismissed
SEC v. Rong Chen, et al. (insider trading, 2018) SEC 2018-09-14 Insider Trading — filed