Market Manipulation. Search

Market manipulation case library

This library records 2,117 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
2,117
Total penalties
$15.4bn
Median penalty
$258k
Agencies
2
Techniques
36

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 608 Ponzi schemes 532 Paid stock promotion 219 Unregistered distributions 136 Pump and dump 121 Undisclosed control blocks 119 Spoofing 114 Wash trading 90 Price manipulation 72 Boiler rooms 71 Reverse merger schemes 66 The naked short selling debate 41 Benchmark submission rigging 32 Matched orders 24 Churning 19 Free riding and parking 18 Fake press releases 16 Layering 15 Newsletter scalping 15 Marking the close 10 Cash versus derivatives schemes 10 Front running 9 Shell factories 8 Chat group pumps 6 False rumours 5 Custodianship shell hijacking 5 Settlement price manipulation 4 Exchange wash trading 3 Banging the close 3 FX fixing 3 Engineered short squeeze 2 Marking the open 1 Rug pulls 1 Insider listing trading 1 Oracle manipulation 1 Float locking 1

By agency

CFTC 349 SEC 1768

By year filed

2026 85 2025 103 2024 182 2023 202 2022 174 2021 142 2020 178 2019 181 2018 221 2017 210 2016 179 2015 205 2014 27 2013 28

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
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 — 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
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
CFTC v. Mizuho Bank (spoofing, 2018) CFTC 2018-09-21 Spoofing $250k judgment
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
SEC v. Rong Chen, et al. (insider trading, 2018) SEC 2018-09-14 Insider Trading — filed
SEC v. Barry C. Honig, et al. (pump and dump, 2018) SEC 2018-09-07 Pump And Dump — filed
SEC v. In Ovations Holdings, Inc. and Mark Goldberg (paid stock promotion, 2018) SEC 2018-09-06 Paid Stock Promotion — unknown
SEC v. Jeffrey Goldman and Christopher Eikenberry (ponzi schemes, 2018) SEC 2018-09-05 Ponzi Schemes — settled
SEC v. Amer Deeba (insider trading, 2018) SEC 2018-08-30 Insider Trading $581k judgment
SEC v. Kendricks, et al. (insider trading, 2018) SEC 2018-08-30 Insider Trading — filed
CFTC v. BNP Paribas (benchmark submission rigging, 2018) CFTC 2018-08-29 Benchmark Submission Rigging , Price Manipulation $90m judgment
SEC v. David Michael Naylor, CPA (undisclosed control blocks, 2018) SEC 2018-08-29 Undisclosed Control Blocks — judgment
SEC v. Delaney Equity Group LLC Delaney and others (reverse merger schemes, 2018) SEC 2018-08-29 Reverse Merger Schemes , Shell Factories +1 $20k settled
SEC v. Fishoff, et al. (insider trading, 2018) SEC 2018-08-23 Insider Trading — filed
SEC v. Gary S. Williky (insider trading, 2018) SEC 2018-08-23 Insider Trading $1.7m judgment
SEC v. Barry M. Kornfeld, et al., Lynette M. Robbins and Knowles Systems, Inc. (ponzi schemes, 2018) SEC 2018-08-22 Ponzi Schemes $100k settled
SEC v. James T. Lentz (insider trading, 2018) SEC 2018-08-22 Insider Trading — settled
SEC v. A. Catlin Cade, IV (insider trading, 2018) SEC 2018-08-21 Insider Trading — settled
SEC v. Ismail Lila (insider trading, 2018) SEC 2018-08-21 Insider Trading — settled
SEC v. Lubin and David (unregistered distributions, 2018) SEC 2018-08-21 Unregistered Distributions — judgment
SEC v. Citigroup Global Markets Inc. and Citigroup Inc. (undisclosed control blocks, 2018) SEC 2018-08-16 Undisclosed Control Blocks — settled
SEC v. Honglan Wang (insider trading, 2018) SEC 2018-08-16 Insider Trading — settled
SEC v. Lauren Zarsky, CPA (insider trading, 2018) SEC 2018-08-15 Insider Trading — judgment
SEC v. Tomahawk Exploration LLC and David Thompson Laurance (reverse merger schemes, 2018) SEC 2018-08-14 Reverse Merger Schemes $30k settled
SEC v. Alexander Charles White and Paul Douglas Vandivier (unregistered distributions, 2018) SEC 2018-08-13 Unregistered Distributions — unknown
SEC v. Chad Anthony Lewis (unregistered distributions, 2018) SEC 2018-08-13 Unregistered Distributions — settled
SEC v. Christopher Collins, et al., Lauren Zarksy, Dorothy Zarsky (insider trading, 2018) SEC 2018-08-10 Insider Trading — judgment
SEC v. John C. Maccoll (ponzi schemes, 2018) SEC 2018-08-09 Ponzi Schemes — filed
SEC v. Arthur Lamar Adams and Madison Timber Properties, LLC (ponzi schemes, 2018) SEC 2018-08-08 Ponzi Schemes — filed
SEC v. Daniel M. Fitzpatrick, CPA (undisclosed control blocks, 2018) SEC 2018-08-08 Undisclosed Control Blocks — judgment
SEC v. Kevin M. Modany, CPA (undisclosed control blocks, 2018) SEC 2018-08-08 Undisclosed Control Blocks — judgment
SEC v. Salvadore D. Palermo (wash trading, 2018) SEC 2018-08-08 Wash Trading — filed
SEC v. Aaron R. Smith (insider trading, 2018) SEC 2018-08-07 Insider Trading — settled
SEC v. Murakami, et al. (ponzi schemes, 2018) SEC 2018-08-06 Ponzi Schemes — judgment
SEC v. Fei Yan, et al. (insider trading, 2018) SEC 2018-08-03 Insider Trading — judgment
SEC v. Kurt J. Bordian, CPA (insider trading, 2018) SEC 2018-08-03 Insider Trading — judgment
SEC v. Lozuk (insider trading, 2018) SEC 2018-08-01 Insider Trading — judgment
SEC v. Madan (insider trading, 2018) SEC 2018-08-01 Insider Trading $14k judgment
SEC v. Fred Tinker (insider trading, 2018) SEC 2018-07-31 Insider Trading — settled
SEC v. Howard M. Appel (matched orders, 2018) SEC 2018-07-30 Matched Orders — settled
SEC v. Robert Gadimian (insider trading, 2018) SEC 2018-07-26 Insider Trading — judgment
SEC v. Rudden, et al. (ponzi schemes, 2018) SEC 2018-07-26 Ponzi Schemes — unknown
SEC v. Richard T. Cunniffe (insider trading, 2018) SEC 2018-07-25 Insider Trading — judgment
SEC v. Matthew Brunstrum and Susan Brunstrum (insider trading, 2018) SEC 2018-07-24 Insider Trading — settled
SEC v. Yao Li (insider trading, 2018) SEC 2018-07-24 Insider Trading — settled
SEC v. Mizuho Securities USA LLC (front running, 2018) SEC 2018-07-23 Front Running , Insider Trading +1 — settled
SEC v. Sycamore Lane Partners LLC (naked short selling debate, 2018) SEC 2018-07-23 Naked Short Selling Debate $25k settled
SEC v. Deutsche Bank Trust Company Americas (naked short selling debate, 2018) SEC 2018-07-20 Naked Short Selling Debate — settled
SEC v. Jay C. Lake, CPA (shell factories, 2018) SEC 2018-07-17 Shell Factories — settled
SEC v. Mark E. Burns, Robert W. Murray (price manipulation, 2018) SEC 2018-07-17 Price Manipulation — settled
SEC v. Gannon Giguiere et al. (paid stock promotion, 2018) SEC 2018-07-16 Paid Stock Promotion , Pump And Dump — filed
CFTC v. Commodity Trading Firm (price manipulation, 2018) CFTC 2018-07-12 Price Manipulation $3.4m judgment
SEC v. Pawel P. Dynkowski, et al. (pump and dump, 2018) SEC 2018-07-12 Pump And Dump — judgment
SEC v. Ryan Gilbertson, et al. (reverse merger schemes, 2018) SEC 2018-07-12 Reverse Merger Schemes — unknown
SEC v. Gene Shen (insider trading, 2018) SEC 2018-07-10 Insider Trading — settled
SEC v. Matthew C. Woodard (undisclosed control blocks, 2018) SEC 2018-07-10 Unregistered Distributions — judgment
SEC v. Roger S. Zullo (undisclosed control blocks, 2018) SEC 2018-07-06 Undisclosed Control Blocks — judgment
SEC v. Molina (insider trading, 2018) SEC 2018-07-05 Insider Trading $39.2k judgment
SEC v. Edward Lee Moody Jr., et. al. (ponzi schemes, 2018) SEC 2018-07-03 Ponzi Schemes — filed
SEC v. Sudhakar Reddy Bonthu (insider trading, 2018) SEC 2018-07-02 Insider Trading — filed
SEC v. Alexander Capital, L.P. (churning, 2018) SEC 2018-06-29 Churning — settled
SEC v. Bayes Capital, LLC (naked short selling debate, 2018) SEC 2018-06-28 Naked Short Selling Debate — settled
SEC v. James VanBlaricum, et al. (ponzi schemes, 2018) SEC 2018-06-26 Ponzi Schemes — settled
SEC v. Richard Weed et al. (paid stock promotion, 2018) SEC 2018-06-26 Paid Stock Promotion , Reverse Merger Schemes $150k dismissed
SEC v. James E. Hocker (ponzi schemes, 2018) SEC 2018-06-21 Ponzi Schemes — filed
SEC v. Joseph A. Fiore, Berkshire Capital Management Company, Inc., and Eat at Joe's, Ltd. (n/k/a SPYR, Inc.) (newsletter scalping, 2018) SEC 2018-06-20 Newsletter Scalping — filed
SEC v. Santillo, et al. (ponzi schemes, 2018) SEC 2018-06-20 Ponzi Schemes — unknown
CFTC v. JPMorgan Chase Bank (benchmark submission rigging, 2018) CFTC 2018-06-18 Benchmark Submission Rigging , Price Manipulation $65m judgment
SEC v. Robert M. Morano (insider trading, 2018) SEC 2018-06-11 Insider Trading — judgment
SEC v. Jehu Hand, et al. (pump and dump, 2018) SEC 2018-06-06 Pump And Dump — unknown
SEC v. Ralph T. Iannelli et al. (ponzi schemes, 2018) SEC 2018-06-06 Ponzi Schemes — filed
CFTC v. Société Générale S.A. (benchmark submission rigging, 2018) CFTC 2018-06-04 Benchmark Submission Rigging , Price Manipulation $475m judgment
SEC v. Kon and Alexander (paid stock promotion, 2018) SEC 2018-05-29 Paid Stock Promotion $20k settled
SEC v. Adam S. Tracy, Esq. (undisclosed control blocks, 2018) SEC 2018-05-23 Undisclosed Control Blocks — judgment
SEC v. Todd David Alpert (insider trading, 2018) SEC 2018-05-18 Insider Trading — judgment
SEC v. Manhattan Transfer Registrar Company and John C. Ahearn (reverse merger schemes, 2018) SEC 2018-05-17 Reverse Merger Schemes , Undisclosed Control Blocks — settled
SEC v. Chardan Capital Markets, LLC (undisclosed control blocks, 2018) SEC 2018-05-16 Unregistered Distributions $1m settled