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. Joel P. Zingerman (insider trading, 2017) SEC 2017-09-21 Insider Trading $56.6k settled
SEC v. Justin Samuel Cary (insider trading, 2017) SEC 2017-09-21 Insider Trading — filed
SEC v. Peter C. Chang (insider trading, 2017) SEC 2017-09-20 Insider Trading — filed
Sydney man faces charges for market manipulation (ASIC, 2017) ASIC 2017-09-19 Price Manipulation — unknown
SEC v. Francisco Illarramendi, et al. (ponzi schemes, 2017) SEC 2017-09-19 Ponzi Schemes — judgment
SEC v. Lawrence F. Cluff, Jr., Roger E. Shaoul, and James Shaoul (insider trading, 2017) SEC 2017-09-13 Insider Trading — judgment
SEC v. Mayank Gupta, et al. (insider trading, 2017) SEC 2017-09-13 Insider Trading $23.8k settled
SEC v. Brett Kennedy, et al. (insider trading, 2017) SEC 2017-09-07 Insider Trading — settled
SEC v. Craig H. Carton, et al. (ponzi schemes, 2017) SEC 2017-09-06 Ponzi Schemes — filed
SEC v. Scott Newsholme (ponzi schemes, 2017) SEC 2017-09-06 Ponzi Schemes — filed
SEC v. Alan M. Stark, Esq. (insider trading, 2017) SEC 2017-09-05 Insider Trading $7.6k settled
SEC v. Richard P. Cedrone, Steven R. Ferris and George R. Thoreson (marking the close, 2017) SEC 2017-09-05 Marking The Close $75k judgment
SEC v. Evan R. Kita, et al. (insider trading, 2017) SEC 2017-08-31 Insider Trading — filed
SEC v. Tennstar Energy, Inc., et al. (boiler rooms, 2017) SEC 2017-08-30 Boiler Rooms — filed
OSC v. Khalid Walid Jawhari (insider trading, 2017) OSC 2017-08-30 Insider Trading — unknown
SEC v. Lek Securities Corp. et al. (layering, 2017) SEC 2017-08-29 Layering , Undisclosed Control Blocks — unknown
Day trader pleads guilty to market manipulation (ASIC, 2017) ASIC 2017-08-28 Price Manipulation — unknown
SEC v. Dawn J. Bennett and DJB Holdings LLC (ponzi schemes, 2017) SEC 2017-08-28 Ponzi Schemes — filed
CFTC v. South Carolina Resident Thomas Lanzana (ponzi schemes, 2017) CFTC 2017-08-25 Ponzi Schemes — filed
SEC v. Caledonian Bank Ltd., et al. (unregistered distributions, 2017) SEC 2017-08-25 Unregistered Distributions $19.2m judgment
SEC v. Jack Sini (boiler rooms, 2017) SEC 2017-08-23 Boiler Rooms — filed
SEC v. Jason Hershberger (boiler rooms, 2017) SEC 2017-08-23 Boiler Rooms — filed
SEC v. Juan M. Perez Ortega (boiler rooms, 2017) SEC 2017-08-23 Boiler Rooms — filed
SEC v. Martin Miller (boiler rooms, 2017) SEC 2017-08-23 Boiler Rooms — filed
SEC v. Shawna Leigh Lynch (boiler rooms, 2017) SEC 2017-08-23 Boiler Rooms — unknown
SEC v. Deerfield Management Company, L.P. (insider trading, 2017) SEC 2017-08-21 Insider Trading $3.9m settled
SEC v. Banca IMI Securities Corp. (naked short selling debate, 2017) SEC 2017-08-18 Naked Short Selling Debate $15m settled
CFTC v. Aruba-based Copersucar Trading A.V.V. (wash trading, 2017) CFTC 2017-08-16 Wash Trading $300k judgment
SEC v. Daniel Rivas, et al. (insider trading, 2017) SEC 2017-08-16 Insider Trading — unknown
SEC v. Robert Cortez Marshall (ponzi schemes, 2017) SEC 2017-08-16 Ponzi Schemes — filed
SEC v. Damon Hovannisian, et al. (insider trading, 2017) SEC 2017-08-11 Insider Trading $156k judgment
SEC v. Louis Martin Blazer III (ponzi schemes, 2017) SEC 2017-08-10 Ponzi Schemes — judgment
CFTC v. The Bank (spoofing, 2017) CFTC 2017-08-08 Spoofing $600k judgment
SEC v. David Blaszczak, et al. (insider trading, 2017) SEC 2017-08-08 Insider Trading — settled
SEC v. Steven V. McClatchey and Gary J. Pusey (insider trading, 2017) SEC 2017-08-08 Insider Trading — judgment
SEC v. Joe Yiu Cheung ( and Dylon De Lu Zhang) (paid stock promotion, 2017) SEC 2017-08-02 Paid Stock Promotion , Pump And Dump +2 $150k settled
SEC v. Jeffrey D. Martin, et al. (custodianship shell hijacking, 2017) SEC 2017-08-01 Custodianship Shell Hijacking , Paid Stock Promotion +1 — judgment
SEC v. Karen F. Aalders (paid stock promotion, 2017) SEC 2017-07-31 Paid Stock Promotion — judgment
SEC v. Sterling Craig Barton (insider trading, 2017) SEC 2017-07-31 Insider Trading $100k judgment
SEC v. Harold L. Altvater (insider trading, 2017) SEC 2017-07-28 Insider Trading — unknown
SEC v. Windsor Street Capital, L.P. ( and others (unregistered distributions, 2017) SEC 2017-07-28 Unregistered Distributions $200k settled
CFTC v. New York Trader Simon Posen (spoofing, 2017) CFTC 2017-07-27 Spoofing $635k judgment
SEC v. Joey Stanton Dodson (ponzi schemes, 2017) SEC 2017-07-26 Ponzi Schemes — judgment
SEC v. Joey Giamichael and Umbrella Research, LLC (newsletter scalping, 2017) SEC 2017-07-25 Newsletter Scalping , Paid Stock Promotion — settled
SEC v. Andrew Farmer, et al. (pump and dump, 2017) SEC 2017-07-24 Pump And Dump — judgment
SEC v. Lubin and David (unregistered distributions, 2017) SEC 2017-07-19 Unregistered Distributions — judgment
SEC v. Troy Joseph Flowers, et al. (undisclosed control blocks, 2017) SEC 2017-07-19 Undisclosed Control Blocks — filed
SEC v. John F. Stimpson (insider trading, 2017) SEC 2017-07-18 Insider Trading $136k settled
SEC v. Ashley Antos, Defendants, and Antos, Inc. (boiler rooms, 2017) SEC 2017-07-12 Boiler Rooms — unknown
SEC v. Victory Ho (insider trading, 2017) SEC 2017-07-12 Insider Trading — judgment
SEC v. Wanger and Eric David Wanger Investment Management, Inc. (marking the close, 2017) SEC 2017-07-10 Marking The Close $75k dismissed
SEC v. Steve G. Blasko (boiler rooms, 2017) SEC 2017-07-07 Boiler Rooms , Unregistered Distributions — filed
SEC v. Cheryl L. Jones (ponzi schemes, 2017) SEC 2017-07-03 Ponzi Schemes — filed
CFTC v. unnamed respondents (spoofing, 2017) CFTC 2017-06-30 Spoofing $350k judgment
CFTC v. Rosenthal Collins Capital Markets LLC (wash trading, 2017) CFTC 2017-06-30 Wash Trading $5m judgment
SEC v. Sasan Sabrdaran and Farhang Afsarpour (insider trading, 2017) SEC 2017-06-30 Insider Trading — judgment
SEC v. Andrew S. Keck (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks — settled
SEC v. Christopher A. Conley (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks — settled
SEC v. Marilyn Stark (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks $10k settled
SEC v. Matthew L. Egna (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks $10k settled
SEC v. Nigel G. Lindsay (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks — settled
SEC v. Sarah E. Keck (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks — settled
SEC v. Diana P. Lovera (boiler rooms, 2017) SEC 2017-06-28 Boiler Rooms — judgment
SEC v. Harold L. Altvater, Maureen E. Curran, Susan L. Dubuc (insider trading, 2017) SEC 2017-06-27 Insider Trading — judgment
SEC v. Wm Smith & Co. and William S. Smith (insider trading, 2017) SEC 2017-06-26 Insider Trading $50k settled
SEC v. James M. Farinella, et al. (paid stock promotion, 2017) SEC 2017-06-21 Paid Stock Promotion — filed
SEC v. Yu-Cheng Lin (insider trading, 2017) SEC 2017-06-19 Insider Trading — judgment
ASIC v. UBS Securities (front running, 2017) ASIC 2017-06-15 Front Running — unknown
SEC v. Edwin Yoshihiro Fujinaga and MRI International, Inc., et al. (ponzi schemes, 2017) SEC 2017-06-15 Ponzi Schemes — appealed
SEC v. Jehu Hand and Antonio Katz (paid stock promotion, 2017) SEC 2017-06-15 Paid Stock Promotion , Pump And Dump — filed
SEC v. Tod A. Ditommaso, Esq. (unregistered distributions, 2017) SEC 2017-06-13 Unregistered Distributions — judgment
SEC v. Dan (“Alice”) Zhang, CPA (insider trading, 2017) SEC 2017-06-07 Insider Trading $7.5k settled
SEC v. Michael Trahan (insider trading, 2017) SEC 2017-06-07 Insider Trading — judgment
SEC v. Homero Joshua Garza, GAW Miners, LLC, and ZenMiner, LLC (ponzi schemes, 2017) SEC 2017-06-05 Ponzi Schemes — judgment
CFTC v. David Liew (price manipulation, 2017) CFTC 2017-06-03 Price Manipulation , Spoofing — judgment
SEC v. Adesh Kumar Tyagi (marking the close, 2017) SEC 2017-06-01 Marking The Close — unknown
SEC v. Harrison Katzen (boiler rooms, 2017) SEC 2017-05-31 Boiler Rooms — judgment
SEC v. Mark A. Jones (ponzi schemes, 2017) SEC 2017-05-25 Ponzi Schemes $160k judgment
SEC v. William J. Wells and Promitor Capital Management LLC (ponzi schemes, 2017) SEC 2017-05-25 Ponzi Schemes — settled
SEC v. Francisco Illarramendi, Highview Point Partners, LLC and others (ponzi schemes, 2017) SEC 2017-05-24 Ponzi Schemes $1m judgment
SEC v. Imran Husain, et al. (shell factories, 2017) SEC 2017-05-24 Shell Factories , Undisclosed Control Blocks — filed
SEC v. Murakami, et al. (ponzi schemes, 2017) SEC 2017-05-22 Ponzi Schemes — filed
SEC v. Robert W. Murray (price manipulation, 2017) SEC 2017-05-19 EDGAR Filing Fraud , Price Manipulation +1 — unknown
SEC v. Emerald Isle Exploration, Ltd. and Samuell Eads and Lloyd C. Brewer (insider trading, 2017) SEC 2017-05-12 Insider Trading , Undisclosed Control Blocks $10k settled
OSC v. Jorge Neher (insider trading, 2017) OSC 2017-05-12 Insider Trading — unknown
SEC v. Chamroonrat, et al. (ponzi schemes, 2017) SEC 2017-05-11 Ponzi Schemes — filed
SEC v. Walter C. Little and Andrew M. Berke (insider trading, 2017) SEC 2017-05-11 Insider Trading — filed
SEC v. Iat Hong, et al. (hack to trade, 2017) SEC 2017-05-09 Hack To Trade — filed
SEC v. Inc. Med-X (pump and dump, 2017) SEC 2017-05-08 Pump And Dump — dismissed
SEC v. Andrew T.E. Coldicutt, et al. (unregistered distributions, 2017) SEC 2017-05-05 Unregistered Distributions — unknown
SEC v. William R. Schantz III and Verto Capital Management LLC (ponzi schemes, 2017) SEC 2017-05-04 Ponzi Schemes — settled
OSC v. Dennis Wing (insider trading, 2017) OSC 2017-05-04 Insider Trading — dismissed
SEC v. David Michael Burke (undisclosed control blocks, 2017) SEC 2017-05-02 Unregistered Distributions $5k settled
SEC v. Mark J. Varacchi, et al. (ponzi schemes, 2017) SEC 2017-05-01 Ponzi Schemes — judgment
Former Perth managing director sentenced to 18 months' jail for insider trading (ASIC, 2017) ASIC 2017-04-28 Insider Trading — filed
SEC v. Demitrios Hallas (churning, 2017) SEC 2017-04-26 Churning — filed
SEC v. Wilson-Davis & Company, Inc. (naked short selling debate, 2017) SEC 2017-04-26 Naked Short Selling Debate $75k settled
SEC v. Kent P. Watts, et al. (unregistered distributions, 2017) SEC 2017-04-21 Unregistered Distributions — filed
SEC v. Curtis A. Peterson (ponzi schemes, 2017) SEC 2017-04-19 Ponzi Schemes $7.5k judgment
SEC v. Charles L. Hill, Jr. (insider trading, 2017) SEC 2017-04-18 Insider Trading — dismissed