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
CFTC v. Multiple Individuals and Entities (ponzi schemes, 2020) CFTC 2020-08-28 Ponzi Schemes — filed
SEC v. Sepehr Sarshar (insider trading, 2020) SEC 2020-08-25 Insider Trading $56.2k settled
CFTC v. The Bank of Nova Scotia (spoofing, 2020) CFTC 2020-08-19 Spoofing — judgment
CFTC v. The Bank of Nova Scotia (spoofing, 2020) CFTC 2020-08-19 Spoofing $109m judgment
SEC v. Dale Tenhulzen et al. (ponzi schemes, 2020) SEC 2020-08-13 Ponzi Schemes — settled
SEC v. Sean R. Stewart et al. (insider trading, 2020) SEC 2020-08-13 Insider Trading — judgment
SEC v. Vu Anh Nguyen, Adam Michael Reed and Anthony Xavier Moya (free riding and parking, 2020) SEC 2020-08-11 Free Riding And Parking — settled
OSC v. Donald Bruce Wilson and others (2020) OSC 2020-08-10 — judgment
SEC v. Nicholas Mejia Scrivener (layering, 2020) SEC 2020-08-10 Layering , Spoofing $50k settled
SEC v. Jack Brewer (insider trading, 2020) SEC 2020-08-06 Insider Trading — filed
OSC v. Dino Paolucci (pump and dump, 2020) OSC 2020-08-05 Pump And Dump — judgment
Former financial adviser sentenced to six years’ imprisonment for dishonest conduct (ASIC, 2020) ASIC 2020-08-04 Ponzi Schemes — judgment
CFTC v. NYMEX (2020) CFTC 2020-08-04 $4m settled
SEC v. Victor Lee Farias and Integrity Aviation & Leasing, LLC (ponzi schemes, 2020) SEC 2020-08-04 Ponzi Schemes — judgment
SEC v. Mustafa David Sayid and Norman Reynolds (pump and dump, 2020) SEC 2020-07-29 Pump And Dump $235k judgment
AMF France v. Electricité de France S.A., B and A (false or misleading information, 2020) AMF (France) 2020-07-28 False Rumors — judgment
SEC v. Celadon Financial Group LLC (naked short selling debate, 2020) SEC 2020-07-27 Naked Short Selling Debate $125k settled
SEC v. Harold L. Altvater (insider trading, 2020) SEC 2020-07-24 Insider Trading — judgment
SEC v. IRTH Communications, LLC and Andrew Haag (paid stock promotion, 2020) SEC 2020-07-22 Paid Stock Promotion $42.5k settled
SEC v. Edmond Leung (insider trading, 2020) SEC 2020-07-21 Insider Trading $69.6k settled
SEC v. Joseph Zhang (insider trading, 2020) SEC 2020-07-21 Insider Trading $66.7k settled
OSC v. Coinsquare Ltd. and others (exchange wash trading, 2020) OSC 2020-07-17 Exchange Wash Trading , Wash Trading — settled
SEC v. Abetterfinancialplan.Com, LLC (unregistered distributions, 2020) SEC 2020-07-14 Unregistered Distributions $8.7k settled
CFTC v. California and Colorado Residents (ponzi schemes, 2020) CFTC 2020-07-08 Ponzi Schemes — judgment
CFTC v. Mark Miller and Foremost Trading LLC (matched orders, 2020) CFTC 2020-07-06 Matched Orders $450k judgment
SEC v. Michelle Dipp (2020) SEC 2020-06-30 $75k settled
SEC v. BNP Paribas Securities Corp. (naked short selling debate, 2020) SEC 2020-06-29 Naked Short Selling Debate $250k settled
SEC v. Dandan Wu (insider trading, 2020) SEC 2020-06-29 Insider Trading $41.9k settled
FCA v. Redcentric PLC (2020) FCA 2020-06-26 — judgment
SEC v. Todd Lahr and Thomas Megas (ponzi schemes, 2020) SEC 2020-06-24 Ponzi Schemes — judgment
ASIC v. Avrohom Kimelman (insider trading, 2020) ASIC 2020-06-23 Insider Trading — judgment
CFTC v. Deutsche Bank Securities Inc. (spoofing, 2020) CFTC 2020-06-18 Spoofing $1.3m settled
SEC v. Gomes et al. (unregistered distributions, 2020) SEC 2020-06-18 Unregistered Distributions — judgment
SEC v. Neil Burkholz, et al. (ponzi schemes, 2020) SEC 2020-06-15 Ponzi Schemes — judgment
Former CFO charged with market manipulation and fraud offences (ASIC, 2020) ASIC 2020-06-11 Price Manipulation — judgment
CFTC v. Craig L. Clavin and Lighthouse Futures, Ltd. (2020) CFTC 2020-06-11 $25k settled
SEC v. Dubovoy et al.: settlements with eight defendants (hack to trade, 2020) SEC 2020-06-10 Hack To Trade — judgment
SEC v. Jason C. Nielsen (pump and dump, 2020) SEC 2020-06-10 Pump And Dump , Spoofing — settled
SEC v. Daniel F. Putnam, et al. (2020) SEC 2020-06-05 $7.2m judgment
SEC v. Jana Faith Kiena, CPA (insider trading, 2020) SEC 2020-06-05 Insider Trading $125k settled
Former CEO and director of Sirtex Medical Limited sentenced for insider trading (ASIC, 2020) ASIC 2020-06-04 Insider Trading — judgment
CFTC v. William S. Evans III (2020) CFTC 2020-06-02 — settled
SEC v. BitClave PTE Ltd. (unregistered distributions, 2020) SEC 2020-05-28 Unregistered Distributions $400k settled
SEC v. Ares Management LLC (2020) SEC 2020-05-26 $1m settled
SEC v. Paul Ewer (boiler rooms, 2020) SEC 2020-05-22 Boiler Rooms — settled
SEC v. Robert Gilbert (boiler rooms, 2020) SEC 2020-05-22 Boiler Rooms — judgment
CFTC v. Casper Mikkelsen (2020) CFTC 2020-05-18 $3.6m judgment
SEC v. Turbo Global Partners, Inc. and Robert W. Singerman (fake press releases, 2020) SEC 2020-05-14 Fake Press Releases — settled
SEC v. Clinton Maurice Tucker II (boiler rooms, 2020) SEC 2020-05-11 Boiler Rooms — judgment
CFTC v. Mehran Khorrami and Cayley Investment Management, LLC (wash trading, 2020) CFTC 2020-05-07 Wash Trading $150k judgment
SEC v. Damon Elliott, et al. (ponzi schemes, 2020) SEC 2020-05-06 Ponzi Schemes $5.4m judgment
SEC v. Zhuobin Hong, et al. (insider trading, 2020) SEC 2020-05-05 Insider Trading $2.3m settled
SEC v. American Bondholders Foundation, LLC and Jonna Bianco (unregistered distributions, 2020) SEC 2020-04-30 Unregistered Distributions $65k settled
SEC v. Wei Duan (insider trading, 2020) SEC 2020-04-30 Insider Trading $60k settled
SEC v. Semper Capital Management, L.P. (mismarking, 2020) SEC 2020-04-28 Mismarking $375k settled
SEC v. Aequitas Management, LLC, et al. (ponzi schemes, 2020) SEC 2020-04-24 Ponzi Schemes $925k judgment
SEC v. Biltmore International Corporation (naked short selling debate, 2020) SEC 2020-04-24 Naked Short Selling Debate $125k settled
SEC v. Barry R. Bekkedam (2020) SEC 2020-04-22 — settled
SEC v. Amir Waldman, et al. (insider trading, 2020) SEC 2020-04-17 Insider Trading $1.1m judgment
AMF France v. Sébastien Loux (insider trading, 2020) AMF (France) 2020-04-09 Insider Trading — settled
SEC v. Ieremenko et al.: settlements with Kwon and Sabodakha (hack to trade, 2020) SEC 2020-04-09 Hack To Trade $149k settled
SEC v. Bryan Cohen and George Nikas (insider trading, 2020) SEC 2020-03-30 Insider Trading — judgment
SEC v. Benjamin Kirkland (insider trading, 2020) SEC 2020-03-27 Insider Trading $23.1k settled
SEC v. David M. Mahan (insider trading, 2020) SEC 2020-03-26 Insider Trading $87.3k judgment
SEC v. Mychal Kendricks and Hamed A. Ettu (insider trading, 2020) SEC 2020-03-23 Insider Trading — judgment
SEC v. Scott O. Hirsch and Kenneth L. Friedman (insider trading, 2020) SEC 2020-03-19 Insider Trading $597k settled
SEC v. Denis Georgiyevich Sotnikov, et al. (fake certificate-of-deposit fraud, 2020) SEC 2020-03-16 $8.4m judgment
SEC v. Stacey Beane, Justin Deckert and Travis Laska (2020) SEC 2020-03-13 $30k judgment
SEC v. BMA Securities, LLC (naked short selling debate, 2020) SEC 2020-03-12 Naked Short Selling Debate $275k settled
SEC v. Barry Honig, et al. (pump and dump, 2020) SEC 2020-03-11 Pump And Dump — judgment
SEC v. PTG Capital Partners, Ltd. (sham tender offers, 2020) SEC 2020-03-11 EDGAR Filing Fraud , Sham Tender Offers $1.5m judgment
SEC v. Todays Growth Consultant Inc. and Kenneth D. Courtright, III (ponzi schemes, 2020) SEC 2020-03-06 Ponzi Schemes — filed
SEC v. Tomer Feingold and Dov Malnik (insider trading, 2020) SEC 2020-03-06 Insider Trading $3.8m settled
SEC v. Brook Church-Koegel, et al. (ponzi schemes, 2020) SEC 2020-03-05 Ponzi Schemes — settled
AMF France v. Forever Winner International Development Ltd, A and B (insider trading, 2020) AMF (France) 2020-02-28 Insider Trading — judgment
SEC v. Bradley Davis (insider trading, 2020) SEC 2020-02-28 Insider Trading $100k judgment
SEC v. Shawn Severson (paid stock promotion, 2020) SEC 2020-02-28 Paid Stock Promotion $3.5k settled
SEC v. Steven Seagal (paid stock promotion, 2020) SEC 2020-02-27 Paid Stock Promotion $157k settled
Former investment analyst pleads guilty to insider trading in securities of Big Un Limited (ASIC, 2020) ASIC 2020-02-25 Insider Trading — judgment
SEC v. Charles F. Kerwin (insider trading, 2020) SEC 2020-02-24 Insider Trading $47.4k settled
SEC v. Kit Mun Chan, Lau Kean Chong, Chong Poui Fan, Binji Lu, and Youn Chien Wong (matched orders, 2020) SEC 2020-02-21 Matched Orders $775k judgment
CFTC v. Winston Reed Investments LLC and Mark N. Pyatt (2020) CFTC 2020-02-20 — settled
SEC v. Jon L. Aronson and Elliet N. Aronson (insider trading, 2020) SEC 2020-02-20 Insider Trading $40.6k settled
SEC v. Richard Lee, et al. (insider trading, 2020) SEC 2020-02-20 Insider Trading — judgment
SEC v. EquiAlt LLC, et al. (2020) SEC 2020-02-18 $1.5m settled
CFTC v. Colorado Resident (ponzi schemes, 2020) CFTC 2020-02-14 Ponzi Schemes $450k judgment
SEC v. Charlie Jinan Chen and Shui Foon Mok (insider trading, 2020) SEC 2020-02-05 Insider Trading — judgment
SEC v. Cannell Capital, LLC (2020) SEC 2020-02-04 $150k settled
OSC v. Matthew John Hamilton (undisclosed control blocks, 2020) OSC 2020-01-31 Undisclosed Control Blocks — judgment
SEC v. Bill Tsai (insider trading, 2020) SEC 2020-01-31 Insider Trading — judgment
SEC v. DFRF Enterprises LLC, et al. (ponzi schemes, 2020) SEC 2020-01-31 Ponzi Schemes — judgment
SEC v. Michael Douglas Billings and MDB Group, LLC (ponzi schemes, 2020) SEC 2020-01-31 Ponzi Schemes — settled
SEC v. Edward E. Matthes (2020) SEC 2020-01-28 — settled
SEC v. David Aubel and Robert Raffa (pump and dump, 2020) SEC 2020-01-27 Pump And Dump , Undisclosed Control Blocks $150k judgment
SEC v. Jeffrey P. Carpoff and Paulette Carpoff (ponzi schemes, 2020) SEC 2020-01-24 Ponzi Schemes — filed
SEC v. Benjamin L. Bunker, Esq. (pump and dump, 2020) SEC 2020-01-23 Pump And Dump , Undisclosed Control Blocks +1 — settled
CFTC v. Propex Derivatives Pty Ltd (spoofing, 2020) CFTC 2020-01-21 Spoofing $462k judgment
SEC v. Guy Scott Griffithe, et al. (2020) SEC 2020-01-21 $3.3m judgment
SEC v. Drake et al., Messier et al., Brooks (boiler rooms, 2020) SEC 2020-01-16 Boiler Rooms — judgment
SEC v. Lidingo Holdings, LLC, et al. (paid stock promotion, 2020) SEC 2020-01-14 Paid Stock Promotion — judgment