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. Mirae Asset Daewoo Co., Ltd. (spoofing, 2020) CFTC 2020-01-13 Spoofing $700k judgment
SEC v. Robert O. Carr and Katherine M. Hanratty (insider trading, 2020) SEC 2020-01-13 Insider Trading $251k judgment
CFTC v. US Coin Bullion LLC and its Owners (ponzi schemes, 2020) CFTC 2020-01-10 Ponzi Schemes — judgment
SEC v. Bajic et al., Ciapala et al. (unregistered distributions, 2020) SEC 2020-01-10 Unregistered Distributions — settled
SEC v. John James Sheehan, Jr. (ponzi schemes, 2020) SEC 2020-01-10 Ponzi Schemes $37.5k settled
SEC v. Donald G. Blakstad (2020) SEC 2020-01-08 — settled
SEC v. Edward Espinal and Cash Flow Partners, LLC (ponzi schemes, 2020) SEC 2020-01-07 Ponzi Schemes — filed
SEC v. Ulrik Debo (pump and dump, 2020) SEC 2020-01-03 Pump And Dump , Undisclosed Control Blocks — filed
SEC v. James V. Mazzo, et al. (insider trading, 2020) SEC 2020-01-02 Insider Trading $56k settled
SEC v. Pinto-Thomaz, et al. (insider trading, 2020) SEC 2020-01-02 Insider Trading — judgment
SEC v. Amir Waldman, et al. (insider trading, 2019) SEC 2019-12-23 Insider Trading — judgment
CFTC v. Christophe Rivoire (price manipulation, 2019) CFTC 2019-12-20 Price Manipulation — filed
SEC v. Retirement Surety LLC Crescendo Financial LLC Rose and others (unregistered distributions, 2019) SEC 2019-12-20 Unregistered Distributions $11.3k appealed
SEC v. S. Paul Kelley, et al. (reverse merger schemes, 2019) SEC 2019-12-20 Reverse Merger Schemes , Unregistered Distributions — settled
SEC v. Songjiang Wang (insider trading, 2019) SEC 2019-12-20 Insider Trading $50k settled
SEC v. Janardhan Nellore et al. (insider trading, 2019) SEC 2019-12-18 Insider Trading — settled
SEC v. Robert A. Karmann (ponzi schemes, 2019) SEC 2019-12-18 Ponzi Schemes — settled
SEC v. Sam A. Antar (2019) SEC 2019-12-18 — settled
SEC v. John Special and John Kenneth Davidson (insider trading, 2019) SEC 2019-12-12 Insider Trading $1.6m settled
AMF France v. Bloomberg LP (false information from a fake press release, 2019) AMF (France) 2019-12-11 Fake Press Releases — judgment
CFTC v. New Mexico Resident (ponzi schemes, 2019) CFTC 2019-12-10 Ponzi Schemes $5.2m settled
SEC v. Christopher Collins, et al. (insider trading, 2019) SEC 2019-12-10 Insider Trading — settled
SEC v. Jeffrey O. Friedland, Global Corporate Strategies LLC., and Intiva Pharma, LLC (paid stock promotion, 2019) SEC 2019-12-09 Paid Stock Promotion $2m judgment
SEC v. Lester Burroughs (ponzi schemes, 2019) SEC 2019-12-05 Ponzi Schemes — settled
AMF France v. Morgan Stanley & Co International Plc (price manipulation, 2019) AMF (France) 2019-12-04 Price Manipulation — judgment
SEC v. Brett Pittsenbargar, et al. (ponzi schemes, 2019) SEC 2019-11-25 Ponzi Schemes $100k settled
SEC v. Kevin B. Merrill, et al. (ponzi schemes, 2019) SEC 2019-11-25 Ponzi Schemes — filed
SEC v. David F. Bandimere (ponzi schemes, 2019) SEC 2019-11-22 Ponzi Schemes , Unregistered Distributions $130k settled
SEC v. Richard Lee, et al. (insider trading, 2019) SEC 2019-11-21 Insider Trading $130k judgment
SEC v. Ruless Pierre a/k/a Rules Pierre (ponzi schemes, 2019) SEC 2019-11-21 Ponzi Schemes — unknown
SEC v. Burkholz, et al. (ponzi schemes, 2019) SEC 2019-11-20 Ponzi Schemes $1.8m judgment
AMF France v. Guy Degrenne (false or misleading information, 2019) AMF (France) 2019-11-14 Misleading Issuer Disclosure — settled
AMF France v. Patrick du Pré de Saint Maur (insider trading, 2019) AMF (France) 2019-11-13 Insider Trading — settled
SEC v. Sebastian Pinto-Thomaz (insider trading, 2019) SEC 2019-11-12 Insider Trading — judgment
CFTC v. Mitsubishi Corporation RtM Japan Ltd. (spoofing, 2019) CFTC 2019-11-07 Spoofing $500k judgment
CFTC v. Tower Research Capital LLC (spoofing, 2019) CFTC 2019-11-07 Spoofing $24.4m judgment
SEC v. David N. Osegueda, et al. (pump and dump, 2019) SEC 2019-11-06 Pump And Dump $835k judgment
SEC v. Richard Eden, Christopher Neumann and Dale Pearlman (matched orders, 2019) SEC 2019-11-04 Matched Orders $225k settled
SEC v. Bovorn Rungruangnavarat (insider trading, 2019) SEC 2019-10-31 Insider Trading — judgment
SEC v. DFRF Enterprises LLC, et al. (ponzi schemes, 2019) SEC 2019-10-29 Ponzi Schemes $1m judgment
SEC v. Benjamin Taylor, Darina Windsor and Joseph Abdul Noor El-Khouri (insider trading, 2019) SEC 2019-10-22 Insider Trading $4.8m judgment
SEC v. Bryan Cohen and George Nikas (insider trading, 2019) SEC 2019-10-22 Insider Trading — settled
SEC v. Joseph Bayliss and Ronald Roach (ponzi schemes, 2019) SEC 2019-10-22 Ponzi Schemes — settled
SEC v. Michael J. Starkweather and Andiamo Corporation, William White (matched orders, 2019) SEC 2019-10-17 Matched Orders , Fake Press Releases $150k settled
CFTC v. Nevada Company and its Owner (ponzi schemes, 2019) CFTC 2019-10-16 Ponzi Schemes $1.5m judgment
CFTC v. unnamed respondents (ponzi schemes, 2019) CFTC 2019-10-15 Ponzi Schemes $12.6m judgment
SEC v. Eric J. "EJ" Dalius et al. (ponzi schemes, 2019) SEC 2019-10-15 Ponzi Schemes $3.1m settled
OSC v. Aly Babu Husein Mawji (pump and dump, 2019) OSC 2019-10-11 Pump And Dump — judgment
SEC v. Anton Senderov, et al. (boiler rooms, 2019) SEC 2019-10-10 Boiler Rooms $700k settled
SEC v. Daniel Rivas, et al. (insider trading, 2019) SEC 2019-10-10 Insider Trading — judgment
SEC v. Lek Securities Corporation and Samuel Lek (layering, 2019) SEC 2019-10-10 Layering $1.4m judgment
CFTC actions against affiliate marketers David Sechovich and Peter Szatmari (binary options fraud, 2019) CFTC 2019-10-07 — judgment
CFTC v. Belvedere Trading LLC (spoofing, 2019) CFTC 2019-10-01 Spoofing $1.1m judgment
CFTC v. Classic Energy LLC and Mathew D. Webb (front running, 2019) CFTC 2019-10-01 Front Running $1.5m settled
CFTC v. Morgan Stanley Capital Group Inc. (spoofing, 2019) CFTC 2019-10-01 Spoofing $1.5m judgment
CFTC v. RBC Capital Markets (wash trading, 2019) CFTC 2019-10-01 Wash Trading $5m judgment
CFTC v. Mitsubishi International Corporation (spoofing, 2019) CFTC 2019-10-01 Spoofing $400k judgment
CFTC v. Hard Eight Futures, LLC and Igor Chernomzav (spoofing, 2019) CFTC 2019-09-30 Price Manipulation , Spoofing $2.5m judgment
SEC v. Block.One (unregistered distributions, 2019) SEC 2019-09-30 Unregistered Distributions $24m settled
SEC v. Gil Beserglik, et al. (boiler rooms, 2019) SEC 2019-09-30 Boiler Rooms $865k settled
SEC v. James T. Booth (ponzi schemes, 2019) SEC 2019-09-30 Ponzi Schemes — settled
SEC v. iQuantifi, Inc. and Thomas F. White (unregistered distributions, 2019) SEC 2019-09-27 Unregistered Distributions $25k settled
OSC v. Solar Income Fund Inc. and others (2019) OSC 2019-09-26 — judgment
SEC v. Sean Stewart, et al. (insider trading, 2019) SEC 2019-09-26 Insider Trading — settled
SEC v. Andres Fernandez and Edison Denizard (ponzi schemes, 2019) SEC 2019-09-25 Ponzi Schemes — judgment
SEC v. Chip Hackley (matched orders, 2019) SEC 2019-09-25 Matched Orders , Undisclosed Control Blocks — settled
SEC v. George Matin (matched orders, 2019) SEC 2019-09-25 Matched Orders , Price Manipulation — settled
SEC v. Harold Minsky (matched orders, 2019) SEC 2019-09-25 Matched Orders , Price Manipulation — settled
SEC v. James Alex Irvin (insider trading, 2019) SEC 2019-09-25 Insider Trading $252k settled
SEC v. William M. Apostelos, et al. (ponzi schemes, 2019) SEC 2019-09-25 Ponzi Schemes , Unregistered Distributions — judgment
SEC v. James Wallace Nall, III, et al. (insider trading, 2019) SEC 2019-09-24 Insider Trading $437k settled
SEC v. Benjamin Conde, with Essex Global Investment Corp. and Facultas Capital Management, Inc. as relief defendants (boiler rooms, 2019) SEC 2019-09-23 Boiler Rooms — filed
CFTC v. Trader and his Company (ponzi schemes, 2019) CFTC 2019-09-19 Ponzi Schemes — settled
SEC v. Brian Robert Sodi, et al. (newsletter scalping, 2019) SEC 2019-09-19 Newsletter Scalping , Paid Stock Promotion +1 — settled
Corporate finance director charged with conspiring to manipulate market (ASIC, 2019) ASIC 2019-09-18 Price Manipulation — judgment
SEC v. Mediatrix Capital Inc., et al. (2019) SEC 2019-09-18 — filed
CFTC v. Jared J. Davis (rigged binary options execution, 2019) CFTC 2019-09-17 Rigged Binary Options Execution — settled
CFTC v. Jared J. Davis (rigged binary options execution, 2023) CFTC 2019-09-17 Rigged Binary Options Execution — settled
CFTC v. Christian Trunz (spoofing, 2019) CFTC 2019-09-16 Spoofing — judgment
CFTC v. John Lawrence and Heraeus Metals New York LLC (spoofing, 2019) CFTC 2019-09-16 Spoofing $1m judgment
CFTC v. Michael Nowak and Gregg Smith (spoofing, 2019) CFTC 2019-09-16 Price Manipulation , Spoofing $350k settled
SEC v. Vandham Securities Corp. (naked short selling debate, 2019) SEC 2019-09-16 Naked Short Selling Debate $200k settled
SEC v. Bio Defense Corporation, et al. (boiler rooms, 2019) SEC 2019-09-13 Boiler Rooms , Unregistered Distributions — judgment
Former director convicted of market manipulation (ASIC, 2019) ASIC 2019-09-09 Price Manipulation — judgment
CFTC v. Dominick Vincent Carducci and VOS Capital Management, LLC (2019) CFTC 2019-09-09 $2.9m judgment
SEC v. Abner Silva (2019) SEC 2019-09-06 $80k settled
SEC v. Toon Goggles Inc., et al. (boiler rooms, 2019) SEC 2019-09-06 Boiler Rooms $5.2m judgment
SEC v. Keith G. Daubenspeck and Geoffrey L. Homer (insider trading, 2019) SEC 2019-09-05 Insider Trading $111k settled
AMF France v. Benoît Miquel (insider trading, 2019) AMF (France) 2019-09-04 Insider Trading — settled
SEC v. Executive Financial Services, Inc. (ponzi schemes, 2019) SEC 2019-09-04 Ponzi Schemes , Unregistered Distributions $8.1m judgment
SEC v. Morrie Tobin et al. (undisclosed control blocks, 2019) SEC 2019-08-30 Undisclosed Control Blocks , Reverse Merger Schemes — settled
SEC v. Live Well Financial, Inc., Michael C. Hild, Eric Rohr, and Darren Stumberger (mismarking, 2019) SEC 2019-08-29 Mismarking — settled
SEC v. EMS Capital LP (naked short selling debate, 2019) SEC 2019-08-27 Naked Short Selling Debate $60k settled
OSC v. Royal Bank of Canada (FX supervision and controls, 2019) OSC 2019-08-26 — settled
OSC v. The Toronto-Dominion Bank (FX supervision and controls, 2019) OSC 2019-08-26 — settled
SEC v. Baker and others (unregistered distributions, 2019) SEC 2019-08-26 Unregistered Distributions $650k judgment
SEC v. Terry Wayne Kelly and Kelly Management, LLC (ponzi schemes, 2019) SEC 2019-08-22 Ponzi Schemes — settled
SEC v. ICO Rating (paid stock promotion, 2019) SEC 2019-08-20 Paid Stock Promotion $162k settled
SEC v. TherapeuticsMD, Inc. (2019) SEC 2019-08-20 $200k settled
SEC v. Bill Tsai (insider trading, 2019) SEC 2019-08-16 Insider Trading — settled