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. Charles Raymond Langston III, CRL Management, LLC, and Guarantee Reinsurance, Ltd. (insider trading, 2015) SEC 2015-06-11 Insider Trading , Rule 105 Offering Shorts $502k judgment
SEC v. Spectrum Concepts, LLC Worswick and others (unregistered distributions, 2015) SEC 2015-06-11 Unregistered Distributions $120k settled
SEC v. Michael J. Fefferman, Chad E. Wiegand, and Akis C. Eracleous (insider trading, 2015) SEC 2015-06-09 Insider Trading — settled
SEC v. Anthony Andrade, et al. (insider trading, 2015) SEC 2015-06-08 Insider Trading $39.6k settled
SEC v. Edmond L. Lonergan and Green Planet Group, Inc. (paid stock promotion, 2015) SEC 2015-06-02 Paid Stock Promotion — unknown
SEC v. Merrill Lynch (naked short selling debate, 2015) SEC 2015-06-01 Naked Short Selling Debate $9m filed
OSC v. Davide Amato and others (ponzi schemes, 2015) OSC 2015-05-29 Ponzi Schemes — judgment
SEC v. Adam S. Gottbetter, Mitchell G. Adam, and K. David Stevenson (paid stock promotion, 2015) SEC 2015-05-28 Paid Stock Promotion — settled
SEC v. Mike Taxon and Itamar Cohen (paid stock promotion, 2015) SEC 2015-05-28 Paid Stock Promotion — settled
SEC v. Luis Chang and Everbright Development Overseas, Limited (sham tender offers, 2015) SEC 2015-05-28 Sham Tender Offers $2.9m judgment
Alleged Ponzi scheme operator faces court (ASIC, 2015) ASIC 2015-05-26 Ponzi Schemes — filed
ASIC permanently bans Australian mastermind of UK fraud (2015) ASIC 2015-05-21 Boiler Rooms — unknown
CFTC v. Barclays (benchmark submission rigging, 2015) CFTC 2015-05-21 Benchmark Submission Rigging , Price Manipulation $115m judgment
CFTC v. of Attempted Manipulation and False Reporting of Foreign Exchange Benchmark Rates (benchmark submission rigging, 2015) CFTC 2015-05-21 Benchmark Submission Rigging , FX Fixing +1 $400m judgment
FCA v. Barclays Bank PLC (benchmark submission rigging, 2015) FCA 2015-05-20 Benchmark Submission Rigging , FX Fixing — settled
SEC v. China Valves Technology, Inc., et al. (reverse merger schemes, 2015) SEC 2015-05-20 Reverse Merger Schemes $575k judgment
SEC v. Brian D. Jorgenson, et al. (insider trading, 2015) SEC 2015-05-14 Insider Trading — judgment
CFTC v. United Arab Emirates Residents Heet Khara and Nasim Salim (spoofing, 2015) CFTC 2015-05-06 Spoofing — judgment
SEC v. North Dakota Developments, LLC, Robert L. Gavin, and Daniel J. Hogan, et. al. (ponzi schemes, 2015) SEC 2015-05-06 Ponzi Schemes — filed
CFTC v. North Carolina Resident Barry C. Taylor and His Companies (ponzi schemes, 2015) CFTC 2015-05-01 Ponzi Schemes — filed
OSC v. Constance Anderson (insider trading, 2015) OSC 2015-05-01 Insider Trading — unknown
SEC v. Xiaoyu Xia and Yanting Hu (insider trading, 2015) SEC 2015-04-29 Insider Trading — judgment
SEC v. Frank Perkins Hixon, Jr., et al. (insider trading, 2015) SEC 2015-04-28 Insider Trading — judgment
CFTC v. of Manipulation (benchmark submission rigging, 2015) CFTC 2015-04-24 Benchmark Submission Rigging , FX Fixing +1 $800m judgment
SEC v. Veros Partners, Inc., et al. (ponzi schemes, 2015) SEC 2015-04-24 Ponzi Schemes — filed
FCA v. Deutsche Bank AG (benchmark submission rigging, 2015) FCA 2015-04-23 Benchmark Submission Rigging , Price Manipulation — dismissed
SEC v. Houston American Energy Corp. Terwilliger and others (paid stock promotion, 2015) SEC 2015-04-23 Paid Stock Promotion $22.5k settled
SEC v. Tracy Morgan Spaeth (unregistered distributions, 2015) SEC 2015-04-23 Unregistered Distributions — settled
CFTC v. U.K. Resident Navinder Singh Sarao and His Company Nav Sarao Futures Limited PLC (layering, 2015) CFTC 2015-04-22 Layering , Price Manipulation +1 — judgment
CFTC v. Florida Resident Dorian A. Garcia and his Companies (ponzi schemes, 2015) CFTC 2015-04-21 Ponzi Schemes — filed
SEC v. Joseph John Labadia (undisclosed control blocks, 2015) SEC 2015-04-17 Unregistered Distributions — settled
SEC v. Daniel P. McKelvey, et al. (pump and dump, 2015) SEC 2015-04-16 Pump And Dump , Reverse Merger Schemes — settled
SEC v. eCareer Holdings, Inc., eCareer, Inc., Joseph J. Azzata, Dean A. Esposito, Joseph DeVito, and Frederick J. Birks, et al. (boiler rooms, 2015) SEC 2015-04-16 Boiler Rooms — unknown
SEC v. Edward T. Farmer (undisclosed control blocks, 2015) SEC 2015-04-16 Undisclosed Control Blocks — settled
SEC v. Kevin D. Miller (undisclosed control blocks, 2015) SEC 2015-04-16 Undisclosed Control Blocks — settled
SEC v. Ronald A. Warren (undisclosed control blocks, 2015) SEC 2015-04-16 Undisclosed Control Blocks — settled
SEC v. William J. Gaffney (undisclosed control blocks, 2015) SEC 2015-04-16 Undisclosed Control Blocks — settled
SEC v. James A. Evans, Jr., d/b/a Cashflowbot.com, d/b/a DollarMonster (ponzi schemes, 2015) SEC 2015-04-13 Ponzi Schemes — unknown
SEC v. Capital Financial Partners, LLC et al. (ponzi schemes, 2015) SEC 2015-04-07 Ponzi Schemes — unknown
SEC v. Team Resources, Inc., et al. (unregistered distributions, 2015) SEC 2015-04-06 Unregistered Distributions — settled
CFTC v. Kraft Foods Group (price manipulation, 2015) CFTC 2015-04-02 Price Manipulation — unknown
SEC v. David Craven et al. (pump and dump, 2015) SEC 2015-04-01 Pump And Dump , Wash Trading — filed
OSC v. Andre Lewis (ponzi schemes, 2015) OSC 2015-04-01 Ponzi Schemes — filed
CFTC v. Daniel Shak (price manipulation, 2015) CFTC 2015-03-31 Price Manipulation $100k judgment
FCA v. Kenneth George Carver (insider trading, 2015) FCA 2015-03-30 Insider Trading — settled
SEC v. Gregory W. Gray, Jr., et al. (ponzi schemes, 2015) SEC 2015-03-27 Ponzi Schemes — filed
SEC v. Keypoint Capital Management, LLC (rule 105 offering shorts, 2015) SEC 2015-03-19 Rule 105 Offering Shorts $65k settled
SEC v. Randal Kent Hansen (ponzi schemes, 2015) SEC 2015-03-18 Ponzi Schemes — judgment
Two men sentenced in Australia’s largest insider trading case (ASIC, 2015) ASIC 2015-03-17 Insider Trading — dismissed
SEC v. David Craven et al. (pump and dump, 2015) SEC 2015-03-12 Pump And Dump , Wash Trading — unknown
OSC v. Anand Hariharan and Satish Talawdekar (insider trading, 2015) OSC 2015-03-11 Insider Trading — unknown
SEC v. Bonan Huang and Nan Huang (insider trading, 2015) SEC 2015-03-10 Insider Trading — judgment
SEC v. Julieann Palmer Martin (ponzi schemes, 2015) SEC 2015-03-09 Ponzi Schemes , Unregistered Distributions — settled
SEC v. Zeringue, et al. (insider trading, 2015) SEC 2015-03-06 Insider Trading — settled
SEC v. Gary S. Williky (insider trading, 2015) SEC 2015-03-02 Insider Trading , Newsletter Scalping +2 — settled
SEC v. Joseph A. Noel (pump and dump, 2015) SEC 2015-02-26 Pump And Dump — judgment
SEC v. Mark A. Lefkowitz, et al. (unregistered distributions, 2015) SEC 2015-02-24 Unregistered Distributions — judgment
SEC v. John A. Geringer (ponzi schemes, 2015) SEC 2015-02-23 Ponzi Schemes — judgment
SEC v. Scott Zeringue and Jesse Roberts, III (insider trading, 2015) SEC 2015-02-19 Insider Trading $64k judgment
SEC v. Kristine L. Johnson, Troy A. Barnes, Work with Troy Barnes, Inc. (d/b/a) The Achieve Community, Defendants, and Achieve International, LLC, Relief Defendant (ponzi schemes, 2015) SEC 2015-02-18 Ponzi Schemes — unknown
SEC v. Steven B. Hart (insider trading, 2015) SEC 2015-02-18 Insider Trading — settled
SEC v. Caledonian Bank Ltd., et al. (unregistered distributions, 2015) SEC 2015-02-11 Unregistered Distributions — filed
SEC v. Hill and Charles L., Jr. (insider trading, 2015) SEC 2015-02-11 Insider Trading — unknown
SEC v. John Gray et al. (insider trading, 2015) SEC 2015-02-05 Insider Trading — settled
SEC v. Joel J. Epstein (insider trading, 2015) SEC 2015-02-03 Insider Trading — judgment
SEC v. Phillip Cory Roberts (reverse merger schemes, 2015) SEC 2015-02-03 Reverse Merger Schemes — judgment
SEC v. Edwin Yoshihiro Fujinaga and MRI International, Inc., et al. (ponzi schemes, 2015) SEC 2015-01-30 Ponzi Schemes — judgment
SEC v. Francisco Illarramendi, et al. (ponzi schemes, 2015) SEC 2015-01-30 Ponzi Schemes — judgment
SEC v. Quan and Marlon Stewardship Investment Advisors, LLC (ponzi schemes, 2015) SEC 2015-01-30 Ponzi Schemes — judgment
SEC v. International Capital Group, LLC (reverse merger schemes, 2015) SEC 2015-01-29 Reverse Merger Schemes , Unregistered Distributions $1.5m settled
SEC v. Loren W. Holzhueter, et al. (ponzi schemes, 2015) SEC 2015-01-29 Ponzi Schemes — unknown
SEC v. Oppenheimer & Co. Inc. (pump and dump, 2015) SEC 2015-01-27 Pump And Dump , Unregistered Distributions — filed
FCA v. David Caplin (benchmark submission rigging, 2015) FCA 2015-01-22 Benchmark Submission Rigging , Price Manipulation +1 — settled
FCA v. Jeremy Kraft (benchmark submission rigging, 2015) FCA 2015-01-22 Benchmark Submission Rigging , Cash Vs Derivatives Schemes +2 — settled
SEC v. du Pasquier & Co., Inc. (naked short selling debate, 2015) SEC 2015-01-21 Naked Short Selling Debate $50k settled
SEC v. Frederic Elm f/k/a Frederic Elmaleh, et al. (ponzi schemes, 2015) SEC 2015-01-21 Ponzi Schemes — judgment
SEC v. Robert A. Ramsey, CPA (insider trading, 2015) SEC 2015-01-21 Insider Trading $130k settled
SEC v. Gary Harrison Lane (ponzi schemes, 2015) SEC 2015-01-20 Ponzi Schemes — judgment
CFTC v. Allied Markets LLC (ponzi schemes, 2015) CFTC 2015-01-13 Ponzi Schemes — filed
SEC v. Aleksandr Milrud (layering, 2015) SEC 2015-01-13 Layering — judgment
SEC v. Nicholas D. Skaltsounis (ponzi schemes, 2014) SEC 2014-12-31 Ponzi Schemes , Unregistered Distributions — judgment
CFTC v. Royal Bank (wash trading, 2014) CFTC 2014-12-19 Wash Trading $35m judgment
SEC v. Robert A. Hemm (insider trading, 2014) SEC 2014-12-05 Insider Trading $21.8k settled
Former Genetic Technologies CEO jailed for market manipulation (ASIC, 2014) ASIC 2014-11-28 Price Manipulation — unknown
SEC v. Wedbush Securities Inc. Jeffrey Bell Christina Fillhart (layering, 2014) SEC 2014-11-20 Layering , Marking The Close +5 — settled
CFTC v. Five Banks (benchmark submission rigging, 2014) CFTC 2014-11-12 Benchmark Submission Rigging , FX Fixing +1 $1.4bn judgment
SEC v. Michael S. Geist and Brent E. Taylor (insider trading, 2014) SEC 2014-11-12 Insider Trading $27.3k settled
SEC v. Pennington Capital Management LLC and Robert J. Evans (rule 105 offering shorts, 2014) SEC 2014-11-12 Rule 105 Offering Shorts $65k settled
Victorian couple charged with $1.5 million fraud (ASIC, 2014) ASIC 2014-11-11 Ponzi Schemes — filed
FCA v. Citibank N.A. (benchmark submission rigging, 2014) FCA 2014-11-11 Benchmark Submission Rigging , FX Fixing — settled
FCA v. HSBC Bank plc (benchmark submission rigging, 2014) FCA 2014-11-11 Benchmark Submission Rigging , FX Fixing — settled
FCA v. JPMorgan Chase Bank N.A. (benchmark submission rigging, 2014) FCA 2014-11-11 Benchmark Submission Rigging , FX Fixing — settled
FCA v. The Royal Bank of Scotland plc (benchmark submission rigging, 2014) FCA 2014-11-11 Benchmark Submission Rigging , FX Fixing — settled
FCA v. UBS AG (benchmark submission rigging, 2014) FCA 2014-11-11 Benchmark Submission Rigging , FX Fixing — settled
SEC v. Eureeca Capital SPC (unregistered distributions, 2014) SEC 2014-11-10 Unregistered Distributions $25k settled
CFTC v. unnamed respondents (wash trading, 2014) CFTC 2014-11-07 Wash Trading — filed
CFTC v. MF Global Inc. (boiler rooms, 2014) CFTC 2014-11-07 Boiler Rooms , Matched Orders +1 — settled
Former Genetic Technologies CEO convicted of market manipulation (ASIC, 2014) ASIC 2014-11-05 Price Manipulation — unknown
SEC v. Thomas and Delsa U. The D. Christopher Capital Management Group, LLC (ponzi schemes, 2014) SEC 2014-11-04 Ponzi Schemes $150k judgment
SEC v. Steven Durrelle Williams (insider trading, 2014) SEC 2014-11-04 Insider Trading $75k settled