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
SEC v. Avaneesh Krishnamoorthy (insider trading, 2017) SEC 2017-09-29 Insider Trading — judgment
SEC v. Jason McDiarmid, et al. (boiler rooms, 2017) SEC 2017-09-29 Boiler Rooms , Pump And Dump $3.3m judgment
SEC v. Micheal A. Skerry (newsletter scalping, 2017) SEC 2017-09-29 Newsletter Scalping , Unregistered Distributions $1.1m judgment
CFTC v. Sarwar and Elfrimi (ponzi schemes, 2017) CFTC 2017-09-28 Ponzi Schemes — filed
CFTC v. Tillage Commodities, LLC (supervision failures, 2017) CFTC 2017-09-28 $150k judgment
SEC v. David Howard Welch, et al (boiler rooms, 2017) SEC 2017-09-28 Boiler Rooms $30k settled
SEC v. Fengjiu Zhang and Xianli Kong (insider trading, 2017) SEC 2017-09-28 Insider Trading $88.8k settled
SEC v. Laurence M. Torres (churning, 2017) SEC 2017-09-28 Churning $160k settled
SEC v. Naris Chamroonrat (2017) SEC 2017-09-28 — judgment
SEC v. Pedro Fort Berbel and others (ponzi schemes, 2017) SEC 2017-09-28 Ponzi Schemes $7m judgment
SEC v. Sean Stewart et al. (insider trading, 2017) SEC 2017-09-28 Insider Trading — judgment
SEC v. Success Holding Group International, Inc. (unregistered distributions, 2017) SEC 2017-09-28 Unregistered Distributions $100k settled
SEC v. Jason Napodano, Bilal Basrai and Bryce Stirton (insider trading, 2017) SEC 2017-09-26 Insider Trading $186k settled
SEC v. LBMZ Securities, Inc. (2017) SEC 2017-09-26 $240k settled
OSC v. Donna Hutchinson, Cameron Cornish, David Sidders and Patrick Jelf Caruso (insider trading, 2017) OSC 2017-09-22 Insider Trading — judgment
CFTC v. Nicholas Gelfman and Gelfman Blueprint, Inc. (ponzi schemes, 2017) CFTC 2017-09-21 Ponzi Schemes $2m settled
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 $8.1k settled
SEC v. Peter C. Chang (insider trading, 2017) SEC 2017-09-20 Insider Trading $500k settled
Sydney man faces charges for market manipulation (ASIC, 2017) ASIC 2017-09-19 Price Manipulation — judgment
SEC v. Francisco Illarramendi, Highview Point and Michael Kenwood (ponzi schemes, 2017) SEC 2017-09-19 Ponzi Schemes $1m judgment
SEC v. Lawrence F. Cluff, Jr., Roger E. Shaoul, and James Shaoul (insider trading, 2017) SEC 2017-09-13 Insider Trading $5.1m settled
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 $11.6k settled
SEC v. Craig H. Carton, et al. (ponzi schemes, 2017) SEC 2017-09-06 Ponzi Schemes — settled
SEC v. Scott Newsholme (2017) SEC 2017-09-06 — judgment
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 $225k judgment
SEC v. Evan R. Kita, et al. (insider trading, 2017) SEC 2017-08-31 Insider Trading — judgment
OSC v. Khalid Walid Jawhari (insider trading, 2017) OSC 2017-08-30 Insider Trading — judgment
SEC v. Tennstar Energy, Inc., et al. (boiler rooms, 2017) SEC 2017-08-30 Boiler Rooms — judgment
SEC v. Lek Securities Corporation, Samuel Lek, Avalon FA Ltd, Nathan Fayyer and Sergey Pustelnik (layering, 2017 ruling) SEC 2017-08-29 Layering $23.9m judgment
Day trader pleads guilty to market manipulation (ASIC, 2017) ASIC 2017-08-28 Price Manipulation — judgment
SEC v. Caledonian Bank Ltd., et al. (unregistered distributions, 2017) SEC 2017-08-25 Unregistered Distributions $19.2m judgment
SEC v. Dawn J. Bennett and DJB Holdings (ponzi schemes, 2017) SEC 2017-08-25 Ponzi Schemes — judgment
SEC v. Jack Sini (boiler rooms, 2017) SEC 2017-08-23 Boiler Rooms — settled
SEC v. Jason Hershberger (boiler rooms, 2017) SEC 2017-08-23 Boiler Rooms — settled
SEC v. Juan M. Perez Ortega (boiler rooms, 2017) SEC 2017-08-23 Boiler Rooms — settled
SEC v. Martin Miller (boiler rooms, 2017) SEC 2017-08-23 Boiler Rooms — settled
SEC v. Shawna Leigh Lynch (boiler rooms, 2017) SEC 2017-08-23 Boiler Rooms — settled
CFTC v. Lanzana, Masanko, Blackbox Pulse and White Cloud Mountain (ponzi schemes, 2017) CFTC 2017-08-21 Ponzi Schemes $2m judgment
SEC v. Deerfield Management Company, L.P. (2017) SEC 2017-08-21 $3.9m settled
SEC v. Banca IMI Securities Corp. (2017) SEC 2017-08-18 $15m settled
SEC v. Daniel Rivas, et al. (insider trading, 2017) SEC 2017-08-16 Insider Trading — judgment
CFTC v. Aruba-based Copersucar Trading A.V.V. (wash trading, 2017) CFTC 2017-08-15 Wash Trading $300k judgment
SEC v. Robert Cortez Marshall and Adz on Wheelz (ponzi schemes, 2017) SEC 2017-08-15 Ponzi Schemes $1.5m judgment
SEC v. Damon Hovannisian, et al. (insider trading, 2017) SEC 2017-08-11 Insider Trading $308k settled
SEC v. Louis Martin Blazer III (2017) SEC 2017-08-10 $150k settled
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
CFTC v. The Bank of Tokyo-Mitsubishi UFJ, Ltd. (spoofing, 2017) CFTC 2017-08-07 Spoofing $600k judgment
SEC v. Joe Yiu Cheung, a/k/a Dylon de lu Zhang (paid stock promotion, 2017) SEC 2017-08-02 Paid Stock Promotion , Pump And Dump +1 $150k settled
SEC v. Jeffrey D. Martin, Thomas L. Tedrow and others (Mainstream Entertainment pump and dump, 2017) SEC 2017-08-01 Pump And Dump , Paid Stock Promotion +2 $142k judgment
SEC v. Karen F. Aalders (pump and dump, 2017) SEC 2017-07-31 Pump And Dump , Unregistered Distributions — settled
SEC v. Sterling Craig Barton (unregistered distributions, 2017) SEC 2017-07-31 Unregistered Distributions $100k settled
SEC v. Harold L. Altvater (insider trading, 2017) SEC 2017-07-28 Insider Trading — settled
SEC v. Windsor Street Capital, L.P. ( and others (unregistered distributions, 2017) SEC 2017-07-28 Unregistered Distributions $200k settled
CFTC v. Simon Posen (spoofing, 2017) CFTC 2017-07-26 Spoofing $635k judgment
SEC v. Joey Stanton Dodson (ponzi schemes, 2017) SEC 2017-07-26 Ponzi Schemes $859k judgment
SEC v. Joey Giamichael and Umbrella Research, LLC (newsletter scalping, 2017) SEC 2017-07-25 Newsletter Scalping , Paid Stock Promotion $48.9k settled
SEC v. Andrew Farmer, et al. (pump and dump, 2017) SEC 2017-07-24 Pump And Dump $2m judgment
SEC v. Lubin and David (2017) SEC 2017-07-19 — judgment
SEC v. Troy Joseph Flowers, Sean Nevett and Fruition Inc. (undisclosed control blocks, 2017) SEC 2017-07-19 Undisclosed Control Blocks $310k judgment
SEC v. John F. Stimpson (insider trading, 2017) SEC 2017-07-18 Insider Trading $136k settled
SEC v. Powertraderspress.com, Inc., Elite Stock Research, Inc. and others (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. Eric David Wanger and Wanger Investment Management, Inc. (marking the close, 2017) SEC 2017-07-10 Marking The Close $75k settled
SEC v. Steve G. Blasko (boiler rooms, 2017) SEC 2017-07-07 Boiler Rooms , Unregistered Distributions $945k judgment
SEC v. Cheryl L. Jones (ponzi schemes, 2017) SEC 2017-07-03 Ponzi Schemes — dismissed
SEC v. Sasan Sabrdaran and Farhang Afsarpour (insider trading, 2017) SEC 2017-06-30 Insider Trading — judgment
CFTC non-prosecution agreements with Jeremy Lao, Daniel Liao and Shlomo Salant (spoofing, 2017) CFTC 2017-06-29 Spoofing — settled
CFTC v. Rosenthal Collins Capital Markets LLC (wash trading, 2017) CFTC 2017-06-29 Wash Trading $5.2m judgment
SEC v. Andrew S. Keck (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks $2.5k settled
SEC v. Christopher A. Conley (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks $2.5k 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 $2.5k 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 $12.3k settled
SEC v. Wm Smith & Co. and William S. Smith (2017) SEC 2017-06-26 $85k settled
SEC v. James M. Farinella, et al. (matched orders, 2017) SEC 2017-06-21 Matched Orders , Pump And Dump — settled
SEC v. Yu-Cheng Lin (insider trading, 2017) SEC 2017-06-19 Insider Trading — judgment
ASIC v. UBS Securities (2017) ASIC 2017-06-15 — settled
SEC v. Edwin Yoshihiro Fujinaga and MRI International, Inc., et al. (ponzi schemes, 2017) SEC 2017-06-15 Ponzi Schemes — judgment
SEC v. Jehu Hand and Antonio Katz (pump and dump, 2017) SEC 2017-06-15 Pump And Dump , Unregistered Distributions — judgment
SEC v. Tod A. Ditommaso, Esq. (unregistered distributions, 2017) SEC 2017-06-13 Unregistered Distributions $1.5k judgment
AMF France v. Jacques Tordjman (insider trading, 2017) AMF (France) 2017-06-07 Insider Trading — settled
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 $69.7k settled
SEC v. Homero Joshua Garza, GAW Miners, LLC, and ZenMiner, LLC (ponzi schemes, 2017) SEC 2017-06-05 Ponzi Schemes $2m judgment
CFTC v. David Liew (price manipulation, 2017) CFTC 2017-06-02 Price Manipulation , Spoofing — settled
SEC v. Adesh Kumar Tyagi (marking the close, 2017) SEC 2017-06-01 Marking The Close — settled
SEC v. Harrison Katzen (boiler rooms, 2017) SEC 2017-05-31 Boiler Rooms — judgment
AMF France v. A (analyst manipulation, 2017) AMF (France) 2017-05-29 Analyst Manipulation — judgment
AMF France v. Deutsche Bank AG London Branch (layering, 2017) AMF (France) 2017-05-29 Layering , Spoofing — settled
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 — judgment
SEC v. Imran Husain, et al. (shell factories, 2017) SEC 2017-05-24 Shell Factories , Undisclosed Control Blocks — filed