Market Manipulation. Search

Market manipulation case library

This library records 2,348 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
2,348
Total penalties
$15.4bn
Median penalty
$255k
Agencies
5
Techniques
37

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 709 Ponzi schemes 568 Paid stock promotion 222 Unregistered distributions 137 Pump and dump 128 Price manipulation 124 Spoofing 120 Undisclosed control blocks 120 Wash trading 108 Boiler rooms 75 Reverse merger schemes 66 Benchmark submission rigging 53 The naked short selling debate 43 Matched orders 38 Churning 21 Layering 19 Free riding and parking 18 Fake press releases 16 Cash versus derivatives schemes 15 Newsletter scalping 15 Marking the close 13 Front running 12 Chat group pumps 11 FX fixing 11 Shell factories 8 False rumours 5 Custodianship shell hijacking 5 Settlement price manipulation 4 Exchange wash trading 3 Banging the close 3 Engineered short squeeze 2 Marking the open 1 Rug pulls 1 Insider listing trading 1 Oracle manipulation 1 Float locking 1 Dilution death spirals 1

By agency

ASIC 112 CFTC 347 FCA 47 OSC 71 SEC 1771

By year filed

2026 91 2025 120 2024 193 2023 223 2022 188 2021 159 2020 200 2019 192 2018 244 2017 228 2016 194 2015 229 2014 44 2013 43

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. South Carolina Residents Robert S. and Amy L. Leben (ponzi schemes, 2014) CFTC 2014-03-20 Ponzi Schemes — unknown
FCA v. Mark Stevenson (price manipulation, 2014) FCA 2014-03-20 Price Manipulation — settled
OSC v. David De Gouveia (wash trading, 2014) OSC 2014-02-18 Wash Trading — unknown
CFTC v. Defendants Harbor Light Asset (ponzi schemes, 2014) CFTC 2014-02-12 Ponzi Schemes $5.2m judgment
OSC v. Graziana Casale and Sterling Grace & Co. Ltd (boiler rooms, 2014) OSC 2014-01-15 Boiler Rooms — settled
CFTC v. David M. Nunn (wash trading, 2013) CFTC 2013-12-20 Wash Trading $600k judgment
CFTC v. David R. Lynch (ponzi schemes, 2013) CFTC 2013-12-13 Ponzi Schemes $300k judgment
OSC v. Imtiaz Hashmani (insider trading, 2013) OSC 2013-11-29 Insider Trading — filed
CFTC v. of Attempted Manipulation of NYMEX Crude Oil Futures Contracts (banging the close, 2013) CFTC 2013-11-26 Banging The Close , Price Manipulation +1 $400k judgment
OSC v. TransCap Corporation and others (ponzi schemes, 2013) OSC 2013-11-21 Ponzi Schemes — unknown
FCA v. Rahul Shah Individual (insider trading, 2013) FCA 2013-11-13 Insider Trading — dismissed
CFTC v. Donald R. Wilson and his Company (banging the close, 2013) CFTC 2013-11-07 Banging The Close , Price Manipulation +1 — unknown
CFTC v. Co (benchmark submission rigging, 2013) CFTC 2013-10-30 Benchmark Submission Rigging , Price Manipulation $475m judgment
FCA v. Coöperatieve Centrale Raiffeisen–Boerenleenbank B.A. (‘Rabobank’) (benchmark submission rigging, 2013) FCA 2013-10-29 Benchmark Submission Rigging , Cash Vs Derivatives Schemes +1 — settled
CFTC v. UBS (benchmark submission rigging, 2013) CFTC 2013-10-25 Benchmark Submission Rigging , Ponzi Schemes +2 $1.5m settled
OSC v. Bradon Technologies Ltd. and others (ponzi schemes, 2013) OSC 2013-10-03 Ponzi Schemes — dismissed
CFTC v. Registered COMEX Floor Broker Dominick Anthony Cognata (matched orders, 2013) CFTC 2013-10-01 Matched Orders — filed
OSC v. Weizhen Tang (ponzi schemes, 2013) OSC 2013-09-30 Ponzi Schemes — dismissed
CFTC v. ICAP Europe Limited (benchmark submission rigging, 2013) CFTC 2013-09-26 Benchmark Submission Rigging , Price Manipulation $65m judgment
FCA v. ICAP Europe Ltd (benchmark submission rigging, 2013) FCA 2013-09-25 Benchmark Submission Rigging , Price Manipulation — settled
OSC v. Louis Michael Kovacs (insider trading, 2013) OSC 2013-09-17 Insider Trading — unknown
CFTC v. unnamed respondents (ponzi schemes, 2013) CFTC 2013-08-27 Ponzi Schemes $350k settled
OSC v. Kevin Warren Zietsoff (ponzi schemes, 2013) OSC 2013-08-19 Ponzi Schemes — settled
CFTC v. Panther Energy Trading LLC and its Principal Michael J. Coscia (spoofing, 2013) CFTC 2013-07-23 Spoofing $1.4m judgment
CFTC v. Texas-based RFF GP (paid stock promotion, 2013) CFTC 2013-07-13 Paid Stock Promotion — unknown
FCA v. Michael Coscia (layering, 2013) FCA 2013-07-03 Layering , Price Manipulation +1 — settled
CFTC v. Defendant Christopher Varlesi (paid stock promotion, 2013) CFTC 2013-06-26 Paid Stock Promotion , Ponzi Schemes $700k judgment
CFTC v. North Carolina Resident C. David Wright (ponzi schemes, 2013) CFTC 2013-06-26 Ponzi Schemes — unknown
CFTC v. Bentley Equities (ponzi schemes, 2013) CFTC 2013-06-05 Ponzi Schemes $150k judgment
CFTC v. Defendants Philip Milton (ponzi schemes, 2013) CFTC 2013-05-24 Ponzi Schemes $4m judgment
CFTC v. Christy (ponzi schemes, 2013) CFTC 2013-05-21 Ponzi Schemes — settled
CFTC v. unnamed respondents (ponzi schemes, 2013) CFTC 2013-05-14 Ponzi Schemes $2.5m filed
CFTC v. Ron Eibschutz (insider trading, 2013) CFTC 2013-05-09 Insider Trading — filed
OSC v. Ming Chao Zhao (insider trading, 2013) OSC 2013-05-02 Insider Trading — unknown
CFTC v. Kevin McLaren (wash trading, 2013) CFTC 2013-04-30 Wash Trading $200k judgment
CFTC v. unnamed respondents (ponzi schemes, 2013) CFTC 2013-04-24 Ponzi Schemes $1.5m judgment
CFTC v. Defendants PMC (ponzi schemes, 2013) CFTC 2013-04-18 Ponzi Schemes $560k judgment
CFTC v. New York Firm 4X Solutions (ponzi schemes, 2013) CFTC 2013-04-09 Ponzi Schemes — filed
CFTC v. Cilli (ponzi schemes, 2013) CFTC 2013-03-28 Ponzi Schemes — unknown
OSC v. Stephen Campbell (wash trading, 2013) OSC 2013-03-26 Wash Trading — filed
OSC v. Fernando Honorate Fagundes also known as Henry Roche and New Futures Trading International Corporation (ponzi schemes, 2013) OSC 2013-03-18 Ponzi Schemes — judgment
CFTC v. Ronnie Gene Wilson (ponzi schemes, 2013) CFTC 2013-03-01 Ponzi Schemes $23m judgment
CFTC v. CME Group’s New York Mercantile Exchange and Two Former Employees (insider trading, 2013) CFTC 2013-02-22 Insider Trading — filed
CFTC v. Gelber Group (wash trading, 2013) CFTC 2013-02-09 Wash Trading $750k judgment
CFTC v. unnamed respondents (ponzi schemes, 2013) CFTC 2013-02-07 Ponzi Schemes $2.4m settled
CFTC v. The Royal Bank of Scotland plc and RBS Securities Japan Limited (benchmark submission rigging, 2013) CFTC 2013-02-07 Benchmark Submission Rigging , Price Manipulation +1 $325m judgment
FCA v. The Royal Bank of Scotland plc (benchmark submission rigging, 2013) FCA 2013-02-06 Benchmark Submission Rigging , Cash Vs Derivatives Schemes +2 — settled
CFTC v. unnamed respondents (ponzi schemes, 2013) CFTC 2013-01-29 Ponzi Schemes $1.5m settled