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. Yasuna Murakami and Avi Chiat (ponzi schemes, 2017) SEC 2017-05-22 Ponzi Schemes $185k settled
ASIC v. Macquarie Bank Limited (2017) ASIC 2017-05-19 — settled
SEC v. Robert W. Murray (price manipulation, 2017) SEC 2017-05-19 EDGAR Filing Fraud , Price Manipulation +1 — settled
OSC v. Jorge Neher (2017) OSC 2017-05-12 — settled
SEC v. Emerald Isle Exploration, Ltd. and Samuell Eads and Lloyd C. Brewer (undisclosed control blocks, 2017) SEC 2017-05-12 Undisclosed Control Blocks $30k settled
SEC v. Walter C. Little and Andrew M. Berke (insider trading, 2017) SEC 2017-05-11 Insider Trading — settled
SEC v. Iat Hong, et al. (hack to trade, 2017) SEC 2017-05-09 Hack To Trade $5.9m judgment
SEC v. Med-X, Inc. (Regulation A suspension, 2017) SEC 2017-05-08 — dismissed
OSC v. Dennis Wing (2017) OSC 2017-05-04 — settled
SEC v. William R. Schantz III and Verto Capital Management LLC (ponzi schemes, 2017) SEC 2017-05-04 Ponzi Schemes $600k settled
SEC v. David Michael Burke (2017) SEC 2017-05-02 — settled
SEC v. Mark J. Varacchi and Sentinel Growth Fund Management (ponzi schemes, 2017) SEC 2017-05-01 Ponzi Schemes — judgment
Former Perth managing director sentenced to 18 months' jail for insider trading (ASIC, 2017) ASIC 2017-04-28 Insider Trading — judgment
SEC v. Demitrios Hallas (2017) SEC 2017-04-26 — judgment
SEC v. Wilson-Davis & Company, Inc. (naked short selling debate, 2017) SEC 2017-04-26 Naked Short Selling Debate $75k settled
AMF France v. X, A and B (insider trading, 2017) AMF (France) 2017-04-21 Insider Trading — judgment
SEC v. Kent P. Watts, et al. (unregistered distributions, 2017) SEC 2017-04-21 Unregistered Distributions — filed
AMF France v. A and B (insider trading, 2017) AMF (France) 2017-04-19 Insider Trading — judgment
SEC v. Curtis A. Peterson (ponzi schemes, 2017) SEC 2017-04-19 Ponzi Schemes $7.5k judgment
SEC v. Charles L. Hill, Jr. (insider trading, 2017) SEC 2017-04-18 Insider Trading — dismissed
SEC v. Christopher R. Esposito, et al. (undisclosed control blocks, 2017) SEC 2017-04-14 Undisclosed Control Blocks , Unregistered Distributions $775k judgment
SEC v. Mustafa David Sayid, Norman Reynolds and Kevin Jasper (pump and dump, 2017) SEC 2017-04-13 Pump And Dump $235k judgment
SEC v. Ryan Gilbertson, et al. (undisclosed control blocks, 2017) SEC 2017-04-13 Undisclosed Control Blocks — filed
OSC v. Benedict Cheng and others (insider trading, 2017) OSC 2017-04-12 Insider Trading — settled
SEC v. Lidingo Holdings, LLC, et al., CSIR Group, LLC, et al. (paid stock promotion, 2017) SEC 2017-04-12 Paid Stock Promotion — settled
SEC v. Craig Keolanui (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Edward Borrelli and Dunedin, Inc. (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion $30k settled
SEC v. Galena Biopharma, Inc. and Mark J. Ahn (unregistered distributions, 2017) SEC 2017-04-10 Unregistered Distributions $800k settled
SEC v. ImmunoCellular Therapeutics, Ltd. (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Joel Corenman (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion $25k settled
SEC v. Lion Biotechnologies, Inc. (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion $100k settled
SEC v. Michael A. McCarthy (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion $75k settled
SEC v. Stephen Ramey (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion $24k settled
SEC v. Lawrence F. Cluff, Jr. and Roger E. Shaoul (insider trading, 2017) SEC 2017-04-06 Insider Trading $925k settled
ASIC v. Steven Robert Noske (insider trading, 2017) ASIC 2017-04-03 Insider Trading — judgment
SEC v. Vlad B. Spivak, et al. (insider trading, 2017) SEC 2017-04-03 Insider Trading $334k judgment
CFTC v. Stephen Gola and Jonathan Brims (spoofing, 2017) CFTC 2017-03-30 Spoofing $550k judgment
SEC v. LottoNet Operating Corp., et al. (boiler rooms, 2017) SEC 2017-03-27 Boiler Rooms $473k judgment
SEC v. Ariel Darvasi and Amir Waldman (insider trading, 2017) SEC 2017-03-24 Insider Trading $1.5m settled
SEC v. Nino Coppero del Valle et al. (insider trading, 2017) SEC 2017-03-24 Insider Trading $113k judgment
SEC v. William Quigley (2017) SEC 2017-03-24 — settled
SEC v. Christopher Ludwig (insider trading, 2017) SEC 2017-03-23 Insider Trading $16.4k settled
SEC v. Infeed Medica Corp. (undisclosed control blocks, 2017) SEC 2017-03-23 Undisclosed Control Blocks — judgment
SEC v. Sheldon Rose and MKJJ Consulting LLC (reverse merger schemes, 2017) SEC 2017-03-23 Reverse Merger Schemes , Undisclosed Control Blocks — settled
SEC v. Steven A. Hartung (insider trading, 2017) SEC 2017-03-23 Insider Trading $59.7k settled
SEC v. Michael J. Maciocio and David P. Hobson (insider trading, 2017) SEC 2017-03-20 Insider Trading — judgment
SEC v. Patrick Churchville and ClearPath Wealth Management (ponzi schemes, 2017) SEC 2017-03-17 Ponzi Schemes $225k judgment
SEC v. Todd David Alpert (insider trading, 2017) SEC 2017-03-15 Insider Trading $43.9k settled
SEC v. Nima Hedayati (insider trading, 2017) SEC 2017-03-14 Insider Trading $43k settled
SEC v. Lek Securities Corporation, Samuel Lek, Avalon FA Ltd, Nathan Fayyer and Sergey Pustelnik (layering, 2017) SEC 2017-03-10 Layering — judgment
SEC v. Arcturus Corporation, et al. (unregistered distributions, 2017) SEC 2017-03-03 Unregistered Distributions — judgment
SEC v. Thomas D. Melvin, Jr., et al. (insider trading, 2017) SEC 2017-03-03 Insider Trading — judgment
OSC v. Ayaz Dhanani (Also known as Azim Virani, Michael Lee, Alex Nebris, Paul Dhanani, Samuel Ramos, and Rahim Jiwa) (2017) OSC 2017-03-01 — judgment
SEC v. One or More Unknown Traders in the Securities of Fortress Investment Group, LLC (insider trading, 2017) SEC 2017-02-28 Insider Trading — filed
SEC v. FX & Beyond Corporation and Steve H. Karroum (ponzi schemes, 2017) SEC 2017-02-16 Ponzi Schemes $512k judgment
CFTC v. Ramirez, Gold Chasers and Royal Leisure International (ponzi schemes, 2017) CFTC 2017-02-14 Ponzi Schemes $8.2m judgment
SEC v. Patrick O. Howard and Optimal Economics Capital Partners (ponzi schemes, 2017) SEC 2017-02-14 Ponzi Schemes — settled
SEC v. Sidoti & Company, LLC (2017) SEC 2017-02-13 $100k settled
SEC v. Yu-Cheng Lin (a.k.a. Believe Lin) (insider trading, 2017) SEC 2017-02-13 Insider Trading $5.4m judgment
SEC v. Alan Barry Staples (insider trading, 2017) SEC 2017-02-10 Insider Trading $15.2k settled
SEC v. Shaohua (Michael) Yin, et al. (insider trading, 2017) SEC 2017-02-10 Insider Trading $39.5m settled
SEC v. Raymond H. Barton (fake press releases, 2017) SEC 2017-02-09 Fake Press Releases — judgment
SEC v. William G. Goode (unregistered distributions, 2017) SEC 2017-02-09 Unregistered Distributions — judgment
SEC v. Oxford City Football Club, Inc. (boiler rooms, 2017) SEC 2017-02-08 Boiler Rooms — judgment
SEC v. Oxford City Football Club, Inc., et al. (boiler rooms, 2017) SEC 2017-02-08 Boiler Rooms — judgment
SEC v. Michael Affa and four others (Amogear pump and dump, 2017) SEC 2017-02-07 Pump And Dump — judgment
SEC v. Olde Monmouth Stock Transfer Co., Inc. and Matthew J. Troster (reverse merger schemes, 2017) SEC 2017-02-07 Reverse Merger Schemes , Unregistered Distributions $100k settled
CFTC v. The Royal Bank of Scotland (benchmark submission rigging, 2017) CFTC 2017-02-03 Benchmark Submission Rigging , Price Manipulation $85m judgment
SEC v. Mark J. Varacchi and Sentinel Growth Fund Management (ponzi schemes, 2017) SEC 2017-02-02 Ponzi Schemes — settled
CFTC v. Klatch, Heim and Assurance Capital Management (2017) CFTC 2017-01-27 $1.8m judgment
SEC v. Herman Ronnie Young, Jr. d/b/a Race Cycler (ponzi schemes, 2017) SEC 2017-01-26 Ponzi Schemes — settled
SEC v. Palestra Capital Management LLC (rule 105 offering shorts, 2017) SEC 2017-01-26 Rule 105 Offering Shorts $80k settled
SEC v. Donald P. Jones, CPA (insider trading, 2017) SEC 2017-01-23 Insider Trading $39.1k settled
SEC v. George N. Krinos (2017) SEC 2017-01-23 — judgment
CFTC v. Citigroup Global Markets Inc. (spoofing, 2017) CFTC 2017-01-19 Spoofing $25m judgment
SEC v. Cort Poyner et al. (price manipulation, 2017) SEC 2017-01-19 Price Manipulation — judgment
SEC v. Eytan Bar (2017) SEC 2017-01-18 $30k settled
SEC v. MDC Partners Inc. (2017) SEC 2017-01-18 $1.5m settled
SEC v. Kenneth Mack and Bryan McMillan (2017) SEC 2017-01-18 $65k settled
SEC v. Robin G. Charlet, Steven W. Sparks, Gregory J. Tuthill and Kirk D. Porter (unregistered distributions, 2017) SEC 2017-01-13 Unregistered Distributions $30k settled
SEC v. Gregory W. Gray, Jr., Archipel Capital and BIM Management (ponzi schemes, 2017) SEC 2017-01-12 Ponzi Schemes — settled
SEC v. ITG Inc. (2017) SEC 2017-01-12 $7.5m settled
OSC v. 2002 Concepts Inc. and others (ponzi schemes, 2017) OSC 2017-01-10 Ponzi Schemes — judgment
SEC v. Douglas Furth (matched orders, 2017) SEC 2017-01-10 Matched Orders — judgment
AMF France v. 3Red Trading LLC and A (layering, 2016) AMF (France) 2016-12-28 Layering — judgment
SEC v. Iat Hong, et al. (hack to trade, 2016) SEC 2016-12-27 Hack To Trade $5.9m judgment
CFTC v. Goldman Sachs (benchmark submission rigging, 2016) CFTC 2016-12-21 Benchmark Submission Rigging , Price Manipulation $120m judgment
SEC v. Naris Chamroonrat and Adam L. Plumer (2016) SEC 2016-12-21 — settled
SEC v. Chamroonrat, Plumer, Avnon, Armon and G Six Trading (2017) SEC 2016-12-21 — filed
CFTC v. Igor B. Oystacher and 3Red Trading LLC (spoofing, 2016) CFTC 2016-12-20 Spoofing $2.5m judgment
SEC v. Edward F. Panos, et al. (shell factories, 2016) SEC 2016-12-20 Shell Factories , Undisclosed Control Blocks $1.4m judgment
SEC v. Anthony B. Kerrigone (naked short selling debate, 2016) SEC 2016-12-16 Naked Short Selling Debate $50k settled
SEC v. Byron B. Barkley and Paul N. Davis (naked short selling debate, 2016) SEC 2016-12-16 Naked Short Selling Debate $75k settled
SEC v. Empire Stock Transfer, Inc. and Matthew J. Blevins (unregistered distributions, 2016) SEC 2016-12-16 Unregistered Distributions $170k settled
SEC v. Gary L. McDuff (ponzi schemes, 2016) SEC 2016-12-16 Ponzi Schemes — dismissed
SEC v. Jo Ann Myers and Hollis W. Pickett, Jr. (insider trading, 2016) SEC 2016-12-16 Insider Trading $49.1k settled
SEC v. Michael J. Muellerleile, Esq. and M2 Law Professional Corp. (shell factories, 2016) SEC 2016-12-16 Shell Factories , Undisclosed Control Blocks $70k settled
SEC v. Wilson-Davis & Company, Inc. (naked short selling debate, 2016) SEC 2016-12-16 Naked Short Selling Debate $75k settled
CFTC v. Yumin Li and Kering Capital Ltd (matched orders, 2016) CFTC 2016-12-14 Matched Orders $901k judgment
ASIC v. Hochtief AG (insider trading, 2016) ASIC 2016-12-08 Insider Trading — judgment