SEC v. Charles M. Raspa (price manipulation, 2013)

Settled

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In November 2013 the SEC settled an administrative proceeding barring Charles Raspa, a former registered representative at Joseph Stevens & Company, from the securities industry and from penny stock offerings after his New York conviction for enterprise corruption, larceny and securities fraud, for which he was serving 3.5 to 10.5 years. The order recites that traders there manipulated prices of stocks that Raspa supplied before selling them to customers.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Securities and Exchange Commission announced this matter on November 5, 2013 as release 34-70813. The respondents named are Charles M. Raspa (1 individual, 0 entities).

The order rests on the criminal conviction and the indictment's description of traders pushing up prices of over-the-counter stocks before selling to retail customers who were not told. It is a follow-on bar, with no new findings of its own. This library tags the matter as price manipulation.

The conduct is recorded against bonds and equities, with OTC identified in the release.

Non-monetary relief recorded: registration bar.

The release references a parallel criminal proceeding. Where a criminal case exists, the civil and criminal outcomes are recorded separately, because they resolve on different standards of proof.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Price manipulation — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2013-11-05 Administrative proceeding instituted (findings)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC order

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.