SEC v. Luis Martin-Caro Sanchez (2016)
Alleged — pending
These are allegations. SEC has filed an action; nothing in it has been proven, and the respondents have not been found liable. Everything described on this page is what the regulator alleges, not what a court has found. See our editorial policy.
Checked against the primary document on October 3, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.
In 2016, the Securities and Exchange Commission published a litigation release reporting that Luis Martin-Caro Sanchez, the subject of its earlier insider trading case over Potash Corporation trading, had been indicted for two counts of perjury and one of obstruction of justice. The release states no monetary relief.
The record
| Agency | SEC |
|---|---|
| Release number | LR-23591 |
| Date filed | 2016-07-05 |
| Status | filed |
| Asset class | equities |
| Criminal parallel | Yes: charged (Luis Martin-Caro Sanchez (indicted for perjury and obstruction concerning the SEC's investigation of the Potash trading, not for the trading itself)), U.S. District Court, Northern District of Illinois, 2016-06-30 |
| Defendants | Luis Martin-Caro Sanchez |
| Techniques |
What was ordered
- Civil penalty
- —
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- —
- Alleged gain
- —
What is alleged to have happened
the Securities and Exchange Commission announced this matter on July 5, 2016 as litigation release 23591. The respondent named is Luis Martin-Caro Sanchez (1 individual). A federal grand jury in Chicago indicted him on June 30, 2016 on two counts of perjury and one of obstruction of justice relating to the SEC's earlier investigation and civil case, in which the SEC had alleged a scheme around BHP Billiton's 2010 bid for Potash that netted more than $4.6 million. Authorities said they would seek extradition and no arraignment date had been set.
What this release announces is the perjury and obstruction indictment, not trading or tipping, so this library does not tag it as insider trading; the underlying civil case is a separate matter. No other technique fits, so it carries no technique tag.
For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.
Timeline
- 2016-07-05 Litigation release published
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.