SEC v. Ronald Bauer and seven others (pump and dump, 2024)

Judgment entered

✓ Checked against the primary document on October 2, 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.

Report an error in this record (sec-ronald-bauer-et-al-pump-and-dump-2024) by email

In December 2024 the Securities and Exchange Commission announced a final consent judgment in the Southern District of New York against Petar Dimitrov Mihaylov, the first in its case against eight overseas defendants over a 2006 to 2020 scheme that generated more than $145 million from unlawful sales of at least 17 microcap stocks. Mihaylov must pay $1,011,600 in disgorgement, $304,466 in interest and a $1,011,600 penalty, and is barred from penny stocks and from serving as a public company officer or director.

The record

What was ordered

Civil penalty

$1m

Disgorgement

$1m

Prejudgment interest

$304k

Total relief

$2.3m

Alleged gain

$145m

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 December 19, 2024 as release LR-26199. The respondents named are Ronald Bauer, Craig James Auringer, Adam Christopher Kambeitz, Alon Friedlander, Massimiliano Pozzoni, Daniel Mark Ferris, Petar Dmitrov Mihaylov and David Sidoo (8 individuals, 0 entities). The action was brought in the U.S. District Court, Southern District of New York.

This library tags the matter as pump and dump, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

The conduct is recorded against equities.

The relief recorded in our data is a civil penalty of $1,011,600, disgorgement of $1,011,600, prejudgment interest of $304,466, all against Mihaylov. Penalty and disgorgement are distinct: disgorgement returns the gain, while the penalty is punitive. We store them separately so that aggregate figures across the library are not double-counted.

Non-monetary relief recorded: conduct-based injunction, penny stock bar.

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.

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.

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

Timeline

1. 2024-12-19 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.

• SEC litigation release

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.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

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

Record added September 10, 2026. submit a correction.