Home / Cases / Pump and dump Pump and dump enforcement actions This library records 121 enforcement actions tagged pump and dump. A pump and dump is a scheme in which shares are accumulated cheaply, promoted with misleading claims to drive the price up, and then sold into the demand the promotion created, leaving later buyers with the loss.
Actions are listed newest first. Each row links to a case page carrying the regulator's own release and, where one was published, the complaint. For how this technique works and what statute it engages, read the pump and dump technique page.
Actions 100
Total penalties $28m
Median penalty $290k
Largest $26.4m
Criminal parallel 43% Action Agency Filed Penalty Status SEC v. Michael J. Forster (pump and dump, 2026) SEC 2026-07-15 — judgment SEC v. George John Drazenovic, CPA (pump and dump, 2026) SEC 2026-04-20 — judgment SEC v. Geoffrey Allen Wall (pump and dump, 2026) SEC 2026-04-09 — judgment SEC v. Canaccord Genuity LLC (marking the close, 2026) SEC 2026-03-06 — settled SEC v. Saeid Jaberian (pump and dump, 2026) SEC 2026-01-27 — judgment SEC v. George John Drazenovic (paid stock promotion, 2025) SEC 2025-12-19 — judgment SEC v. William A. Justice, Keith A. Rosenbaum, Brian D. Shibley, and Randell R. Torno (pump and dump, 2025) SEC 2025-07-10 — judgment SEC v. Benjamin Ballout and Mohamed Zayed (pump and dump, 2025) SEC 2025-06-20 $461k judgment SEC v. Ongkaruck Sripetch, et al. (pump and dump, 2025) SEC 2025-06-20 — dismissed SEC v. Saeid Jaberian (pump and dump, 2025) SEC 2025-04-17 — unknown SEC v. Airborne Wireless Network and others (pump and dump, 2025) SEC 2025-02-07 — judgment SEC v. SpeedRoute LLC (layering, 2025) SEC 2025-01-10 — settled SEC v. Ronald Bauer et al. (pump and dump, 2024) SEC 2024-12-19 — judgment SEC v. Minerco, Inc., Bobby Shumake Japhia, and Julius Makiri Jenge (custodianship shell hijacking, 2024) SEC 2024-10-09 — filed SEC v. Benjamin Ballout, Mohamed Zayed, and William Fielding (pump and dump, 2024) SEC 2024-09-23 — judgment SEC v. DiScala et al., (pump and dump, 2024) SEC 2024-09-20 — judgment SEC v. Drew Morgan Ciccarelli (pump and dump, 2024) SEC 2024-08-30 — judgment SEC v. Stephen Durland (pump and dump, 2024) SEC 2024-08-13 — judgment SEC v. Kevan Casey et al. (pump and dump, 2024) SEC 2024-08-09 — filed SEC v. Harmel S. Rayat, RenovaCare, Inc., Jatinder Bhogal (pump and dump, 2024) SEC 2024-02-27 — judgment SEC v. Jonathan Farber, Aarif Jamani, Brian Keasberry (paid stock promotion, 2024) SEC 2024-01-16 — filed SEC v. Marc E. Wexler (price manipulation, 2023) SEC 2023-12-05 — judgment SEC v. Andrew DeFrancesco, Marlio Mauricio Diaz Cardona, Carlos Felipe Rezk, Nicola Faukovic, and Catherine DeFrancesco (pump and dump, 2023) SEC 2023-11-29 $223k judgment SEC v. Philip Verges, James D. Tilton, Jr., Robert F. Malin, Linda Malin, and others (pump and dump, 2023) SEC 2023-09-26 — unknown SEC v. Andrew DeFrancesco, Marlio Mauricio Diaz Cardona, Carlos Felipe Rezk, Nikola Faukovic, and Catherine DeFrancesco (pump and dump, 2023) SEC 2023-07-07 — judgment SEC v. Brian Robert Sodi, et al. (newsletter scalping, 2023) SEC 2023-03-14 — judgment SEC v. Joseph R. Earle Jr, Barry D. Reagh, William Clayton, Francis T. Dudley, Steven E. Bryant, Upper Street Marketing, Inc. and Project Growth International, Inc. (boiler rooms, 2022) SEC 2022-12-05 — unknown SEC v. Arbitrade Ltd., et al. (pump and dump, 2022) SEC 2022-09-30 — unknown SEC v. Matthew Nicosia, William Reninger, Fabrizio Di Carlo, and Ronald Touchard (boiler rooms, 2022) SEC 2022-09-28 — filed CFTC v. Jimmy Gale Watson (paid stock promotion, 2022) CFTC 2022-07-18 $290k judgment SEC v. Domenic Calabrigo et al. (pump and dump, 2022) SEC 2022-04-19 — filed SEC v. Ronald Bauer et al. (pump and dump, 2022) SEC 2022-04-14 — filed SEC v. Francis Biller, et al. (pump and dump, 2022) SEC 2022-03-17 — unknown SEC v. Andrew T.E. Coldicutt (pump and dump, 2022) SEC 2022-03-01 — unknown SEC v. Global Wholehealth Partners Corp., Charles Strongo, Brian M. Volmer, Joshua Yafa, Jamie M. Yafa, and Empire Associates, Inc. (paid stock promotion, 2022) SEC 2022-02-17 — filed SEC v. Mark A. Miller, Saeid Jaberian and Christopher J. Rajkaran (pump and dump, 2021) SEC 2021-11-01 — filed SEC v. Charlie Abujudeh (paid stock promotion, 2021) SEC 2021-07-22 — unknown SEC v. Mark A. Miller (fake press releases, 2021) SEC 2021-06-21 — unknown SEC v. David N. Osegueda, et al. (pump and dump, 2021) SEC 2021-05-07 $400k judgment SEC v. Ubong Uboh and Tyler Crockett (pump and dump, 2021) SEC 2021-04-22 — filed CFTC v. Two Individuals (paid stock promotion, 2021) CFTC 2021-03-05 — filed SEC v. Anthony Thompson, Jr., et al. (paid stock promotion, 2020) SEC 2020-12-30 — judgment SEC v. Garrett M. O'Rourke and Michael J. Black (pump and dump, 2020) SEC 2020-11-30 — judgment SEC v. Drew Morgan Ciccarelli (pump and dump, 2020) SEC 2020-09-30 — filed SEC v. Milan K. Patel, Esq. (pump and dump, 2020) SEC 2020-08-14 — unknown SEC v. Mustafa David Sayid (pump and dump, 2020) SEC 2020-07-29 $160k judgment SEC v. Matthew Ledvina, Esq. (pump and dump, 2020) SEC 2020-06-22 — unknown SEC v. Jason C. Nielsen (pump and dump, 2020) SEC 2020-06-10 — filed SEC v. Barry Honig, et al. (pump and dump, 2020) SEC 2020-03-11 — judgment SEC v. Benjamin L. Bunker, Esq. (pump and dump, 2020) SEC 2020-01-23 — unknown SEC v. Luke Christopher Zouvas, Esq. (pump and dump, 2020) SEC 2020-01-07 — judgment SEC v. Ulrik Debo (custodianship shell hijacking, 2020) SEC 2020-01-03 — filed SEC v. David N. Osegueda, et al. (pump and dump, 2019) SEC 2019-11-06 — judgment SEC v. Brian Robert Sodi, et al. (newsletter scalping, 2019) SEC 2019-09-19 — settled SEC v. Vandham Securities Corp. (boiler rooms, 2019) SEC 2019-09-16 — settled SEC v. Jehu Hand, et al. (pump and dump, 2019) SEC 2019-08-16 — judgment SEC v. Beaufort Secs. Ltd. and Kyriacou. (pump and dump, 2019) SEC 2019-07-29 — judgment SEC v. Garrett M. O'Rourke and Michael J. Black (pump and dump, 2019) SEC 2019-07-19 — unknown SEC v. Jehu Hand, Esq. (pump and dump, 2019) SEC 2019-07-11 — unknown SEC v. Einstein Investments LLC (pump and dump, 2019) SEC 2019-06-05 — unknown SEC v. David N. Osegueda, Ishmail Calvin Ross, aka Calvin Ross, Zachary R. Logan, and Jessica Snyder, fka Jessica Gutierrez (pump and dump, 2019) SEC 2019-05-20 — filed SEC v. Andrew I. Farmer, Scott R. Sieck, Eddie D. Austin, Jr., Carolyn P. Austin, and John D. Brotherton (pump and dump, 2019) SEC 2019-05-17 — judgment SEC v. Wilson-Davis & Co., Inc. (paid stock promotion, 2019) SEC 2019-05-15 — settled SEC v. David M. Loflin (pump and dump, 2019) SEC 2019-04-22 — settled SEC v. Frank Morelli III and Louis Buonocore (pump and dump, 2019) SEC 2019-03-20 — dismissed SEC v. Jason McDiarmid, et al. (paid stock promotion, 2019) SEC 2019-02-12 — judgment SEC v. Anthony J. Thompson, Jr., et al. (paid stock promotion, 2019) SEC 2019-02-01 — settled SEC v. Cherubim Interests, Inc., PDX Partners, Inc., Victura Construction Group, Inc., and Patrick Jevon Johnson (pump and dump, 2018) SEC 2018-12-26 — unknown SEC v. NVC Fund LLC and Frank Ekejija (pump and dump, 2018) SEC 2018-12-07 — unknown SEC v. Mark E. Fisher, Esq. (fake press releases, 2018) SEC 2018-11-02 — judgment SEC v. John Madsen, Andalusian Resorts and others (fake press releases, 2018) SEC 2018-10-23 — judgment SEC v. Mark E. Fisher and Joseph F. Capuozzo (paid stock promotion, 2018) SEC 2018-10-22 — settled SEC v. Jeffre James and others (pump and dump, 2018) SEC 2018-10-09 — unknown SEC v. Jehu Hand and Antonio Katz (paid stock promotion, 2018) SEC 2018-09-28 — judgment SEC v. Barry C. Honig, et al. (pump and dump, 2018) SEC 2018-09-07 — filed SEC v. Gannon Giguiere et al. (paid stock promotion, 2018) SEC 2018-07-16 — filed SEC v. Pawel P. Dynkowski, et al. (pump and dump, 2018) SEC 2018-07-12 — judgment SEC v. Jehu Hand, et al. (pump and dump, 2018) SEC 2018-06-06 — unknown SEC v. Eddy U. Marin and Shane R. Spierdowis (paid stock promotion, 2018) SEC 2018-05-02 — settled SEC v. Aegis Capital Corporation (paid stock promotion, 2018) SEC 2018-03-28 — filed SEC v. Timary Delorme (pump and dump, 2018) SEC 2018-03-27 $50k settled SEC v. Beaufort Securities Ltd. and others (matched orders, 2018) SEC 2018-03-16 — filed SEC v. Andalusian Resorts and others (fake press releases, 2017) SEC 2017-10-30 — filed SEC v. Artemus Mayor (paid stock promotion, 2017) SEC 2017-10-26 — settled SEC v. James M. Schneider (pump and dump, 2017) SEC 2017-10-11 — filed SEC v. Jammin' Java Corp. et al. (pump and dump, 2017) SEC 2017-10-03 $26.4m appealed SEC v. Martin T. Cantu (fake press releases, 2017) SEC 2017-10-02 — unknown SEC v. Jason McDiarmid, et al. (boiler rooms, 2017) SEC 2017-09-29 — unknown SEC v. Joe Yiu Cheung ( and Dylon De Lu Zhang) (paid stock promotion, 2017) SEC 2017-08-02 — settled SEC v. Jeffrey D. Martin, et al. (custodianship shell hijacking, 2017) SEC 2017-08-01 — judgment SEC v. Carrillo and Luis J. (paid stock promotion, 2017) SEC 2017-07-26 — judgment SEC v. Huettel and Wade D., Esq. (paid stock promotion, 2017) SEC 2017-07-26 — judgment SEC v. Andrew Farmer, et al. (pump and dump, 2017) SEC 2017-07-24 — judgment SEC v. Jehu Hand and Antonio Katz (paid stock promotion, 2017) SEC 2017-06-15 — filed SEC v. Mustafa David Sayid (pump and dump, 2017) SEC 2017-04-13 — filed SEC v. Michael Affa, et al. (pump and dump, 2017) SEC 2017-02-07 — judgment SEC v. Richard Weed et al. (paid stock promotion, 2016) SEC 2016-10-04 — judgment SEC v. Marcus A. Luna, et al. (boiler rooms, 2016) SEC 2016-09-30 — filed SEC v. Jason A. Wallace (boiler rooms, 2016) SEC 2016-09-27 — filed SEC v. Richard Weed, Esq. (pump and dump, 2016) SEC 2016-09-13 — unknown
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