Market Manipulation. Search

Pump and dump enforcement actions

This library records 125 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
25
Total penalties
$1.5m
Median penalty
$150k
Largest
$910k
Criminal parallel
44%
Action Agency Filed Penalty Status
SEC v. Edward F. Panos, et al. (pump and dump, 2016) SEC 2016-08-25 — unknown
SEC v. Richard Weed et al. (pump and dump, 2016) SEC 2016-08-23 — unknown
SEC v. Diane D. Dalmy, Esq. (pump and dump, 2016) SEC 2016-07-29 — dismissed
SEC v. Mitchell Brown (pump and dump, 2016) SEC 2016-06-21 — judgment
SEC v. Andrew K. Proctor, et al. (pump and dump, 2016) SEC 2016-06-14 $910k judgment
SEC v. Dynkowski, et al. (pump and dump, 2016) SEC 2016-06-09 $83.2k judgment
SEC v. Spongetech Delivery Systems, Inc., et al. (pump and dump, 2016) SEC 2016-06-02 $100k judgment
SEC v. Albert Fried & Company, LLC (paid stock promotion, 2016) SEC 2016-06-01 $300k settled
SEC v. Asher Z. Zwebner and Luke C. Zouvas, et al. (paid stock promotion, 2016) SEC 2016-04-26 — unknown
SEC v. Efim Aksanov (pump and dump, 2016) SEC 2016-04-12 — judgment
SEC v. Randy A. Hamdan and Oracle Consultants, LLC (fake press releases, 2016) SEC 2016-02-17 $150k judgment
SEC v. Jehu Hand and Antonio Katz (paid stock promotion, 2015) SEC 2015-12-11 — filed
SEC v. Andrew Farmer, et al. (pump and dump, 2015) SEC 2015-10-09 — unknown
SEC v. Spencer Pharmaceutical Inc., Jean-François Amyot, Maximilien Arella, Ian Morrice, IAB Media Inc., and Hilbroy Advisory Inc. (pump and dump, 2015) SEC 2015-10-01 — judgment
SEC v. Marco Babini et al. (paid stock promotion, 2015) SEC 2015-09-14 — judgment
SEC v. unnamed respondents (paid stock promotion, 2015) SEC 2015-08-10 — judgment
SEC v. unnamed respondents (paid stock promotion, 2015) SEC 2015-07-14 — filed
SEC v. Gregg R. Mulholland (pump and dump, 2015) SEC 2015-06-25 — filed
SEC v. Daniel P. McKelvey, et al. (pump and dump, 2015) SEC 2015-04-16 — settled
SEC v. David Craven et al. (pump and dump, 2015) SEC 2015-04-01 — filed
SEC v. David Craven et al. (pump and dump, 2015) SEC 2015-03-12 — unknown
SEC v. Gary S. Williky (insider trading, 2015) SEC 2015-03-02 — settled
SEC v. Joseph A. Noel (pump and dump, 2015) SEC 2015-02-26 — judgment
SEC v. Oppenheimer & Co. Inc. (pump and dump, 2015) SEC 2015-01-27 — filed
SEC v. Jetronic Industries, Inc. ( and others (custodianship shell hijacking, 2012) SEC 2012-06-25 — dismissed