Market manipulation enforcement actions filed in 2022

This library records 492 market manipulation enforcement actions filed in 2022, brought by AMF-FR, ASIC, CFTC, OSC, SEBI, SEC.

Counts by year reflect when an action was filed or announced, not when the underlying conduct occurred — those are often years apart. Compare across years with care: a single multi-defendant sweep can dominate a year's count.

Actions: 100
Total penalties: $996m
Median penalty: $470k
Largest: $866m
Criminal parallel: 12%

Action	Agency	Filed	Technique	Penalty	Status
ASIC v. Gabriel Govinda (price manipulation, 2022)	ASIC	2022-06-07	Price Manipulation , Pump And Dump +1	—	judgment
SEBI v. Virendra Pratap Singh and others (India Infoline front-running through mule accounts, 2022)	SEBI (India)	2022-06-03	Front Running	—	judgment
SEBI v. Vaibhav Dhadda and others (Fidelity funds front-running, 2022)	SEBI (India)	2022-06-03	Front Running	—	judgment
SEBI v. Malay Bhow and others (bulk SMS tips, South Indian Bank options, 2022)	SEBI (India)	2022-06-03	False Rumors	—	judgment
SEC v. Mohammed Pithapurwala, Ammar Kutiyanawalla, and Alifiya Kutiyanawalla (insider trading, 2022)	SEC	2022-06-01	Insider Trading	$598k	judgment
SEBI v. Global Securities Limited and others (sham preferential allotment and price rigging, 2022)	SEBI (India)	2022-05-31	Price Manipulation	—	judgment
SEBI v. Commex Technology Limited and others (GDR issue disclosures, 2022)	SEBI (India)	2022-05-31	Misleading Issuer Disclosure	—	judgment
SEBI v. Midvalley Entertainment Limited and others (IPO fraud and price movement, 2022)	SEBI (India)	2022-05-31	Misleading Issuer Disclosure , Price Manipulation	—	judgment
SEBI v. Madhu Chanda and others (Sterling Group front-running accounts, 2022)	SEBI (India)	2022-05-31	Front Running	—	judgment
SEBI v. Manish Chaturvedi and others (Sterling Group front-running, 2022)	SEBI (India)	2022-05-31	Front Running	—	judgment
SEBI v. Teledata Technology Solutions Ltd. and others (GDR issue, 2022)	SEBI (India)	2022-05-31	Misleading Issuer Disclosure	—	judgment
SEBI v. Coral Hub Limited and others (inflated financial results, 2022)	SEBI (India)	2022-05-31	Misleading Issuer Disclosure	—	judgment
SEBI v. Arif Gulam Mustufa Shaikh and others (Shree Global Tradefin price rise, 2022)	SEBI (India)	2022-05-31	Matched Orders , Price Manipulation	—	judgment
SEBI v. Sudar Industries Limited and others (IPO proceeds diversion, 2022)	SEBI (India)	2022-05-31	Misleading Issuer Disclosure	—	judgment
SEBI v. Ashlesh Gunvantibhai Shah and others (Cupid Trades and Finance synchronized trades, 2022)	SEBI (India)	2022-05-31	Matched Orders	—	dismissed
SEBI v. Religare Enterprises Ltd. and Religare Finvest Ltd. (settlement, fund diversion, 2022)	SEBI (India)	2022-05-31	Misleading Issuer Disclosure	—	settled
SEBI v. S. Giridharan and others (GDR issue, Edserv Softsystems, 2022)	SEBI (India)	2022-05-31		—	judgment
SEBI v. K. Ramaswamy (warrant conversion, Camson Bio Technologies, 2022)	SEBI (India)	2022-05-31	Misleading Issuer Disclosure	—	dismissed
SEBI v. Dhirendra Kumar and others (warrant conversion round-tripping, Camson Bio Technologies, 2022)	SEBI (India)	2022-05-31	Misleading Issuer Disclosure	—	judgment
SEBI v. Pankaj Sharma (settlement, Religare Finvest director, 2022)	SEBI (India)	2022-05-31		—	settled
SEBI v. Hamraj Fashions Consultants Private Limited (preferential allotment, Secunderabad Healthcare, 2022)	SEBI (India)	2022-05-31		—	dismissed
SEBI v. Sushiladevi N. Didwania and others (Finalysis Credit and Guarantee review, 2022)	SEBI (India)	2022-05-27	Matched Orders	—	dismissed
SEBI v. Siddharth Dinesh Mehta (Religare Enterprises settlement, 2022)	SEBI (India)	2022-05-27	Insider Trading	—	settled
SEBI v. Dilipkumar V. Lakhi and Manish G. Lakhi (Religare Enterprises settlement, 2022)	SEBI (India)	2022-05-27	Insider Trading	—	settled
SEBI v. Sagar Kadam and others (Finalysis Credit and Guarantee penalties, 2022)	SEBI (India)	2022-05-27	Matched Orders	—	judgment
SEBI v. Gandiv Investment Pvt. Ltd. and others (Ponni Sugars (Erode) price rigging, 2022)	SEBI (India)	2022-05-27	Price Manipulation	—	judgment
SEBI v. Rainbow Papers Ltd. and others (GDR issue disclosures, 2022)	SEBI (India)	2022-05-27	Misleading Issuer Disclosure	—	judgment
SEBI v. GRD Securities Limited and Berkeley Securities Limited (Arcotech trading, 2022)	SEBI (India)	2022-05-27	Price Manipulation	—	dismissed
SEC v. Hugues Pierre Joublin (insider trading, 2022)	SEC	2022-05-27	Insider Trading	—	settled
SEBI v. Tirupati Fincorp Ltd. (preferential issue proceeds, 2022)	SEBI (India)	2022-05-27	Misleading Issuer Disclosure	—	judgment
SEBI v. MPF Systems Limited and others (shell company financial statements, 2022)	SEBI (India)	2022-05-26	Misleading Issuer Disclosure	—	judgment
SEBI v. Southern Ispat and Energy Ltd. and others (GDR issue disclosures, 2022)	SEBI (India)	2022-05-26	Misleading Issuer Disclosure	—	judgment
SEBI v. Birla Cotsyn (India) Ltd. and others (GDR issue pledge scheme, 2022)	SEBI (India)	2022-05-25	Misleading Issuer Disclosure	—	judgment
SEC v. Andrew M. Middlebrooks, et al. (2022)	SEC	2022-05-25		—	filed
CFTC v. Glencore International A.G., Glencore Ltd. and Chemoil Corporation (price manipulation, 2022)	CFTC	2022-05-24	Price Manipulation	$866m	settled
SEBI v. Ethan Constructions Private Limited (Allied Computers International price rigging, 2022)	SEBI (India)	2022-05-24	Price Manipulation	—	judgment
SEC v. Frank B. Glassner (insider trading, 2022)	SEC	2022-05-24	Insider Trading	—	settled
SEBI v. Bhanuprasad Dipakkumar Trivedi (IPO share cornering, IDFC and Sasken, 2022)	SEBI (India)	2022-05-23	Cornering	—	judgment
SEBI v. Sanjay Jalan and others (Le Waterina Resorts and Hotels price rigging, 2022)	SEBI (India)	2022-05-20	Price Manipulation	—	judgment
CFTC v. Sam Ikkurty, Ravishankar Avadhanam and Jafia LLC (2022)	CFTC	2022-05-19		$111m	judgment
SEC v. Wynn Charlebois et al. (ponzi schemes, 2022)	SEC	2022-05-19	Ponzi Schemes	—	filed
SEBI v. Best Healthcare Pvt. Ltd. and others (Fortis Healthcare fund diversion, 2022)	SEBI (India)	2022-05-18	Misleading Issuer Disclosure	—	judgment
SEC v. Jillian Sidoti (undisclosed control blocks, 2022)	SEC	2022-05-17	Undisclosed Control Blocks	$22k	judgment
CFTC v. Long Island Resident and His Firm (ponzi schemes, 2022)	CFTC	2022-05-13	Ponzi Schemes	—	filed
SEBI v. Urja Global Limited and others (false Nippon Shinyaku announcement, 2022)	SEBI (India)	2022-05-13	Misleading Issuer Disclosure	—	judgment
SEBI v. Bharat Jayantilal Patel and others (Garware Polyester synchronized trades, 2022)	SEBI (India)	2022-05-12	Matched Orders	—	dismissed
CFTC v. Eshaq M. Nawabi, Nawabi Enterprise and Hyperion Consulting Inc. (ponzi schemes, 2022)	CFTC	2022-05-10	Ponzi Schemes	$4.5m	settled
SEBI v. Adamina Traders Pvt. Ltd. (Secunderabad Healthcare price rise, 2022)	SEBI (India)	2022-05-10	Price Manipulation	—	judgment
SEC v. Manuel A. Romero (ponzi schemes, 2022)	SEC	2022-05-10	Ponzi Schemes	$50k	judgment
SEC v. Sepehr Sarshar (insider trading, 2022)	SEC	2022-05-09	Insider Trading	$56.2k	judgment
SEC v. TKO Farms, Inc., Agravitae, Inc., Kenneth Owen and others (undisclosed control blocks, 2022)	SEC	2022-05-09	Undisclosed Control Blocks	—	filed
AMF France v. Nyenburgh Holding B.V. and others (spoofing, 2022)	AMF (France)	2022-05-06	Spoofing	—	judgment
SEBI v. Adamina Traders Pvt. Ltd. and others (Shantanu Sheorey Aquakult price rigging, 2022)	SEBI (India)	2022-05-06	Price Manipulation	—	judgment
SEC v. Derek J. Slattery and TradeSmart Software RIC Corporation (2022)	SEC	2022-05-05		$1.1m	judgment
SEC v. Mark Marchi (ponzi schemes, 2022)	SEC	2022-05-05	Ponzi Schemes	—	settled
SEBI v. Rajinder Singh (MPS Infotecnics GDR scheme, 2022)	SEBI (India)	2022-05-04	Misleading Issuer Disclosure	—	judgment
SEC v. BTIG, LLC (naked short selling debate, 2022)	SEC	2022-05-03	Naked Short Selling Debate	$315k	judgment
SEC v. Balasubrahmanya Kuchibhotla (insider trading, 2022)	SEC	2022-05-02	Insider Trading	$586k	settled
SEC v. Maplelane Capital LLC (naked short selling debate, 2022)	SEC	2022-05-02	Naked Short Selling Debate	$250k	settled
SEBI v. Finquest Securities Pvt. Ltd. (intermediary enquiry, Crest Ventures, 2022)	SEBI (India)	2022-04-29	Matched Orders	—	dismissed
SEBI v. Bharat Jayantilal Patel and others (synchronised trades, Super Sales India, 2022)	SEBI (India)	2022-04-29	Matched Orders , Wash Trading	—	judgment
SEBI v. Aventis Biofeeds Private Limited and others (closing-session price ramp, Ruchi Soya, 2022)	SEBI (India)	2022-04-29	Marking The Close , Settlement Price Manipulation	—	judgment
SEBI v. Urmila Kanoria and others (Godfrey Phillips India insider trading, 2022)	SEBI (India)	2022-04-29	Insider Trading	—	dismissed
SEBI v. Bhavesh Gadhavi (Sterling Group front-running, 2022)	SEBI (India)	2022-04-29	Front Running	—	judgment
SEBI v. Amitkumar Rameshchandra Rana (Shree Global Tradefin self-trades, 2022)	SEBI (India)	2022-04-29	Wash Trading	—	dismissed
SEBI v. Vishal Vijay Shah (Sterling Group front-running broker, 2022)	SEBI (India)	2022-04-29	Front Running	—	judgment
SEBI v. RDB Rasayans Limited and Shanti Lal Baid (IPO proceeds and prospectus, 2022)	SEBI (India)	2022-04-29	Misleading Issuer Disclosure	—	dismissed
SEBI v. Aster Silicates Ltd. and others (IPO proceeds diversion, 2022)	SEBI (India)	2022-04-29	Misleading Issuer Disclosure	—	judgment
SEBI v. PACE Stock Broking Services Pvt. Ltd. (NSE co-location secondary server, 2022)	SEBI (India)	2022-04-29		—	judgment
SEBI v. Esteem Bio Organic Food Processing Ltd. and others (IPO funding scheme, 2022)	SEBI (India)	2022-04-28	Misleading Issuer Disclosure , Price Manipulation	—	judgment
SEBI v. K Venkatraman (reversal trades, Coromandel Fertilizers, 2022)	SEBI (India)	2022-04-28	Matched Orders , Wash Trading	—	dismissed
SEBI v. Heena Mukesh Tolia and others (price ramping in an illiquid scrip, Viaan Industries, 2022)	SEBI (India)	2022-04-28	Price Manipulation , Matched Orders	—	judgment
SEBI v. Anvita Trading Company Private Limited (preferential allotment, Secunderabad Healthcare, 2022)	SEBI (India)	2022-04-28		—	dismissed
SEBI v. AmrapaliAadya Trading and Investment Pvt. Ltd. and others (broker client-fund diversion, 2022)	SEBI (India)	2022-04-28		—	judgment
AMF France v. Dylan Dariah (false or misleading information, 2022)	AMF (France)	2022-04-27		—	settled
OSC v. Christopher Uitvlugt (ponzi schemes, 2022)	OSC	2022-04-27	Ponzi Schemes	—	judgment
SEBI v. Jyoti Devi and others (synchronised and reversal trades, Swan Energy, 2022)	SEBI (India)	2022-04-27	Matched Orders , Wash Trading	—	judgment
SEBI v. Vipul Pannalal Shah and H K Stock Services Private Limited (small orders above last price, Coral Hub, 2022)	SEBI (India)	2022-04-27	Price Manipulation , Matched Orders	—	judgment
SEBI v. Finquest Securities Pvt. Ltd. and Shailesh Shah Securities Pvt. Ltd. (broker case, Crest Ventures, 2022)	SEBI (India)	2022-04-27	Matched Orders , Wash Trading	—	dismissed
SEC v. American Equities, Inc., American Eagle Mortgage Management, LLC, Ross C. Miles and Maureen T. Wile (ponzi schemes, 2022)	SEC	2022-04-27	Ponzi Schemes	—	settled
SEC v. Wealth Plus, Inc. (unregistered distributions, 2022)	SEC	2022-04-27	Unregistered Distributions	$30k	settled
SEBI v. SIC Stock and Services Pvt Ltd (broker, self-trades, Mefcom Agro Industries, 2022)	SEBI (India)	2022-04-26	Wash Trading , Price Manipulation	—	dismissed
SEC v. Bernard L. Compton (insider trading, 2022)	SEC	2022-04-22	Insider Trading	$1.9m	judgment
SEBI v. Uma Karthikeyan (GDR issue, Sanraa Media, 2022)	SEBI (India)	2022-04-21	Misleading Issuer Disclosure	—	judgment
SEC v. Moshe Strugano and Rinat Gazit (insider trading, 2022)	SEC	2022-04-20	Insider Trading	—	filed
SEBI v. RHC Holding Private Limited, Malvinder Mohan Singh, Shivinder Mohan Singh and others (diversion of funds, Fortis Healthcare, 2022)	SEBI (India)	2022-04-19	Misleading Issuer Disclosure	—	judgment
SEC v. Domenic Calabrigo, Curtis Lehner, Courtney Vasseur and Hasan Sario (pump and dump, 2022)	SEC	2022-04-19	Pump And Dump , Undisclosed Control Blocks	—	filed
SEC v. The Legal Funding Group of Georgia, LLC and Benjamin S. Eichholz (unregistered distributions, 2022)	SEC	2022-04-19	Unregistered Distributions	$50k	settled
SEC v. Carl Iberger and Timothy Iberger (insider trading, 2022)	SEC	2022-04-15	Insider Trading	$138k	settled
SEC v. Damon Elliott, et al. (ponzi schemes, 2022)	SEC	2022-04-15	Ponzi Schemes	$5.4m	judgment
SEC v. Dean Shah et al. (undisclosed control blocks, 2022)	SEC	2022-04-15	Undisclosed Control Blocks , Pump And Dump	—	filed
CFTC v. David Skudder, Global Ag LLC and Nesvick Trading Group LLC (spoofing, 2022)	CFTC	2022-04-14	Spoofing	—	filed
SEC v. Mark Loman (insider trading, 2022)	SEC	2022-04-14	Insider Trading	$482k	judgment
SEC v. Ronald Bauer and seven others (pump and dump, 2022)	SEC	2022-04-14	Pump And Dump	—	filed
SEBI v. Unisys Softwares and Holding Industries Limited and others (funded preferential allotment, 2022)	SEBI (India)	2022-04-13		—	judgment
SEC v. Justin Wallace Herman, Anthony Michael Baker, Ian Horn, and Island Capital Inc (boiler rooms, 2022)	SEC	2022-04-12	Boiler Rooms	$10k	filed
SEC v. Anthony Salandra (false rumors, 2022)	SEC	2022-04-11	False Rumors	—	settled
SEC v. Julie Minuskin, Joshua Stoll, Dennis DiRicco, Tom Casey and Golden Genesis, Inc. (ponzi schemes, 2022)	SEC	2022-04-11	Ponzi Schemes	$457k	judgment
SEBI v. Rajlaxmi Industries Limited and others (funded preferential allotment, 2022)	SEBI (India)	2022-04-11		—	judgment
CFTC v. Danish (ponzi schemes, 2022)	CFTC	2022-04-08	Ponzi Schemes	$3.6m	judgment