https://marketmanipulation.org/cases/technique/wash-trading/ The 30 most recent enforcement records tagged wash trading in the Market Manipulation library, each linked to its primary source. Tags are our classification, not the charges. en-us Mon, 03 Aug 2026 00:00:00 GMT https://marketmanipulation.org/cases/sec-gotbit-consulting-llc-a-k-a-gotbit-hedge-fund-wash-trading-2026/ https://marketmanipulation.org/cases/sec-gotbit-consulting-llc-a-k-a-gotbit-hedge-fund-wash-trading-2026/ In August 2026, the SEC announced a proposed settlement of its fraud and market manipulation claims against Gotbit Consulting LLC, an injunction and a bar on participating in securities offerings, and dismissed its claims against employee Fedor Kedrov. Mon, 03 Aug 2026 00:00:00 GMT SEC paid-crypto-market-making wash-trading https://marketmanipulation.org/cases/sec-justin-sun-tron-foundation-limited-bittorrent-foundation-ltd-rainberry-inc-p/ https://marketmanipulation.org/cases/sec-justin-sun-tron-foundation-limited-bittorrent-foundation-ltd-rainberry-inc-p/ In March 2026, the SEC announced a proposed settlement of its wash trading claim against Rainberry, Inc. for a US$10 million penalty, and dismissed with prejudice its remaining claims against Rainberry and all claims against Justin Sun, Tron Foundation Limited and BitTorrent Foundation Ltd. Thu, 05 Mar 2026 00:00:00 GMT SEC wash-trading https://marketmanipulation.org/cases/asic-25-302mr-price-manipulation-2025/ https://marketmanipulation.org/cases/asic-25-302mr-price-manipulation-2025/ In December 2025 Behzad Eghrari of Vermont South was sentenced to 15 months' imprisonment, released on a two-year recognisance, for three market manipulation charges after trading A$7.14 million of ASX shares between his own accounts. The case is wash trading, not insider trading. Fri, 12 Dec 2025 00:00:00 GMT ASIC price-manipulation wash-trading https://marketmanipulation.org/cases/cftc-shinhan-securities-co-ltd-wash-trading-2025/ https://marketmanipulation.org/cases/cftc-shinhan-securities-co-ltd-wash-trading-2025/ In 2025, the Commodity Futures Trading Commission obtained a judgment against Shinhan Securities Co. Ltd., alleging conduct this library classifies as wash trading. The release records a civil penalty of $212,500. Wed, 17 Sep 2025 00:00:00 GMT CFTC wash-trading https://marketmanipulation.org/cases/sec-suyun-gu-et-al-wash-trading-2025/ https://marketmanipulation.org/cases/sec-suyun-gu-et-al-wash-trading-2025/ In July 2025, a New Jersey federal court entered a final judgment against Suyun Gu, ordering US$621,703 in disgorgement, US$134,663 in interest and a US$621,703 penalty for wash trading put options in 2021 to collect liquidity rebates. Mon, 21 Jul 2025 00:00:00 GMT SEC wash-trading https://marketmanipulation.org/cases/asic-25-039mr-price-manipulation-2025/ https://marketmanipulation.org/cases/asic-25-039mr-price-manipulation-2025/ In March 2025 ASIC announced that Behzad Eghrari of Vermont South, Victoria, was charged with three offences over wash trades in Investigator Resources, Silver Mines and Lumos Diagnostics shares. He pleaded guilty and, in December 2025, the County Court of Victoria sentenced him to 15 months' imprisonment, released immediately on a two-year good behaviour recognisance. Fri, 14 Mar 2025 00:00:00 GMT ASIC price-manipulation wash-trading https://marketmanipulation.org/cases/sec-gotbit-consulting-llc-a-k-a-gotbit-hedge-fund-wash-trading-2024/ https://marketmanipulation.org/cases/sec-gotbit-consulting-llc-a-k-a-gotbit-hedge-fund-wash-trading-2024/ In 2024, the Securities and Exchange Commission brought an action against Gotbit Consulting LLC a/k/a Gotbit Hedge Fund and Fedor Kedrov, alleging conduct this library classifies as paid crypto market making and wash trading. The release does not state a monetary figure that we were able to extract. A parallel criminal matter is referenced in the release. Wed, 09 Oct 2024 00:00:00 GMT SEC paid-crypto-market-making wash-trading https://marketmanipulation.org/cases/sec-zm-quant-investment-ltd-baijun-ou-a-k-a-eric-ou-wash-trading-2024/ https://marketmanipulation.org/cases/sec-zm-quant-investment-ltd-baijun-ou-a-k-a-eric-ou-wash-trading-2024/ In 2024, the Securities and Exchange Commission brought an action against ZM Quant Investment Ltd., Baijun Ou a/k/a Eric Ou, and Ruiqi Lau a/k/a Ricky Liu, alleging conduct this library classifies as paid crypto market making and wash trading. The release does not state a monetary figure that we were able to extract. A parallel criminal matter is referenced in the release. Wed, 09 Oct 2024 00:00:00 GMT SEC paid-crypto-market-making wash-trading https://marketmanipulation.org/cases/cftc-taiwanese-firm-wash-trading-2024/ https://marketmanipulation.org/cases/cftc-taiwanese-firm-wash-trading-2024/ In October 2024, the CFTC settled charges against Taiwanese firm Taishin Securities Co., Ltd., ordering a US$200,000 penalty for wash sales and noncompetitive CME trades made while moving open futures positions from one broker to another. Tue, 01 Oct 2024 00:00:00 GMT CFTC wash-trading https://marketmanipulation.org/cases/cftc-brazilian-wash-trading-2024/ https://marketmanipulation.org/cases/cftc-brazilian-wash-trading-2024/ In August 2024, the CFTC settled charges against Raizen Energia SA and Raizen Trading SA, ordering a joint US$750,000 penalty for 44 wash sales and noncompetitive exchange for physical transactions in ICE sugar futures between accounts that were not independently controlled. Mon, 19 Aug 2024 00:00:00 GMT CFTC wash-trading https://marketmanipulation.org/cases/sec-safemoon-llc-safemoon-us-llc-kyle-nagy-braden-john-karony-thomas-glenn-smith/ https://marketmanipulation.org/cases/sec-safemoon-llc-safemoon-us-llc-kyle-nagy-braden-john-karony-thomas-glenn-smith/ In 2023, the Securities and Exchange Commission brought an action against SafeMoon LLC, SafeMoon US LLC, Kyle Nagy, Braden John Karony, Thomas Glenn Smith, alleging conduct this library classifies as wash trading. No monetary relief has been recorded at this stage; the matter is an allegation and remains unproven. A parallel criminal matter is referenced in the release. Wed, 01 Nov 2023 00:00:00 GMT SEC wash-trading https://marketmanipulation.org/cases/sec-justin-sun-tron-foundation-limited-bittorrent-foundation-ltd-rainberry-inc-a/ https://marketmanipulation.org/cases/sec-justin-sun-tron-foundation-limited-bittorrent-foundation-ltd-rainberry-inc-a/ In August 2023, the SEC reported a consent judgment against celebrity Austin Mahone in its case against Justin Sun and his companies over unregistered offerings of TRX and BTT, wash trading of TRX and undisclosed celebrity touting; the money recorded is Mahone's, and the case against the others continued. Mon, 07 Aug 2023 00:00:00 GMT SEC paid-stock-promotion wash-trading https://marketmanipulation.org/cases/asic-gabriel-govinda-price-manipulation-2023/ https://marketmanipulation.org/cases/asic-gabriel-govinda-price-manipulation-2023/ In May 2023 ASIC announced that Gabriel Govinda had been sentenced to two and a half years imprisonment, released immediately on a five-year recognisance of A$5,000, and fined A$42,840, after pleading guilty to 23 charges of manipulating ASX-listed shares and 19 charges of illegally disseminating information about it, the first sentence under Corporations Act s1041D. Wed, 03 May 2023 00:00:00 GMT ASIC price-manipulation pump-and-dump wash-trading https://marketmanipulation.org/cases/sec-carlos-eduardo-reyes-alvarez-wash-trading-2023/ https://marketmanipulation.org/cases/sec-carlos-eduardo-reyes-alvarez-wash-trading-2023/ In April 2023, a New York federal court entered a final consent judgment against Florida trader Carlos Eduardo Reyes Alvarez over microcap manipulation involving unauthorised press releases and, in at least four companies, wash trading, ordering US$368,045 in disgorgement, US$76,843 in interest and a US$160,000 penalty. Mon, 01 May 2023 00:00:00 GMT SEC wash-trading https://marketmanipulation.org/cases/sec-justin-sun-et-al-paid-stock-promotion-2023/ https://marketmanipulation.org/cases/sec-justin-sun-et-al-paid-stock-promotion-2023/ In March 2023 the SEC charged Justin Sun and his companies with unregistered offers of TRX and BTT tokens and with wash trading TRX, and charged eight celebrities for touting the tokens. On March 5, 2026 the SEC filed a proposed global resolution: Rainberry would pay a $10 million penalty on the wash-trading claim, subject to court approval, and all other claims against the Tron defendants would be dismissed. Fri, 24 Mar 2023 00:00:00 GMT SEC paid-stock-promotion unregistered-distributions wash-trading https://marketmanipulation.org/cases/cftc-two-chinese-companies-wash-trading-2022/ https://marketmanipulation.org/cases/cftc-two-chinese-companies-wash-trading-2022/ In September 2022, the CFTC settled charges against Beijing-based COFCO Corp. and Chinatex Corp., Ltd., ordering a joint US$720,000 penalty for wash trading in ICE cotton futures, position limit violations and reporting failures. Fri, 23 Sep 2022 00:00:00 GMT CFTC wash-trading https://marketmanipulation.org/cases/asic-gabriel-govinda-price-manipulation-2022/ https://marketmanipulation.org/cases/asic-gabriel-govinda-price-manipulation-2022/ In June 2022, Gabriel Govinda, known online as "Fibonarchery", pleaded guilty to 23 charges of manipulating ASX-listed stocks, including trading between accounts he controlled, and 19 charges of illegally disseminating information about it; sentencing was to follow. Tue, 07 Jun 2022 00:00:00 GMT ASIC price-manipulation pump-and-dump wash-trading https://marketmanipulation.org/cases/cftc-dubai-traders-wash-trading-2021/ https://marketmanipulation.org/cases/cftc-dubai-traders-wash-trading-2021/ In December 2021, the CFTC settled charges against Dubai residents Kunal Bansal and Vinit Agarwal and their firms Aralia Securities, Ltd. and Vintage Bullion DMCC, ordering a joint US$100,000 penalty for wash sales and noncompetitive gold futures trades on COMEX. Mon, 27 Dec 2021 00:00:00 GMT CFTC wash-trading https://marketmanipulation.org/cases/sec-suyun-gu-et-al-wash-trading-2021/ https://marketmanipulation.org/cases/sec-suyun-gu-et-al-wash-trading-2021/ In September 2021, the SEC charged Florida resident Suyun Gu and his friend Yong Lee with wash trading put options on "meme stocks" in 2021 to collect exchange liquidity rebates; Lee agreed to settle, with US$51,334 in disgorgement and a US$25,000 penalty, while the case against Gu continued. Mon, 27 Sep 2021 00:00:00 GMT SEC wash-trading https://marketmanipulation.org/cases/sec-ahmad-haris-tajyar-marking-the-close-2021/ https://marketmanipulation.org/cases/sec-ahmad-haris-tajyar-marking-the-close-2021/ In 2021, the Securities and Exchange Commission settled an action with Ahmad Haris Tajyar and Eric Leo Marsoubian, alleging conduct this library classifies as marking the close, matched orders and wash trading. The release records a civil penalty of $219,604, disgorgement of $15,267. Fri, 13 Aug 2021 00:00:00 GMT SEC marking-the-close matched-orders wash-trading https://marketmanipulation.org/cases/cftc-connecticut-firm-wash-trading-2021/ https://marketmanipulation.org/cases/cftc-connecticut-firm-wash-trading-2021/ In May 2021, the CFTC settled charges against Connecticut commodity trading advisor SummerHaven Investment Management LLC, ordering a US$500,000 penalty for wash sales and noncompetitive trades made while moving a client's futures positions between two brokers. Tue, 18 May 2021 00:00:00 GMT CFTC wash-trading https://marketmanipulation.org/cases/cftc-coinbase-inc-exchange-wash-trading-2021/ https://marketmanipulation.org/cases/cftc-coinbase-inc-exchange-wash-trading-2021/ In March 2021, the CFTC settled charges against digital asset exchange Coinbase Inc., ordering a US$6.5 million penalty for reckless false or misleading transaction reporting from its GDAX platform and for wash trading by a former employee in the Litecoin/Bitcoin pair. Fri, 19 Mar 2021 00:00:00 GMT CFTC exchange-wash-trading wash-trading https://marketmanipulation.org/cases/fca-adrian-geoffrey-horn-wash-trading-2021/ https://marketmanipulation.org/cases/fca-adrian-geoffrey-horn-wash-trading-2021/ In 2021, the Financial Conduct Authority brought an action against Adrian Geoffrey Horn, alleging conduct this library classifies as wash trading. The release does not state a monetary figure that we were able to extract. Wed, 03 Mar 2021 00:00:00 GMT FCA wash-trading https://marketmanipulation.org/cases/osc-coinsquare-ltd-wash-trading-2020/ https://marketmanipulation.org/cases/osc-coinsquare-ltd-wash-trading-2020/ In July 2020, the Ontario Securities Commission approved a settlement with Coinsquare Ltd. and executives Cole Diamond, Virgile Rostand and Felix Mazer over reporting wash trades that made up over 90 percent of Coinsquare's stated trading volume between 2018 and 2019, with administrative penalties of C$1.9 million. Fri, 17 Jul 2020 00:00:00 GMT OSC exchange-wash-trading wash-trading https://marketmanipulation.org/cases/cftc-trader-wash-trading-2020/ https://marketmanipulation.org/cases/cftc-trader-wash-trading-2020/ In May 2020, the CFTC settled charges against New York trader Mehran Khorrami and his firm Cayley Investment Management, LLC, ordering a US$150,000 penalty for wash sales and noncompetitive trades in CME futures for a single client's accounts. Thu, 07 May 2020 00:00:00 GMT CFTC wash-trading https://marketmanipulation.org/cases/cftc-rbc-capital-markets-wash-trading-2019/ https://marketmanipulation.org/cases/cftc-rbc-capital-markets-wash-trading-2019/ In 2019, the Commodity Futures Trading Commission obtained a judgment against RBC Capital Markets, alleging conduct this library classifies as wash trading. The release records a civil penalty of $5 million. Tue, 01 Oct 2019 00:00:00 GMT CFTC wash-trading https://marketmanipulation.org/cases/cftc-commodity-trading-firm-wash-trading-2019/ https://marketmanipulation.org/cases/cftc-commodity-trading-firm-wash-trading-2019/ In June 2019, the CFTC settled charges against Illinois trading firm Eagle Market Makers, Inc., ordering a US$350,000 penalty and improved controls for wash sales and noncompetitive trades in CBOT and CME futures. Fri, 28 Jun 2019 00:00:00 GMT CFTC wash-trading https://marketmanipulation.org/cases/fca-terry-john-farr-benchmark-submission-rigging-2019/ https://marketmanipulation.org/cases/fca-terry-john-farr-benchmark-submission-rigging-2019/ In 2019, the Financial Conduct Authority obtained a judgment against Terry John Farr, alleging conduct this library classifies as benchmark submission rigging and wash trading. The release does not state a monetary figure that we were able to extract. A parallel criminal matter is referenced in the release. Wed, 29 May 2019 00:00:00 GMT FCA benchmark-submission-rigging wash-trading https://marketmanipulation.org/cases/cftc-glencore-agriculture-b-v-wash-trading-2018/ https://marketmanipulation.org/cases/cftc-glencore-agriculture-b-v-wash-trading-2018/ In 2018, the Commodity Futures Trading Commission obtained a judgment against Glencore Agriculture B.V. and Glencore Ltd., alleging conduct this library classifies as wash trading. The release records a civil penalty of $2 million. Mon, 30 Apr 2018 00:00:00 GMT CFTC wash-trading https://marketmanipulation.org/cases/fca-neil-danziger-benchmark-submission-rigging-2018/ https://marketmanipulation.org/cases/fca-neil-danziger-benchmark-submission-rigging-2018/ In January 2018 the FCA fined former RBS trader Neil Danziger £250,000 and prohibited him for attempting to influence yen LIBOR submissions to benefit trading positions and for entering wash trades to pay brokerage to brokers. Mon, 08 Jan 2018 00:00:00 GMT FCA benchmark-submission-rigging wash-trading