Market Manipulation. Search

Market manipulation case library

This library records 2,348 market manipulation enforcement actions brought by financial regulators, each with the agency, the date, the alleged technique, the monetary relief ordered and a link to the regulator's own filing. The whole dataset is downloadable as JSON.

Actions
2,348
Total penalties
$15.4bn
Median penalty
$255k
Agencies
5
Techniques
37

Browse by facet

Every facet below is a real page with its own URL, so it works without JavaScript and can be linked, bookmarked and cited.

By technique

Insider trading 709 Ponzi schemes 568 Paid stock promotion 222 Unregistered distributions 137 Pump and dump 128 Price manipulation 124 Spoofing 120 Undisclosed control blocks 120 Wash trading 108 Boiler rooms 75 Reverse merger schemes 66 Benchmark submission rigging 53 The naked short selling debate 43 Matched orders 38 Churning 21 Layering 19 Free riding and parking 18 Fake press releases 16 Cash versus derivatives schemes 15 Newsletter scalping 15 Marking the close 13 Front running 12 Chat group pumps 11 FX fixing 11 Shell factories 8 False rumours 5 Custodianship shell hijacking 5 Settlement price manipulation 4 Exchange wash trading 3 Banging the close 3 Engineered short squeeze 2 Marking the open 1 Rug pulls 1 Insider listing trading 1 Oracle manipulation 1 Float locking 1 Dilution death spirals 1

By agency

ASIC 112 CFTC 347 FCA 47 OSC 71 SEC 1771

By year filed

2026 91 2025 120 2024 193 2023 223 2022 188 2021 159 2020 200 2019 192 2018 244 2017 228 2016 194 2015 229 2014 44 2013 43

Ranked lists: largest penalties · largest spoofing penalties · longest sentences · most-charged individuals · biggest crypto cases · most active courts

All actions, newest first

Action Agency Filed Technique Penalty Status
SEC v. Michael E. Cone, et al (boiler rooms, 2018) SEC 2018-11-08 Boiler Rooms — filed
SEC v. SeeThruEquity, LLC et al. (newsletter scalping, 2018) SEC 2018-11-08 Newsletter Scalping , Paid Stock Promotion — filed
SEC v. Slobodan Dragojlovic (insider trading, 2018) SEC 2018-11-08 Insider Trading — judgment
SEC v. Citibank, N.A. (naked short selling debate, 2018) SEC 2018-11-07 Naked Short Selling Debate — settled
SEC v. Mark E. Fisher, Esq. (fake press releases, 2018) SEC 2018-11-02 Fake Press Releases , Pump And Dump — judgment
SEC v. Brian Weber and Bebida Beverage Co. (fake press releases, 2018) SEC 2018-10-31 Fake Press Releases , Paid Stock Promotion — judgment
FCA v. Jonathan Mathew Individual (benchmark submission rigging, 2018) FCA 2018-10-30 Benchmark Submission Rigging , Insider Trading — filed
SEC v. Philip Thomas Kueber (undisclosed control blocks, 2018) SEC 2018-10-26 Undisclosed Control Blocks — judgment
OSC v. Keir Reynolds (insider trading, 2018) OSC 2018-10-25 Insider Trading — settled
SEC v. John Madsen, Andalusian Resorts and others (fake press releases, 2018) SEC 2018-10-23 Fake Press Releases , Pump And Dump +1 — judgment
SEC v. Mark E. Fisher and Joseph F. Capuozzo (paid stock promotion, 2018) SEC 2018-10-22 Paid Stock Promotion , Pump And Dump — settled
SEC v. Zachary S. Berkey (churning, 2018) SEC 2018-10-19 Churning — judgment
CFTC v. GBI (ponzi schemes, 2018) CFTC 2018-10-18 Ponzi Schemes $2.5m judgment
SEC v. Richard J. Greenlaw et al. (unregistered distributions, 2018) SEC 2018-10-18 Unregistered Distributions — judgment
OSC v. K2 & Associates Investment Management Inc. and others (spoofing, 2018) OSC 2018-10-17 Spoofing — unknown
SEC v. Bryan B. Long (insider trading, 2018) SEC 2018-10-16 Insider Trading — filed
CFTC v. Kamaldeep Gandhi (spoofing, 2018) CFTC 2018-10-12 Spoofing — judgment
SEC v. Harold L. Altvater (insider trading, 2018) SEC 2018-10-11 Insider Trading — filed
SEC v. Merrill, et al. (ponzi schemes, 2018) SEC 2018-10-11 Ponzi Schemes — filed
SEC v. Dennis Wayne Hamilton (insider trading, 2018) SEC 2018-10-10 Insider Trading — judgment
SEC v. Jeffre James and others (pump and dump, 2018) SEC 2018-10-09 Pump And Dump — unknown
SEC v. Robert O. Carr and Katherine M. Hanratty (insider trading, 2018) SEC 2018-10-05 Insider Trading — judgment
SEC v. Todd Elliott Hitt, Kiddar Capital LLC, Kiddar Group Holdings, Inc., as Defendants, and Kiddar AQ LLC a/k/a Kiddar Aquicore LLC, as Relief Defendants (ponzi schemes, 2018) SEC 2018-10-05 Ponzi Schemes — settled
CFTC v. Owner of Precious Metals Firm (ponzi schemes, 2018) CFTC 2018-10-03 Ponzi Schemes — filed
CFTC v. the Bank of Nova Scotia (spoofing, 2018) CFTC 2018-10-01 Spoofing $800k judgment
CFTC v. unnamed respondents (insider trading, 2018) CFTC 2018-09-28 Insider Trading — filed
CFTC v. Block Trade Broker (front running, 2018) CFTC 2018-09-28 Front Running , Insider Trading — filed
SEC v. Bryan R. Ziegenfuse (insider trading, 2018) SEC 2018-09-28 Insider Trading — judgment
SEC v. COR Clearing, LLC (unregistered distributions, 2018) SEC 2018-09-28 Unregistered Distributions $800k settled
SEC v. Edward J. Kosinski (insider trading, 2018) SEC 2018-09-28 Insider Trading — filed
SEC v. Jehu Hand and Antonio Katz (paid stock promotion, 2018) SEC 2018-09-28 Paid Stock Promotion , Pump And Dump — judgment
SEC v. NL Technology, LLC et al. (ponzi schemes, 2018) SEC 2018-09-28 Ponzi Schemes $480k judgment
SEC v. Nutra Pharma Corp. et al (unregistered distributions, 2018) SEC 2018-09-28 Unregistered Distributions — filed
SEC v. Thomas Carter Ronk (boiler rooms, 2018) SEC 2018-09-28 Boiler Rooms , Paid Stock Promotion — filed
SEC v. Unal Patel and Amish Patel (insider trading, 2018) SEC 2018-09-28 Insider Trading — settled
CFTC v. Davis Ramsey (price manipulation, 2018) CFTC 2018-09-27 Price Manipulation $325k judgment
CFTC v. Eleven Individuals and Five Entities (wash trading, 2018) CFTC 2018-09-27 Wash Trading — unknown
CFTC v. Futures Trader (price manipulation, 2018) CFTC 2018-09-27 Price Manipulation $325k judgment
SEC v. unnamed respondents (ponzi schemes, 2018) SEC 2018-09-27 Ponzi Schemes — settled
SEC v. Thomas Earl Hayden (insider trading, 2018) SEC 2018-09-27 Insider Trading $198k settled
Former CEO and director of Sirtex Medical Limited charged with insider trading (ASIC, 2018) ASIC 2018-09-26 Insider Trading — filed
CFTC v. Adam Flavin (price manipulation, 2018) CFTC 2018-09-26 Price Manipulation $1.3m judgment
CFTC v. Two Commodity Traders (price manipulation, 2018) CFTC 2018-09-26 Price Manipulation $125k judgment
OSC v. Daniel P. Reeve (ponzi schemes, 2018) OSC 2018-09-26 Ponzi Schemes — filed
CFTC v. Mizuho Bank (spoofing, 2018) CFTC 2018-09-21 Spoofing $250k judgment
OSC v. LeadFX Inc. and Michael Pearson (dilution death spirals, 2018) OSC 2018-09-21 Dilution Death Spirals — dismissed
CFTC v. Geneva Trading USA (spoofing, 2018) CFTC 2018-09-20 Spoofing $1.5m judgment
SEC v. CSIR Group, LLC, et al. (paid stock promotion, 2018) SEC 2018-09-20 Paid Stock Promotion — judgment
CFTC v. Bank of America (benchmark submission rigging, 2018) CFTC 2018-09-19 Benchmark Submission Rigging , Price Manipulation $30m judgment
CFTC v. Futures Trader and Trading Firm (cash vs derivatives schemes, 2018) CFTC 2018-09-19 Cash Vs Derivatives Schemes , Spoofing $1.8m judgment
SEC v. Michael L. LaPenna (naked short selling debate, 2018) SEC 2018-09-19 Naked Short Selling Debate $22.5k settled
CFTC v. ICAP Capital Markets LLC (benchmark submission rigging, 2018) CFTC 2018-09-18 Benchmark Submission Rigging , Price Manipulation $50m judgment
SEC v. Ernest J. Romer, III (ponzi schemes, 2018) SEC 2018-09-18 Ponzi Schemes — filed
SEC v. John Paul Waymack (insider trading, 2018) SEC 2018-09-18 Insider Trading — unknown
FCA v. Christian Bittar (benchmark submission rigging, 2018) FCA 2018-09-14 Benchmark Submission Rigging — dismissed
SEC v. Rong Chen, et al. (insider trading, 2018) SEC 2018-09-14 Insider Trading — filed
SEC v. Barry C. Honig, et al. (pump and dump, 2018) SEC 2018-09-07 Pump And Dump — filed
SEC v. In Ovations Holdings, Inc. and Mark Goldberg (paid stock promotion, 2018) SEC 2018-09-06 Paid Stock Promotion — unknown
SEC v. Jeffrey Goldman and Christopher Eikenberry (ponzi schemes, 2018) SEC 2018-09-05 Ponzi Schemes — settled
SEC v. Amer Deeba (insider trading, 2018) SEC 2018-08-30 Insider Trading $581k judgment
SEC v. Kendricks, et al. (insider trading, 2018) SEC 2018-08-30 Insider Trading — filed
CFTC v. BNP Paribas (benchmark submission rigging, 2018) CFTC 2018-08-29 Benchmark Submission Rigging , Price Manipulation $90m judgment
SEC v. David Michael Naylor, CPA (undisclosed control blocks, 2018) SEC 2018-08-29 Undisclosed Control Blocks — judgment
SEC v. Delaney Equity Group LLC Delaney and others (reverse merger schemes, 2018) SEC 2018-08-29 Reverse Merger Schemes , Shell Factories +1 $20k settled
SEC v. Fishoff, et al. (insider trading, 2018) SEC 2018-08-23 Insider Trading — filed
SEC v. Gary S. Williky (insider trading, 2018) SEC 2018-08-23 Insider Trading $1.7m judgment
SEC v. Barry M. Kornfeld, et al., Lynette M. Robbins and Knowles Systems, Inc. (ponzi schemes, 2018) SEC 2018-08-22 Ponzi Schemes $100k settled
SEC v. James T. Lentz (insider trading, 2018) SEC 2018-08-22 Insider Trading — settled
Former managing director of mining company found guilty of insider trading (ASIC, 2018) ASIC 2018-08-21 Insider Trading — filed
SEC v. A. Catlin Cade, IV (insider trading, 2018) SEC 2018-08-21 Insider Trading — settled
SEC v. Ismail Lila (insider trading, 2018) SEC 2018-08-21 Insider Trading — settled
SEC v. Lubin and David (unregistered distributions, 2018) SEC 2018-08-21 Unregistered Distributions — judgment
SEC v. Citigroup Global Markets Inc. and Citigroup Inc. (undisclosed control blocks, 2018) SEC 2018-08-16 Undisclosed Control Blocks — settled
SEC v. Honglan Wang (insider trading, 2018) SEC 2018-08-16 Insider Trading — settled
SEC v. Lauren Zarsky, CPA (insider trading, 2018) SEC 2018-08-15 Insider Trading — judgment
SEC v. Tomahawk Exploration LLC and David Thompson Laurance (reverse merger schemes, 2018) SEC 2018-08-14 Reverse Merger Schemes $30k settled
SEC v. Alexander Charles White and Paul Douglas Vandivier (unregistered distributions, 2018) SEC 2018-08-13 Unregistered Distributions — unknown
SEC v. Chad Anthony Lewis (unregistered distributions, 2018) SEC 2018-08-13 Unregistered Distributions — settled
SEC v. Christopher Collins, et al., Lauren Zarksy, Dorothy Zarsky (insider trading, 2018) SEC 2018-08-10 Insider Trading — judgment
SEC v. John C. Maccoll (ponzi schemes, 2018) SEC 2018-08-09 Ponzi Schemes — filed
SEC v. Arthur Lamar Adams and Madison Timber Properties, LLC (ponzi schemes, 2018) SEC 2018-08-08 Ponzi Schemes — filed
SEC v. Daniel M. Fitzpatrick, CPA (undisclosed control blocks, 2018) SEC 2018-08-08 Undisclosed Control Blocks — judgment
SEC v. Kevin M. Modany, CPA (undisclosed control blocks, 2018) SEC 2018-08-08 Undisclosed Control Blocks — judgment
SEC v. Salvadore D. Palermo (wash trading, 2018) SEC 2018-08-08 Wash Trading — filed
SEC v. Aaron R. Smith (insider trading, 2018) SEC 2018-08-07 Insider Trading — settled
SEC v. Murakami, et al. (ponzi schemes, 2018) SEC 2018-08-06 Ponzi Schemes — judgment
SEC v. Fei Yan, et al. (insider trading, 2018) SEC 2018-08-03 Insider Trading — judgment
SEC v. Kurt J. Bordian, CPA (insider trading, 2018) SEC 2018-08-03 Insider Trading — judgment
SEC v. Lozuk (insider trading, 2018) SEC 2018-08-01 Insider Trading — judgment
SEC v. Madan (insider trading, 2018) SEC 2018-08-01 Insider Trading $14k judgment
SEC v. Fred Tinker (insider trading, 2018) SEC 2018-07-31 Insider Trading — settled
SEC v. Howard M. Appel (matched orders, 2018) SEC 2018-07-30 Matched Orders — settled
SEC v. Robert Gadimian (insider trading, 2018) SEC 2018-07-26 Insider Trading — judgment
SEC v. Rudden, et al. (ponzi schemes, 2018) SEC 2018-07-26 Ponzi Schemes — unknown
FCA v. Edward John Booth (churning, 2018) FCA 2018-07-25 Churning — judgment
SEC v. Richard T. Cunniffe (insider trading, 2018) SEC 2018-07-25 Insider Trading — judgment
SEC v. Matthew Brunstrum and Susan Brunstrum (insider trading, 2018) SEC 2018-07-24 Insider Trading — settled
SEC v. Yao Li (insider trading, 2018) SEC 2018-07-24 Insider Trading — settled
Former executive charged with insider trading (ASIC, 2018) ASIC 2018-07-23 Insider Trading — dismissed
SEC v. Mizuho Securities USA LLC (front running, 2018) SEC 2018-07-23 Front Running , Insider Trading +1 — settled