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. Louis Martin Blazer III (ponzi schemes, 2017) SEC 2017-08-10 Ponzi Schemes — judgment
CFTC v. The Bank (spoofing, 2017) CFTC 2017-08-08 Spoofing $600k judgment
SEC v. David Blaszczak, et al. (insider trading, 2017) SEC 2017-08-08 Insider Trading — settled
SEC v. Steven V. McClatchey and Gary J. Pusey (insider trading, 2017) SEC 2017-08-08 Insider Trading — judgment
SEC v. Joe Yiu Cheung ( and Dylon De Lu Zhang) (paid stock promotion, 2017) SEC 2017-08-02 Paid Stock Promotion , Pump And Dump +2 — settled
SEC v. Jeffrey D. Martin, et al. (custodianship shell hijacking, 2017) SEC 2017-08-01 Custodianship Shell Hijacking , Paid Stock Promotion +1 — judgment
SEC v. Karen F. Aalders (paid stock promotion, 2017) SEC 2017-07-31 Paid Stock Promotion — judgment
SEC v. Sterling Craig Barton (insider trading, 2017) SEC 2017-07-31 Insider Trading — judgment
SEC v. Harold L. Altvater (insider trading, 2017) SEC 2017-07-28 Insider Trading — unknown
SEC v. Windsor Street Capital, L.P. ( and others (unregistered distributions, 2017) SEC 2017-07-28 Unregistered Distributions — settled
CFTC v. New York Trader Simon Posen (spoofing, 2017) CFTC 2017-07-27 Spoofing $635k judgment
SEC v. Carrillo and Luis J. (paid stock promotion, 2017) SEC 2017-07-26 Paid Stock Promotion , Pump And Dump +1 — judgment
SEC v. Huettel and Wade D., Esq. (paid stock promotion, 2017) SEC 2017-07-26 Paid Stock Promotion , Pump And Dump +1 — judgment
SEC v. Joey Stanton Dodson (ponzi schemes, 2017) SEC 2017-07-26 Ponzi Schemes — judgment
SEC v. Joey Giamichael and Umbrella Research, LLC (newsletter scalping, 2017) SEC 2017-07-25 Newsletter Scalping , Paid Stock Promotion — settled
SEC v. Andrew Farmer, et al. (pump and dump, 2017) SEC 2017-07-24 Pump And Dump — judgment
SEC v. Lubin and David (unregistered distributions, 2017) SEC 2017-07-19 Unregistered Distributions — judgment
SEC v. Troy Joseph Flowers, et al. (undisclosed control blocks, 2017) SEC 2017-07-19 Undisclosed Control Blocks — filed
SEC v. John F. Stimpson (insider trading, 2017) SEC 2017-07-18 Insider Trading $136k settled
SEC v. Ashley Antos, Defendants, and Antos, Inc. (boiler rooms, 2017) SEC 2017-07-12 Boiler Rooms — unknown
SEC v. Victory Ho (insider trading, 2017) SEC 2017-07-12 Insider Trading — judgment
SEC v. Wanger and Eric David Wanger Investment Management, Inc. (marking the close, 2017) SEC 2017-07-10 Marking The Close $75k dismissed
SEC v. Steve G. Blasko (boiler rooms, 2017) SEC 2017-07-07 Boiler Rooms , Unregistered Distributions — filed
SEC v. Cheryl L. Jones (ponzi schemes, 2017) SEC 2017-07-03 Ponzi Schemes — filed
CFTC v. unnamed respondents (spoofing, 2017) CFTC 2017-06-30 Spoofing $350k judgment
CFTC v. Rosenthal Collins Capital Markets LLC (wash trading, 2017) CFTC 2017-06-30 Wash Trading $5m judgment
SEC v. Sasan Sabrdaran and Farhang Afsarpour (insider trading, 2017) SEC 2017-06-30 Insider Trading — judgment
SEC v. Andrew S. Keck (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks — settled
SEC v. Christopher A. Conley (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks — settled
SEC v. Marilyn Stark (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks — settled
SEC v. Matthew L. Egna (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks $10k settled
SEC v. Nigel G. Lindsay (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks — settled
SEC v. Sarah E. Keck (undisclosed control blocks, 2017) SEC 2017-06-29 Undisclosed Control Blocks — settled
SEC v. Diana P. Lovera (boiler rooms, 2017) SEC 2017-06-28 Boiler Rooms — judgment
SEC v. Harold L. Altvater, Maureen E. Curran, Susan L. Dubuc (insider trading, 2017) SEC 2017-06-27 Insider Trading — judgment
SEC v. Wm Smith & Co. and William S. Smith (insider trading, 2017) SEC 2017-06-26 Insider Trading — settled
SEC v. James M. Farinella, et al. (paid stock promotion, 2017) SEC 2017-06-21 Paid Stock Promotion — filed
SEC v. Yu-Cheng Lin (insider trading, 2017) SEC 2017-06-19 Insider Trading — judgment
ASIC v. UBS Securities (front running, 2017) ASIC 2017-06-15 Front Running — unknown
SEC v. Edwin Yoshihiro Fujinaga and MRI International, Inc., et al. (ponzi schemes, 2017) SEC 2017-06-15 Ponzi Schemes — appealed
SEC v. Jehu Hand and Antonio Katz (paid stock promotion, 2017) SEC 2017-06-15 Paid Stock Promotion , Pump And Dump — filed
SEC v. Dan (“Alice”) Zhang, CPA (insider trading, 2017) SEC 2017-06-07 Insider Trading — settled
SEC v. Michael Trahan (insider trading, 2017) SEC 2017-06-07 Insider Trading — judgment
SEC v. Homero Joshua Garza, GAW Miners, LLC, and ZenMiner, LLC (ponzi schemes, 2017) SEC 2017-06-05 Ponzi Schemes — judgment
CFTC v. David Liew (price manipulation, 2017) CFTC 2017-06-03 Price Manipulation , Spoofing — judgment
SEC v. Adesh Kumar Tyagi (marking the close, 2017) SEC 2017-06-01 Marking The Close — unknown
SEC v. Harrison Katzen (boiler rooms, 2017) SEC 2017-05-31 Boiler Rooms — judgment
SEC v. Mark A. Jones (ponzi schemes, 2017) SEC 2017-05-25 Ponzi Schemes $160k judgment
SEC v. William J. Wells and Promitor Capital Management LLC (ponzi schemes, 2017) SEC 2017-05-25 Ponzi Schemes — settled
SEC v. Francisco Illarramendi, Highview Point Partners, LLC and others (ponzi schemes, 2017) SEC 2017-05-24 Ponzi Schemes $1m judgment
SEC v. Imran Husain, et al. (shell factories, 2017) SEC 2017-05-24 Shell Factories , Undisclosed Control Blocks — filed
SEC v. Murakami, et al. (ponzi schemes, 2017) SEC 2017-05-22 Ponzi Schemes — filed
SEC v. Robert W. Murray (price manipulation, 2017) SEC 2017-05-19 Price Manipulation — unknown
SEC v. Emerald Isle Exploration, Ltd. and Samuell Eads and Lloyd C. Brewer (insider trading, 2017) SEC 2017-05-12 Insider Trading , Undisclosed Control Blocks $10k settled
OSC v. Jorge Neher (insider trading, 2017) OSC 2017-05-12 Insider Trading — unknown
SEC v. Chamroonrat, et al. (ponzi schemes, 2017) SEC 2017-05-11 Ponzi Schemes — filed
SEC v. Walter C. Little and Andrew M. Berke (insider trading, 2017) SEC 2017-05-11 Insider Trading — filed
SEC v. Andrew T.E. Coldicutt, et al. (unregistered distributions, 2017) SEC 2017-05-05 Unregistered Distributions — unknown
SEC v. William R. Schantz III and Verto Capital Management LLC (ponzi schemes, 2017) SEC 2017-05-04 Ponzi Schemes — settled
OSC v. Dennis Wing (insider trading, 2017) OSC 2017-05-04 Insider Trading — dismissed
SEC v. David Michael Burke (undisclosed control blocks, 2017) SEC 2017-05-02 Unregistered Distributions — settled
SEC v. Mark J. Varacchi, et al. (ponzi schemes, 2017) SEC 2017-05-01 Ponzi Schemes — judgment
SEC v. Wensheng Lin and Sheng Li Chen (paid stock promotion, 2017) SEC 2017-05-01 Paid Stock Promotion — filed
Former Perth managing director sentenced to 18 months' jail for insider trading (ASIC, 2017) ASIC 2017-04-28 Insider Trading — filed
SEC v. Demitrios Hallas (churning, 2017) SEC 2017-04-26 Churning — filed
SEC v. Wilson-Davis & Company, Inc. (naked short selling debate, 2017) SEC 2017-04-26 Naked Short Selling Debate $75k settled
SEC v. Kent P. Watts, et al. (unregistered distributions, 2017) SEC 2017-04-21 Unregistered Distributions — filed
SEC v. Justin D. Meadlin and Hyaline Capital Management, LLC (paid stock promotion, 2017) SEC 2017-04-17 Paid Stock Promotion — filed
SEC v. Christopher R. Esposito, et al. (paid stock promotion, 2017) SEC 2017-04-14 Paid Stock Promotion $775k judgment
SEC v. Mustafa David Sayid (pump and dump, 2017) SEC 2017-04-13 Pump And Dump — filed
SEC v. Ryan Gilbertson, et al. (reverse merger schemes, 2017) SEC 2017-04-13 Reverse Merger Schemes — judgment
OSC v. Benedict Cheng and others (insider trading, 2017) OSC 2017-04-12 Insider Trading — dismissed
SEC v. Lidingo Holdings, LLC, et al., CSIR Group, LLC, et al. (paid stock promotion, 2017) SEC 2017-04-12 Paid Stock Promotion — settled
SEC v. Christopher French (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Ciaran Thornton (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Craig Keolanui (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Edward Borrelli and Dunedin, Inc. (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Galena Biopharma, Inc. and Mark J. Ahn (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion , Unregistered Distributions — settled
SEC v. ImmunoCellular Therapeutics, Ltd. (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Joel Corenman (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Lion Biotechnologies, Inc. (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Michael A. McCarthy (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion — settled
SEC v. Stephen Ramey (paid stock promotion, 2017) SEC 2017-04-10 Paid Stock Promotion $24k settled
SEC v. Lawrence F. Cluff, Jr. and Roger E. Shaoul (insider trading, 2017) SEC 2017-04-06 Insider Trading — judgment
ASIC v. Steven Robert Noske (insider trading, 2017) ASIC 2017-04-03 Insider Trading — unknown
SEC v. Vlad B. Spivak, et al. (insider trading, 2017) SEC 2017-04-03 Insider Trading — judgment
CFTC v. Former Citigroup Global Markets Inc. Traders Stephen Gola and Jonathan Brims (cash vs derivatives schemes, 2017) CFTC 2017-03-31 Cash Vs Derivatives Schemes , Spoofing $350k judgment
SEC v. Alison, LLC Alison and Stephen D. (undisclosed control blocks, 2017) SEC 2017-03-29 Undisclosed Control Blocks — settled
SEC v. LottoNet Operating Corp., et al. (boiler rooms, 2017) SEC 2017-03-27 Boiler Rooms — filed
SEC v. Ariel Darvasi and Amir Waldman (insider trading, 2017) SEC 2017-03-24 Insider Trading — judgment
SEC v. Nino Coppero del Valle et al. (insider trading, 2017) SEC 2017-03-24 Insider Trading — judgment
SEC v. Quigley and William (churning, 2017) SEC 2017-03-24 Churning — settled
SEC v. Christopher Ludwig (insider trading, 2017) SEC 2017-03-23 Insider Trading — judgment
SEC v. Rose and Sheldon MKJJ Consulting LLC (reverse merger schemes, 2017) SEC 2017-03-23 Reverse Merger Schemes , Undisclosed Control Blocks — settled
SEC v. Steven A. Hartung (insider trading, 2017) SEC 2017-03-23 Insider Trading — settled
SEC v. Michael J. Maciocio and David P. Hobson (insider trading, 2017) SEC 2017-03-20 Insider Trading — judgment
SEC v. Patrick Churchville, et al. (ponzi schemes, 2017) SEC 2017-03-17 Ponzi Schemes — filed
SEC v. Todd David Alpert (insider trading, 2017) SEC 2017-03-15 Insider Trading — filed
SEC v. Nima Hedayati (insider trading, 2017) SEC 2017-03-14 Insider Trading — settled
SEC v. Lek Securities Corporation, et al. (layering, 2017) SEC 2017-03-10 Layering — unknown