Pump and dump enforcement actions

This library records 128 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: 28
Total penalties: $1.2m
Median penalty: $125k
Largest: $910k
Criminal parallel: 46%

Action	Agency	Filed	Penalty	Status
SEC v. Jehu Hand and Antonio Katz (paid stock promotion, 2017)	SEC	2017-06-15	—	filed
SEC v. Mustafa David Sayid (pump and dump, 2017)	SEC	2017-04-13	—	filed
SEC v. Michael Affa, et al. (pump and dump, 2017)	SEC	2017-02-07	—	judgment
SEC v. Richard Weed et al. (paid stock promotion, 2016)	SEC	2016-10-04	—	judgment
SEC v. Marcus A. Luna, et al. (boiler rooms, 2016)	SEC	2016-09-30	—	filed
SEC v. Jason A. Wallace (boiler rooms, 2016)	SEC	2016-09-27	—	filed
SEC v. Richard Weed, Esq. (pump and dump, 2016)	SEC	2016-09-13	—	unknown
SEC v. Edward F. Panos, et al. (pump and dump, 2016)	SEC	2016-08-25	—	unknown
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	—	settled
SEC v. Asher Z. Zwebner and Luke C. Zouvas, et al. (paid stock promotion, 2016)	SEC	2016-04-26	—	unknown
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. (paid stock promotion, 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. Christopher D. Whetman, CPA (pump and dump, 2015)	SEC	2015-09-18	—	dismissed
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. 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